Immunoassay Market Size Worth $54.85 Billion by 2032 | CAGR: 5.4%

The global immunoassay market size is expected to reach USD 54.85 billion by 2032, according to a new study by Polaris Market Research. The report “Immunoassay Market Size, Share, Trends, Industry Analysis Report: By Product (Reagents & Kits, Analyzers/Instruments, and Software & Services), Technology, Specimen, Application, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Market Forecast, 2023–2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Immunoassays are biochemical techniques that utilize the specific binding properties of antibodies to detect and quantify various biological molecules, such as proteins, hormones, and drugs. They play a crucial role in clinical diagnostics, drug discovery, and environmental monitoring due to their high sensitivity and specificity.

The global immunoassay market growth is attributed to the increasing prevalence of chronic illnesses. Diseases such as diabetes, cardiovascular conditions, and cancer often necessitate early detection for efficient management and treatment. Immunoassays play a crucial role in recognizing biomarkers linked to these conditions, enabling earlier diagnosis and intervention.

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The growing biotechnology sector is anticipated to drive the expansion of the global immunoassay market during the forecast period. Biotechnology firms are heavily investing in research and development of new drugs, treatments, and diagnostic methods. Immunoassays are vital in this processes as they help in identifying and quantifying biomarkers, assessing drug efficacy, and studying disease mechanisms.

Immunoassay Market Report Highlights

• By product, the reagents & kits segment dominated the immunoassay market in 2023 due to their crucial role in the performance and reliability of diagnostic tests.
• In terms of technology, the enzyme immunoassays (EIA) segment accounted for the largest market share in 2023, owing to the versatility and broad applicability of EIA techniques, which include enzyme-linked immunosorbent assays (ELISA) and others.
• The blood segment, based on specimen, holds the largest revenue share in the immunoassay market due to its critical role in a large number of diagnostic and research applications. Additionally, advancements in blood collection and processing technologies have strengthened the segment's strong market presence.
• North America accounted for a major market share in 2023 due to its advanced healthcare infrastructure, high investments in research and development, and strong regulatory environment.
• The market in Asia Pacific is projected to register the fastest growth during the forecast period, owing to the expanding healthcare infrastructure, increasing investments in medical technologies, and a rising burden of chronic and infectious diseases.
• Abbott; BD; Beckman Coulter; Bio-Rad Laboratories, Inc.; bioMérieux SA; F. Hoffmann-La Roche AG; Ortho Clinical Diagnostics; Quidel Corporation; Siemens Healthineers; Sysmex Corporation; and Thermo Fisher Scientific, Inc. are among the global market players.

Polaris Market Research has segmented the immunoassay market report on the basis of product, technology, specimen, application, end user, and region:

By Product Outlook (Revenue, USD Billion, 2019–2032)

• Reagents & Kits

• ELISA Reagents & Kits   
• Rapid Test Reagents & Kits
• ELISPOT Reagents & Kits
• Western Blot Reagents & Kits
• Other Reagents & Kits 

• Analyzers/Instruments

• Open Ended Systems
• Closed Ended Systems

• Software & Services

By Technology Outlook (Revenue, USD Billion, 2019–2032)

• Radioimmunoassay (RIA)
• Enzyme Immunoassays (EIA)

• Chemiluminescence Immunoassays (CLIA)
• Fluorescence Immunoassays (FIA)

• Rapid Test
• Others

By Specimen Outlook (Revenue, USD Billion, 2019–2032)

• Blood
• Saliva
• Urine
• Other Specimens

By Application Outlook (Revenue, USD Billion, 2019–2032)

• Therapeutic Drug Monitoring
• Oncology
• Cardiology
• Endocrinology
• Infectious Disease Testing
• Autoimmune Diseases
• Others

By End User Outlook (Revenue, USD Billion, 2019–2032)                

• Hospitals
• Blood Banks
• Clinical Laboratories
• Pharmaceutical and Biotech Companies
• Academic Research Centers
• Others

By Regional Outlook (Revenue, USD Billion, 2019–2032)

• North America
  • • US
    • Canada
• Europe
  • • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
• Asia Pacific
  • • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
• Latin America
  • • Argentina
    • Brazil
    • Mexico
• Middle East & Africa
  • • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Immunoassay Market Report Scope