According to our new research study on “Immunoassay Market Forecast to 2027 – Global Analysis – by Product, Technology, Application, End User, and Geography,” the market size is expected to reach US$ 37,987.76 million by 2027 from US$ 21,800.00 million in 2018; it is estimated to grow at a CAGR of 6.5% during 2019-2027.
The report highlights trends prevailing in the market and factors driving its growth. The immunoassay market growth is attributed to growing biotechnology & biopharmaceutical industries, and increasing adoption of immunoassay products. However, complex assay procedures and limitations associated with immunoassays may hinder the growth of market.
The List of Companies - Immunoassay Market: F.Hoffmann-La Roche Ltd., Abbott, Siemens, bioMérieux SA, BD, Danaher Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Thermo Fisher Scientific Inc, Quidel Corporation
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The report scrutinizes different business approaches and frameworks that pave the way for success in businesses. The report used expert techniques for analyzing the Immunoassay Market; it also offers an examination of the global market. To make the report more potent and easy to understand, it consists of info graphics and diagrams. Furthermore, it has different policies and development plans which are presented in summary. It analyzes the technical barriers, other issues, and cost-effectiveness affecting the market.
Immunoassay Market: Segmental Overview
Product-Based Insights
The global immunoassay market, based on product, is segmented into reagents & kits, analyzers and instruments, and software & services. The reagents & kits segment was the largest among the product subsegments in the immunoassay market in 2018. However, the software & services segment is expected to witness growth in its demand at the fastest CAGR of 6.8% during 2019 to 2027.
Technology-Based Insights
The global immunoassay market, based on technology, is segmented into enzyme-linked immunosorbent assays (ELISA), fluorescence, chemiluminescence, rapid test, western blot, enzyme-linked immune absorbent spot (ELISPOT), and polymerase chain reaction (PCR). The chemiluminescence segment was the largest among the technology subsegments in the immunoassay market in 2018. However, the rapid test segment is expected to witness growth in its demand at the fastest CAGR of 7.3% during 2019 to 2027.
Application-Based Insights
The global immunoassay market, based on application, is segmented into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases, and others. The therapeutic drug monitoring segment was the largest among application subsegments in the immunoassay market in 2018. However, the infectious disease testing segment is expected to witness growth in its demand at the fastest CAGR of 7.0% during 2019 to 2027.
End User-Based Insights
The global immunoassay market, based on end user, is segmented into hospitals, blood banks, clinical laboratories, pharmaceutical & biotech companies, academic research centers, and others. The hospitals segment was the largest among the end user subsegments in the immunoassay market in 2018. In addition, the hospitals segment is expected to witness growth in its demand at the fastest CAGR of 6.9% during 2019 to 2027.
Key Market Trends:
- The market has been witnessing healthy growth within the recent years and is predicted to continue it throughout the forecast period 2019 to 2027.
- Major players are regularly operating and focusing to develop new product still as increase their expenditure on Research and Development of Immunoassay.
- The extensive changes and challenges has not affected the sales of Immunoassay, rather created a promising market within the gift and within the forecast period.
Moreover, the report has explored changing factors for the market segments. It covers the growth factors of the worldwide market based on end-users. It’s a Immunoassay market research report which has been designed using the primary and secondary sources. The report allows the customer to set up a complete plan for the development and growth of their businesses for the projected period.
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