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The Global Immunodiagnostics Market size is forecast to increase by USD 22.67 billion at a CAGR of 12% between 2022 and 2027. The market witnesses growth driven by key factors in the healthcare sector. With an increased demand for biomarker-based tests, there's a heightened focus on early disease detection and personalized medicine. Furthermore, advancements in technology in immunodiagnostics enhance diagnostic accuracy and efficiency, meeting the evolving needs of healthcare professionals. Additionally, the rising geriatric population contributes to market expansion, as age-related illnesses drive demand for diagnostic solutions. This dynamic market landscape underscores the pivotal role of immunodiagnostics in shaping modern healthcare practices globally. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market share growth by the reagents and consumables segment will be significant during the forecast period. The reagents and consumables segment is expected to increase rapidly compared with the immunodiagnostic instruments market. The high demand for high-throughput screening with the help of immunoassays has led to the production of new reagents to detect antigens. The implementation of fluorescence and chemiluminescence technology with new reagents has also increased in the market.
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The reagents and consumables segment was valued at USD 16.32 billion in 2017 and continued to grow until 2021. The high demand for high-throughput screening with the help of immunoassays has led to the production of new reagents. The implementation of fluorescence and chemiluminescence technology with new reagents has also increased in the market. The growing number of immunodiagnostic tests available in the market compels companies to increase their product portfolio for test reagents. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market growth is driven by factors such as the rise in the geriatric population, increasing healthcare expenditure, and the need for early diagnosis and effective treatment of diseases. Moreover, increased awareness among the population has resulted in people undergoing regular tests and checkups, which has increased the sales of immunodiagnostic devices in the country. In the US, the number of people diagnosed with diabetes is increasing. Also, adult obesity in the country is increasing. Obesity-related conditions include heart disease, stroke, type 2 diabetes, and certain types of cancer, which are some of the leading causes of preventable, premature death. Hence, these factors can increase the demand for immunodiagnostics in the region during the forecast period.
The market addresses a wide range of diseases, including infectious diseases, cardiovascular diseases, cancer, gastrointestinal diseases, and chronic diseases, catering to the growing geriatric population and changing demographics. Utilizing advanced diagnosis kits, analyzers, and immunodiagnostics technologies, it enables early detection and diagnosis of conditions such as STI, Hepatitis B, and autoimmune diseases, enhancing patient outcomes and reducing healthcare expenditures. This market's supply chain network and cost management strategies support the efficient delivery of reagents, assays, and diagnostic solutions, particularly in developed nations with aging populations. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand for biomarker-based tests is one of the key factors driving the growth of the global immunodiagnostics market growth. Leveraging sophisticated research and development in nucleic acid expression, proteomics, and sequencing has facilitated the emergence of biomarkers. These molecular entities, encompassing proteins, genes, and hormones, serve as critical indicators for disease detection. Technological advancements are compelling manufacturers to devise assays tailored to burgeoning clinical domains like cancer, cardiovascular diseases, and women's health. Consequently, traditional drug therapies are gradually being supplanted, fostering increased revenue from personalized testing device sales.
In response to market dynamics, numerous companies are endeavoring to develop cost-effective biomarker-based tests, aiming to bolster their market penetration. Furthermore, the heightened approval of devices by regulatory authorities for such tests, strategic partnerships among industry players, and a proliferation of product launches are anticipated to further fuel the growth trajectory of the market throughout the forecast period.
Growth in demand for personalized medicine will fuel the global immunodiagnostics market growth. There is a growing trend toward personalized medicine, which requires precision diagnostics. Immunodiagnostics plays a key role in precision medicine by enabling accurate diagnosis and monitoring of diseases at the molecular level. Personalized medicine refers to the tailoring of medical treatment to the individual characteristics of each patient. Prescribing the medicines to individuals by accurate diagnosis by age, disease, gender, and criticality of disease. This approach requires precise diagnostic tests that can accurately identify specific biomarkers and molecular targets for different diseases. Immunodiagnostics plays a critical role in precision medicine by providing high sensitivity and specificity for the detection of disease biomarkers.
In recent years, there has been a growing demand for personalized medicine, particularly for the treatment of cancer and autoimmune diseases. Immunodiagnostics enables the identification of specific targets for these diseases, which can help clinicians select the most effective treatment options for individual patients. Hence, the global immunodiagnostics market is expected to grow during the forecast period as personalized medicine becomes more prevalent. Such factors will increase the market growth during the forecast period.
The high cost of immunodiagnostics tests is a major challenge impeding the global immunodiagnostics market growth. The high cost of immunodiagnostic tests is a major challenge in the global immunodiagnostics market. Immunodiagnostic testing can be expensive and can limit patient access to care. This is especially true in low- and middle-income countries where resources may be limited. Immunodiagnostic tests are complex and require sophisticated techniques, specialized equipment, and highly skilled personnel, all of which contribute to the high cost of these tests. Additionally, the cost of raw materials and reagents used in immunodiagnostic tests is also high, adding to the overall cost of these tests.
The high cost of immunodiagnostic tests can be a significant barrier to access for patients, particularly in developing countries where healthcare budgets are limited. This can lead to underdiagnosis and delayed treatment, which can have serious consequences for patient outcomes. Moreover, the high cost of these tests can also limit their adoption in certain clinical settings, where there may be cost constraints or limitations on reimbursement. Therefore, the high cost of immunodiagnostics tests will hamper the growth of the global immunodiagnostics market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Immunodiagnostics Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adaptive Biotechnologies Corp.: The company offers immunodiagnostics solutions such as clonoSEQ and immunoSEQ Dx. Also, the company focuses on providing immune-driven medicine.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market is witnessing robust growth due to the increasing prevalence of infectious diseases, cardiovascular diseases, and gastrointestinal diseases across different demographics and lifestyles. Advanced diagnosis kits and analyzers play a crucial role in early detection, leveraging Antigen antibody reactions for accurate results. With rising cases of autoimmunity diseases like Hepatitis B, particularly among the aged population, the demand for immunodiagnostics is on the rise. Pathologists utilize these tools to manage healthcare expenditures effectively while ensuring efficient supply chain networks for reagents & consumables. Investments in research & development drive innovation and cost management, especially in developed nations, focusing on the prevention of diseases in fields like oncology & endocrinology.
The market is pivotal in addressing the rising burden of chronic diseases worldwide. Through innovative immunoassay techniques and technological advancements, it facilitates early detection and management of various conditions, including autoimmune disorders. Robust patient epidemiology and pipeline analysis aid in understanding disease trends and developing targeted solutions. Key technologies like chemiluminescence immunoassay (CLIA) and enzyme-linked immunosorbent assay (ELISA) enable accurate biomarker discovery for precise diagnosis. However, challenges such as stringent regulatory requirements and technical limitations underscore the need for continuous innovation and adherence to the regulatory framework. Despite these hurdles, the market thrives with an increased focus on preventive health measures and the growing demand for in vitro diagnostics in hospitals and clinics.
The immunodiagnostics market report forecasts market growth by revenue at global, regional & country levels and provides an aalysis of the latest trends and growth opportunities from 2017 to 2027.
Immunodiagnostics Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12% |
Market growth 2023-2027 |
USD 22.67 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.0 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Adaptive Biotechnologies Corp., AESKU.GROUP GmbH and Co. KG, bioMerieux SA, Danaher Corp., Exagen Inc., F. Hoffmann La Roche Ltd., HUMAN Gesellschaft fur Biochemica und Diagnostica mbH, Nexus Dx Inc., Omega Diagnostics Group Plc, QuidelOrtho Corp., Seramun Diagnostica GmbH, Siemens AG, SQI Diagnostics Inc., Sysmex Corp., Thermo Fisher Scientific Inc., Werfenlife SA, Tecan Trading AG, OraSure Technologies Inc., and DiaSorin SpA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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