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The immunodiagnostics market size is estimated to grow at a CAGR of 12% between 2022 and 2027. The market size is forecast to increase by USD 22,669.75 million. The market's growth depends on several factors, including the increased demand for biomarker-based tests, advancements in technology in immunodiagnostics, and the rising geriatric population.
This immunodiagnostics market report extensively covers market segmentation by product (reagents and consumables and immunodiagnostic systems), application (oncology and endocrinology, hepatitis and retrovirus, infectious disease, GI stool, and other applications), and geography (North America, Europe, Asia, and Rest of World (ROW)). It 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 increased demand for biomarker-based tests is notably driving the market growth, although factors such as the high cost of immunodiagnostics tests may impede the market growth. 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. The use of sophisticated research and development in the fields of nucleic acid expression, proteomics, and sequencing has led to the development of biomarkers. Molecular biomarkers are proteins, genes, hormones, and other molecular entities that help detect the presence or absence of disease. Technological advances are forcing manufacturers to develop assays for rapidly growing clinical areas such as cancer, heart disease, and women's health. This factor is expected to replace traditional drug therapy during the forecast period, leading to increased revenue from sales of personalized testing devices.
Various companies are now developing cost-effective biomarker-based tests to increase their market penetration. The rise in the approval of devices by regulatory authorities for these tests, partnerships among vendors, and an increase in product launches are also expected to propel global immunodiagnostics market growth during 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 to 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
Vendors 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, 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 vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 16,323.54 million 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 COVID-19 outbreak had a significant impact on the North American immunodiagnostics market. However, in 2021, the vaccination efforts started to ramp up, and the number of COVID-19 cases decreased. The North American immunodiagnostics market recovered from pandemic. The demand for COVID-19 diagnostic tests is likely to decline, but the need for immunodiagnostics products for other diseases is expected to increase as healthcare systems work to catch up on delayed procedures and address the backlog of diagnostic tests. The market is also expected to benefit from advancements in technology and the growing trend of personalized medicine. Therefore, the North American immunodiagnostics market is expected to continue to grow during the forecast period.
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.
Technavio categorizes the global immunodiagnostics market as a part of the global life sciences tools and services market. The parent global life sciences tools and services market covers products and companies engaged in the research and development (R&D) of a variety of product categories, including capital equipment, instruments, accessories, and consumables that are used for R&D on pharmaceuticals and biotechnology products and laboratory diagnosis of various diseases. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Immunodiagnostics Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12% |
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Market growth 2023-2027 |
USD 22,669.75 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
11.0 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Canada, UK, Germany, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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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. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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