PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555559
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555559
Immunochemistry Analyzers Market size was valued at USD 21,675.12 Million in 2023, expanding at a CAGR of 12.5% from 2024 to 2032.
Immunochemistry analyzers are analytical laboratory instruments used for testing medicinal medicines, particular proteins, and infectious diagnoses. Usually available in modular increments, immunochemistry analyzers can function separately or concurrently as a single device. Immunochemistry analyzers are used in the detection and tracking of numerous illnesses, including diabetes, tests for infectious diseases, cancer, and heart disorders because of their adaptability.
Immunochemistry Analyzers Market- Market Dynamics
Rising Incidence of Infectious and Chronic Illnesses to Propel Market Growth
The rising incidence of infectious diseases and chronic illnesses around the world is one of the factors propelling the growth of the immunochemistry analyzers market. The prevalence of chronic illnesses, including diabetes, cardiovascular disease, and autoimmune disorders, is rising as the world's population ages and lifestyles alter. The need for quick and precise diagnosis has also been highlighted by infectious disorders like COVID-19, which has increased demand for immunochemistry analyzers. These cutting-edge diagnostic instruments provide medical practitioners with a thorough evaluation of patients' immune system reactions, supporting early identification, disease tracking, and treatment optimization. The market for immunochemistry analyzers is expected to increase steadily as the prevalence of infectious and chronic illnesses rises.
Immunochemistry Analyzers Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2024-2032)
Based on product type segmentation, the enzyme-linked immunoassay category was predicted to show maximum market share in the year 2023
Based on application segmentation, the AIDS category was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Immunochemistry Analyzers Market is segmented based on Product Type, Application, and Region.
The market is divided into the following categories based on product type: Chemiluminescence Immunoassay, Immunofluorescence Analyzers, Radioimmunoassay, Enzyme-Linked Immunoassay, Consumables and Accessories. The enzyme-linked immunoassay category dominates the market, propelled by its extensive use in pharmaceutical applications, research, and clinical diagnostics. Biomarkers, hormones, and antibodies can all be detected and quantified with ELISA because of its high sensitivity, specificity, and automation simplicity. Furthermore, technological developments have improved the precision and effectiveness of ELISA-based diagnostics, increasing their use. This market sector has grown tremendously as a result of the increasing incidence of chronic diseases like cancer and autoimmune disorders, which have also increased demand for ELISA in diagnostic labs.
The market is divided into the following categories based on application: Therapeutic Drug Monitoring, Oncology, Cardiology, Allergy Testing, AIDS, Endocrinology, Infectious Disease Testing, Autoimmune Disease, and Others. The AIDS category dominates the market and is likely to maintain its dominance during the forecast period, propelled by several elements, such as the requirement for an early and precise diagnosis of HIV/AIDS and rising public awareness worldwide. The need for precise immunochemistry analyzers that can detect and track the disease has been fueled by the ongoing incidence of HIV/AIDS, especially in areas like sub-Saharan Africa, which has highlighted the need for diagnostic instruments. Furthermore, boosting test sensitivity and specificity and driving market expansion are developments in immunoassay technologies. The industry has also been supported by international money and government programs meant to stop the spread of HIV/AIDS.
Immunochemistry Analyzers Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, North America is anticipated to hold the greatest share of the global market for immunochemistry analyzers because of important market companies' presence in the area and technological improvements. Further factors expected to increase market share in the area include the recent introduction of new products and the cooperation of numerous organizations in developing biotechnology for illness diagnosis and treatment. Architect i1000SR, an automated immunoassay instrument, is one example of a product that Abbott Laboratories has introduced. Moreover, immunochemistry analyzers are needed for precise diagnosis and monitoring due to the high incidence of infectious diseases and chronic illnesses in North America. In addition, the market share of immunochemistry analyzers in this area is increasing due to encouraging government programs and research partnerships between industry and academia.
In addition, the immunochemistry analyzers market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific due to the rise in the frequency of infectious and chronic illnesses. Since businesses are investing more in research and development (R&D) and many organizations are implementing automated instruments, countries like China and India are contributing a sizable portion of the regional market. Furthermore, there is a greater need for precise disease detection and therapy due to the region's aging population. Governments & healthcare organizations in the Asia-Pacific region have embraced cutting-edge medical solutions with initiative, which has increased the market share.
Leading market participants such as Siemens; Abbott Diagnostics; Beckman Coulter; Ortho Clinical Diagnostics; Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche Ltd., are working together with other businesses in an attempt to keep one step ahead of the competition. To increase the variety of products they offer, many businesses are also investing in the introduction of new products. Another important tactic used by players to diversify their product lines is mergers and acquisitions.
June 2022: The FDA granted Roche permission to utilize the Cobas SARS-CoV-2 Duo on the fully automated Cobas 6800/8800 Systems under an Emergency utilize Authorization.
July 2021: To obtain rights for the BNP assay's production, distribution, and sales by Quidel for Beckman Coulter analyzers, Beckman Coulter and Quidel Corporation agreed.