Industry Overview

Global immunoassay analyzers market was valued at USD XX Bn in 2020 and is expected to grow at a CAGR of 16.4% during 2021–2029 to reach 95.16 Bn by the year 2029. The market growth is owing to advancements in precise analytical platforms such as 2D resolution for chemiluminescence multiplex immunoassay and flow-injection chemiluminescent immunoassay and magnetic nanoparticles chemiluminescence immunoassay.

Introduction

Immunoassay analyzers are medical instruments that aid in the identification of protein examines present in a specific blood sample during an immunoassay test. Their popularity is expanding as a result of their advantages in reporting tests and the precision with which they operate.

One of the major reasons anticipated to drive the growth and demand of the immunoassay analyzers market is the rising need for immunoassay to diagnose and detect microorganism-based illnesses. Furthermore, over the forecast period of 2021 to 2029, the rapid rise in the need for controlling and suppressing the occurrence of major diseases, as well as the rise in the incidence of chronic disease conditions such as cancer and autoimmune disorders, are expected to drive the global immunoassay analyzers market.

Increased demand for improved diagnostic equipment, as well as increased automation and integration trends, have resulted in the creation of novel products that are likely to provide considerable growth prospects for the immunoassay analyzers market over the forecast period.

Immunoassay Analyzers Market Covid-19 Pandemic Impact & Recovery Analysis

The COVID-19 pandemic has had a significant impact on the clinical diagnostic industry’s research into assay development and molecular diagnostics. Most leading manufacturers are concentrating their efforts on assisting in the development of this diagnostic equipment to reduce the virus’s effect and transmission.

Major players in immunoassay analyzers are projected to shift technological ventures to compete. implemented strategy to grab increasing consumer demand in the post-pandemic recovery phase.

Immunoassay Analyzers Market Dynamics

The immunoassay analyzers market is expected to grow due to rising cases of infectious diseases across various regions. Covid -19 pandemic affected the global healthcare facilities in the year 2020. The greatest increases in cases came from New York, Connecticut, and New Jersey in the U.S., which resulted in increasing demand for immunoassay analyzers in the country.

Increasing demand for high-end diagnostic equipment with precise results obtaining capabilities along with government initiatives to focus on healthcare infrastructure services is projected to drive the demand for immunoassay analyzers over the forecast period 2021-2029.

However, the high initial cost associated with the integration of immunoassay analyzers is expected to create major growth hurdles across the globe.

Immunoassay Analyzers Market Segment Analysis

The immunoassay analyzers market is segmented by product, by application, by end-users, & by region.

Insights by Product

To be competitive in the business, biotechnology and pharmaceutical firms invest extensively in R&D to produce breakthrough products. Consumables such as reagents and accessories are in high demand as R&D initiatives increase. As a result, in 2020, the consumables sectors dominated the business, with a market share of roughly 69% with a CAGR of XX percent, this category is expected to dominate the market over the forecast period. The consumables segment’s significant growth is primarily due to recurrent purchases, which generate revenue for the segment. The expansion of the segment is being aided by advancements in the industry, such as the availability of advanced and user-friendly solutions such as portable kits and paper-based electrochemical devices.

Due to its high sensitivity and extensive applicability in a variety of diagnostic examinations, enzyme-linked immunoassay (ELISA) accounted for the second-biggest market share after consumables. The need for chemiluminescence tests is being driven by the development of high throughput methods and automation of screening operations.

Insights by Application

Infectious illnesses are spreading due to increased cross-country migration and poor hygienic practices. In addition, treatment resistance caused by a genetic mutation in viruses and bacteria is increasing the occurrence of infectious illnesses over the world. As a result, the need for infectious illness diagnostics is always increasing. Furthermore, government initiatives aimed at reducing hospital-acquired infections are driving up demand for infection diseases application segments in the coming years.

Insights by End-Users

Based on end-user, the market is segmented into pharmaceutical companies, hospitals and clinics, and medical diagnostics laboratories. In the year 2020, hospitals and clinics accounted for the largest market share in terms of revenue owing to increasing demand for immunoassay analyzers amid covid-19 Pandemic. However, pharmaceutical companies registered the highest CAGR over the forecast period and are projected to lead the market in terms of revenue share in the coming years.

Immunoassay Analyzers Market Regional Analysis

In the year 2020, North America accounted for more than 39% market share with the US being the leading market and holding strong growth opportunities in the coming years. Countries such as Canada and Mexico contribute major revenue share in the year 2020 and are expected to maintain the market position over the forecast period.

Europe accounted for the second-largest market share in the year 2020, accounting for growing concerns over traditional test equipment and government initiatives to robust healthcare in the countries such as U.K., Germany, and Italy.

Competitive Insights

The Immunoassay Analyzers market is highly competitive in nature with global companies competing with regional players. Key players operating in the immunoassay analyzers market are bioMerieux S.A., Abbott Laboratories, Roche Diagnostics, Siemens Healthineers, Diasorin S.p.A., Beckman Coulter, Inc., Bio-Rad Laboratories Inc., Becton Dickinson and Company, Sigma Aldrich. Co. LLC., among others. (20+ Companies profiled in the final report)

Prominent players in the immunoassay analyzers market are focusing largely on mergers, acquisitions, partnerships, and portfolio expansion to gain a competitive edge and grab untapped market opportunities.

Immunoassay Analyzers Market Report Coverage

Global Immunoassay Analyzers Market, by Product

• Chemiluminescence immunoassay
• Immunofluorescence analyzers
• Radioimmunoassay
• Enzyme-linked Immunoassay
• Consumables & Accessories

Global Immunoassay Analyzers Market, by Application

• Cardiac Markers
• Allergy
• Auto-immune Diseases
• Bone and Mineral Disorders
• Oncology & Endocrinology
• Hepatitis and retroviruses
• Infection diseases

Global Immunoassay Analyzers Market, by End-User

• Pharmaceuticals Companies
• Hospitals & Clinics
• Medical Diagnostic Laboratories

Global Immunoassay Analyzers Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
• Asia Pacific
  • China
  • South Korea
  • Japan
  • Australia
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • United Arab Emirates
  • South Africa
• South America
  • Brazil
  • Argentina