Key Players and Innovations Transforming the Global Immunoassay Market

Immunoassay refers to a laboratory technique that is used to detect analyte in blood, urine or saliva. This technique is majorly used in medical diagnostics and pharmaceutical development. It is also used in research and clinical testing sectors. Immunoassay refers to the principle of binding an antibody to its target antigen. This binding is measured using a signal produced through enzymes or radioactivity. The intensity of the signal determines the concentration of the analyte in the sample, which makes way for accurate detection. 

Enzyme-linked immunosorbent assay is one of the majorly adopted formats. This is attributed to its simplicity and reliability. Radioimmunoassay refers to the method that was adopted in early days. This method is known for its high sensitivity. Scientists no longer prefer this method due to associated safety concerns. Chemiluminescent immunoassays and fluorescent immunoassays are also adopted in modern laboratories. This is attributed to their compatibility with automation. 

Allied Market Research released a report on the immunoassay market. The industry was valued at $35.0 billion in 2023 and is anticipated to attain $61.6 billion by 2033. The AMR report offers industry insights and trends along with market dynamics. This helps the stakeholders make strategic decisions. The industry is segmented into product, technology, specimen, application, end user and region. 

Region-wise, North America holds the major share of the immunoassay sector. This is attributed to advancements in healthcare infrastructure and increase in adoption of diagnostic technologies across the region. Europe witnesses growth due to presence of well-established laboratory systems as well as strong regulatory standards. The Asia-Pacific region is expected to experience growth. This is due to rise in healthcare spending and improvements in diagnostic facilities across the region. LAMEA is anticipated to witness moderate growth owing to improvements in healthcare infrastructure and rise in diagnostic awareness. 

Forces shaping growth of immunoassay technologies 

Increase in prevalence of chronic and infectious diseases boost the demand for immunoassays. Further, rise in focus on early disease detection and preventive healthcare that help improve treatment outcomes and reduce healthcare costs also foster the growth of the sector. However, high costs of advanced immunoassay instruments and reagents limit the adoption of immunoassays across different sectors. Also, regulatory requirements that increase development time and costs for manufacturers deter the growth of the sector. 

Despite these challenges, advancements in laboratory automation and diagnostic technologies further support the growth of the sector. The development of highly sensitive assays, multiplex testing, and automated platforms is anticipated to be opportunistic for the growth of the immunoassays sector in the upcoming years. Introduction of portable and rapid immunoassay devices make them convenient for the end users and deliver quicker results as well. This is projected to increase the demand for immunoassays in the future years. 

List of key players 

• F. Hoffmann-La Roche Ltd. 
• Merck kGaA 
• Danaher Corporation 
• Becton, Dickinson and Company 
• Abbott Laboratories 
• Thermo Fisher Scientific, Inc. 
• Siemens Healthineers (Siemens AG) 
• Ortho Clinical Diagnostics 
• DiaSorin S.p.A. 
• bioMerieux SA 
• Sysmex Corporation 

Developments across the immunoassay sector 

Integration of automation and digital systems that helps reduce manual handling, improve consistency, and support high-volume testing is one of the major developments across the immunoassay sector. Also, advancement of multiplex immunoassays that allow the detection of multiple analytes in a single sample foster the adoption of immunoassays. Another development across the sector includes the improvement in detection methods that help enhance sensitivity and accuracy. These developments continue to expand the role of immunoassays in modern diagnostics. 

Concluding notes 

Immunoassay plays an important role in disease diagnosis and monitoring. It is majorly adopted to detect infectious diseases, autoimmune diseases, and others. It also helps with therapeutic drug monitoring, which helps clinicians adjust medication dosages for better patient outcomes. Automation is a major development across the immunoassay sector, which makes way for high-throughput testing with reduced manual error and faster turnaround times. This plays an important role in hospitals and diagnostic laboratories. Thus, the sector is poised to experience growth in the upcoming years. 

The report, published by Allied Market Research, focuses on market dynamics and key trends of the immunoassay market analysis. The study provides competitive landscape analysis of the key players to understand the adopted strategies and competitive intensity of competitors. It also offers a study of threat of new entrants, and bargaining power of buyers, on the immunoassay market outlook.