(EMAILWIRE.COM, June 14, 2019 ) According to the new market research report immunoassays market is expected to reach USD 27.15 billion by 2023 from USD 20.19 billion in 2018, at a CAGR of 6.1%. The market growth is primarily driven by the increasing incidence of chronic and infectious diseases and technological innovations in immunoassays instruments.
The global immunoassays market is segmented by product and service, platform, technology, specimen type, application, end user, and region. By product and service, the market is segmented into reagents and kits, analyzers, and software & services. The immunoassay reagents and kits segment accounted for the largest share of this market in 2017. The large share of this segment can primarily be attributed to the requirement of the repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe as a result of the rising incidence of chronic and infectious diseases.
By platform, the market is segmented into chemiluminescence immunoassays (CLIAs), colorimetric immunoassays (CIs), fluorescence immunoassays (FIAs), radioimmunoassays (RIAs), and other platforms. The CLIAs segment accounted for the largest share of the immunoassays market in 2017. The large share of this segment can primarily be attributed to the low cost and high sensitivity of CLIA-based tests.
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On the basis of technology, the immunoassays market is segmented into enzyme-linked immunosorbent assays (ELISA), rapid tests, western blotting, enzyme-linked immunospot (ELISPOT), immuno-PCR, and other technologies. The ELISA segment accounted for the largest share of the immunoassays market in 2017. The large share of this segment can primarily be attributed to the increasing use of immunoassay tests in cancer, infectious diseases, and therapeutic drug level monitoring.
By specimen type, the immunoassays market is segmented into blood, urine, saliva, and other specimens. In 2017, the blood samples segment accounted for the largest share of the immunoassays market. Moreover, this segment is projected to register the highest CAGR during the forecast period, primarily due to the increasing number of blood donations and the rising incidence of chronic and infectious diseases across the globe.
By application, the immunoassays market is classified into infectious diseases, endocrinology, bone and mineral disorders, oncology, cardiology, hematology and blood screening, autoimmune disorders, toxicology, neonatal screening, and other applications. In 2017, the infectious diseases segment accounted for the largest share of the immunoassays market. The large share of this segment can be attributed to the increasing incidence of infectious diseases and the rising number of product approvals in this segment.
On the basis of end users, the immunoassays market is segmented into hospitals, clinical laboratories, blood banks, research and academic laboratories, pharmaceutical and biotechnology companies and contract research organizations (CROs), and other end users. The hospitals segment accounted for the largest share of the immunoassays market in 2017. The large share of this segment is primarily attributed to the fact that most diagnostic tests are performed in hospitals or hospital-attached laboratories due to easy access to reports and smooth logistics. Additionally, these laboratories also work as reference laboratories to small hospitals and physician offices.
On the basis of region, the immunoassays market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for the largest share of the immunoassays market. The availability of government funds, growing use of immunoassays in clinical diagnostics, and the presence of key players in the region are driving the immunoassays market in North America.
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The factors such as the high degree of consolidation and a complex regulatory framework for the approval of new products may restrain market growth to a certain extent.
Major industry players adopted product launches and partnerships, collaborations, & agreements to maintain and improve their position in the immunoassays market. Roche (Switzerland), Abbott Laboratories (US), Siemens (Germany), and Danaher Corporation (US) have been identified as key players in this market. These companies have a broad product portfolio with comprehensive features and have also expanded their presence geographically. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.

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