Immunodiagnostics Market is valued at USD 13.02 Billion in 2018 and expected to reach USD 20.98 Billion by 2025 with the CAGR of 8.28% over the forecast period.
Increasing number of geriatric population, rising utilization of immunodiagnostics in rapid point of care testing device are some factors driving the growth of the global Immunodiagnostics market.
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Scope of the Immunodiagnostics Market Report:
Immunodiagnostics uses the ability of antibodies to specifically bind to an antigen of interest. It is the branch of in vitro diagnostics that compacts with the diagnosis of several diseases on the basis of antigen antibody reaction. This sensitive, specific and time-saving procedure plays a vital role in understanding and diagnosing disease. As of infectious diseases and cancers to metabolic disorders and cardiac health, immunodiagnostics provides highly sensitive insights into a wide range of conditions, enabling the development of targeted treatments and therapies. It is used mainly for detecting and diagnosing infectious diseases, chronic diseases (cancer, cardiovascular diseases), autoimmune disease, hormonal disorder etc. These tests are also used to differentiate between compatible blood types. It provides precise, quick and accurate results.
Immunodiagnostics market report covers prominent players are,
Abbott Laboratories, Danaher, Roche Diagnostics, F.Hoffmann-La Roche, Thermo Fisher Scientific, Johnson Johnson, Siemens, Others
Immunodiagnostics market report is segmented on the basis of product, application and by regional & country level. Based upon product, immunodiagnostics market is classified into immunodiagnostic instruments and immunoassays. Based upon application, immunodiagnostics market is classified into oncology and endocrinology, hepatitis and retrovirus testing, infectious disease testing and GI stool testing.
The regions covered in this Immunodiagnostics market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of image-based cytometer is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Immunodiagnostics Market Segmentation –
By Product: Immunodiagnostic Instruments, Immunoassays,
By Application: Oncology and Endocrinology, Hepatitis and Retrovirus Testing, Infectious Disease Testing, GI Stool Testing
Immunodiagnostics Market Dynamics –
Increasing prevalence of chronic diseases, growing adoption of immunodiagnostics products for improving the efficiency of laboratories around the world are some factors helps to the growth of the immunodiagnostics market. According to the World Health Organization (WHO), the second-leading cause of death around the world is cancer, which was responsible for 9.6 million deaths in 2018. Globally, about 1 in 6 deaths are due to cancer and approximately 70% of deaths from cancer occur in low- and middle-income countries. Moreover, the geriatric population is more liable to different chronic diseases like cardiovascular diseases; the requirement for teleconsultations will increase growth of market. As per WHO , about 17.9 million people die every year due to cardiovascular diseases (CVDs), an estimated 31% of the global deaths However, high investment research and developments and expensive procedure during disease diagnosis may hamper the growth of immunodiagnostics market. Moreover, due to technological advancements in healthcare sectors, increasing government initiatives and collaboration with market players for raising awareness regarding the innovative immunodiagnostics technologies is predicted to create wide opportunities for the players operating in the Immunodiagnostics market during forecast period. However, stringent government regulations, high cost of the sophisticated immunodiagnostics testing such as analyzers and assays, reluctance to adopt newer technology in emerging economies may restrain the market growth.
Immunodiagnostics Market Regional Analysis –
North America is dominating the immunodiagnostics market with the potential rate due to rising awareness among the people about advanced diagnosis in healthcare. Increasing number of cases of cancer in the United States will helps in growth of the Immunodiagnostics market. As per National Institutes of Health, an estimated 1,735,350 new cases of cancer will be diagnosed in the United States in 2018. Moreover, increasing number of players is entering the Immunodiagnostics market with varied service offerings market region.
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