USD 16.2 billion
Immunodiagnostics Market Size, Share, Growth Analysis, By Product(Instruments, Reagents & Consumables), By Application(Oncology & Endocrinology, Hepatitis & Retrovirus, Cardiac Markers, Infectious Diseases), By End User(Clinical Laboratories, Hospitals, Physician’s Offices, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2401 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
66
|Figures:
75
Immunodiagnostics Market Insights
Global Immunodiagnostics Market size was valued at USD 23.2 billion in 2022 and is poised to grow from USD 24.17 billion in 2023 to USD 33.6 billion by 2031, growing at a CAGR of 4.20% during the forecast period (2024-2031).
Growing incidence of chronic, infectious, and autoimmune diseases around the world is projected to primarily augment the demand for immunodiagnostics over the coming years. High emphasis on improving diagnostic capabilities and surging demand for early diagnosis are also expected to offer new business scope for immunodiagnostics providers in the future. Advancements in diagnostics technologies and rapidly rising demand for personalized medicine are also slated to increase the demand for immunodiagnostics over the coming years. High adoption of home healthcare and rising use of remote healthcare practices are expected to bolster the demand for home-based immunodiagnostics going forward. Rising healthcare expenditure and increasing geriatric population are also slated to create new opportunities for immunodiagnostics providers in the long run. On the contrary, inconsistency in regulatory norms and reimbursement policies, dearth of skilled professionals, high complexity of diagnostic procedures, and risk of false positives are estimated to be key restraints for immunodiagnostics market growth across the study period.
US Immunodiagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
reagent and kits
Fastest Growth
Instruments
Growth Rate
7.64% CAGR
Global Immunodiagnostics Market ($ Bn)
Country Share for North America Region (%)
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Immunodiagnostics Market Segmental Analysis
Global Immunodiagnostics Market is segmented by Product, Application, End user, and region. Based on Product, the market is segmented into Instruments, and Reagents & Consumables. Based on Application, the market is segmented into Oncology & Endocrinology, Hepatitis & Retrovirus, Cardiac Markers, Infectious Diseases, and Others. Based on End user, the market is segmented into Clinical Laboratories, Hospitals, Physician’s Offices, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Product
Instruments are estimated to hold the largest immunodiagnostics market share over the coming years. High investments in the development of advanced immunodiagnostics technologies are forecasted to help this segment maintain its dominant stance going forward. Analyzers, readers, imaging machines, and sample preparation apparatus are some key instruments that are expected to always bring in major revenue for immunodiagnostics companies focusing on this segment. Growing demand for reliable and better diagnostic solutions is slated to promote the uptake of advanced immunodiagnostics instruments in the long run. High emphasis on better diagnostic efficiency and reliability also bolsters the dominance of instruments in the global immunodiagnostics industry.
Meanwhile, the demand for reagents and consumables in immunodiagnostics is forecasted to increase at a notable pace in the long run. Increasing emphasis on improving diagnostic accuracy and detection capabilities of immunodiagnostics tests and instruments is expected to bolster the sales of reagents and consumables going forward. The disposable nature of most reagents and consumables makes them a frequent purchase for any immunodiagnostics provider. Advancements in reagent formulations and growing adoption of point-of-care testing are also estimated to create new opportunities for immunodiagnostics companies operating in this segment going forward.
Analysis by Application
Infectious diseases are projected to account for a dominant immunodiagnostics market share going forward. Rapidly increasing incidence of infectious diseases around the world and growing awareness regarding the diagnosis and treatment of the same are helping this segment bring in the most revenue in the future. Launch of new public and private institution efforts to minimize the risk of pandemic through rapid spread of infectious diseases after the COVID-19 pandemic of 2020 are also slated to bolster the demand for immunodiagnostics in the long run. Rising emphasis on preventive care and vaccination programs is also expected to create new business scope for immunodiagnostics providers.
On the other hand, the demand for immunodiagnostics in oncology applications is slated to rise at a robust pace in the future. Growing cases of different cancer indications around the world and increasing investments in oncology R&D are forecasted to make this a highly opportune segment going forward. Rising emphasis on early and accurate diagnosis of cancer is also forecasted to boost sales of immunodiagnostics products owing to their high precision and diagnostic accuracy. Launch of new efforts to combat the issue of rising cancer prevalence are also slated to bolster the adoption of immunodiagnostics via this segment over the coming years.
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Immunodiagnostics Market Regional Insights
North America is predicted to spearhead the demand for immunodiagnostics in the world. High investments in medical R&D, high healthcare spending potential, and availability of favorable reimbursement policies are expected to be key factors promoting the demand for immunodiagnostics in this region. Moreover, rising adoption of home care and quick adoption of advanced diagnostic technologies are also expected to create new opportunities for immunodiagnostics companies in the long run. The United States and Canada are forecasted to emerge as the most opportune markets in the North American region. The presence of leading immunodiagnostics companies also allows this region to hold sway over the global immunodiagnostics market outlook through 2031.
The Asia Pacific region is forecasted to emerge as the fastest-expanding market for immunodiagnostics companies in the world. Surging prevalence of multiple diseases, rising spending on healthcare, and increasing awareness regarding early diagnosis are estimated to be factors driving up the adoption of immunodiagnostics in this region. The presence of a large patient population and high emphasis on healthcare infrastructure development are also promoting the sales of immunodiagnostics products in the Asia Pacific. Supportive government initiatives for medical R&D make Japan, China, and India unmissable markets for immunodiagnostics providers focusing on this region.
Global Immunodiagnostics Market By Region
- Largest
- Fastest
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Immunodiagnostics Market Dynamics
Immunodiagnostics Market Drivers
Rising Incidence of Chronic and Infectious Diseases
-
Changes in eating habits and the adoption of sedentary lifestyles are contributing to the rising prevalence of multiple chronic and infectious diseases around the world. Immunodiagnostics provides accurate and early disease detection, which is expected to make them a mainstay in the healthcare industry as emphasis on improving patient outcomes rises globally.
Advancements in Immunodiagnostics Technologies
-
Growing investments in medical R&D and rising demand for better diagnostics technologies are projected to help promote innovation in immunodiagnostics technologies. Chemiluminescence immunoassays (CLIA), enzyme-linked immunosorbent assays (ELISA), and rapid point-of-care (POC) diagnostics are projected to be some of the most popular and high in demand advanced immunodiagnostics technologies in the future.
Immunodiagnostics Market Restraints
Inconsistent Reimbursement and Regulatory Scenario
-
Regulatory requirements for approval of immunodiagnostics products and technologies vary vastly around the world. Moreover, reimbursement for immunodiagnostics also varies from country to country. This makes it difficult for companies as well as patients to have consistent access to advanced immunodiagnostics products and technologies going forward thereby impeding market growth potential.
Absence of Skilled Professionals
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Performing immunodiagnostics tests requires trained and skilled professionals for optimal diagnosis and clear results. However, the healthcare industry is faced with a shortage of such skilled professionals, which is expected to slow down the demand for immunodiagnostics in the long run. This issue is especially prominent in rural and remote parts of the world.
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Immunodiagnostics Market Competitive Landscape
Collaborations and acquisitions are projected to be popular strategies for immunodiagnostics companies looking to expand their business scope going forward. Investing in the development of novel immunodiagnostics products and instruments is also forecasted to create new opportunities for market players in the future. Investing in developing countries is projected to offer lucrative opportunities for immunodiagnostics providers in the long run.
Immunodiagnostics Market Top Player’s Company Profiles
- Abbott (US)
- Roche Diagnostics (Switzerland)
- DiaSorin (Italy)
- Danaher Corporation (US)
- QIAGEN (Netherlands)
- bioMérieux (France)
- Thermo Fisher Scientific (US)
- Quest Diagnostics (US)
- Siemens Healthineers AG (Germany)
- Bio-Rad Laboratories, Inc. (US)
- Sysmex Corporation (Japan)
- PerkinElmer, Inc. (US)
- Agilent Technologies, Inc. (US)
- Mindray Medical International Limited (China)
- Grifols, S.A. (Spain)
- Becton, Dickinson and Company (BD) (US)
- Abcam plc (UK)
- Merck KGaA (Germany)
- Enzo Biochem, Inc. (US)
- Bio-Techne Corporation (US)
- Meso Scale Diagnostics, LLC. (US)
- GenScript Biotech Corporation (China)
- Myriad Genetics, Inc. (US)
Immunodiagnostics Market Recent Developments
- In December 2023, American Laboratory Products Company Ltd. (ALPCO), a leading provider of diagnostic solutions announced the commercial launch of its Calprotectin Immunoturbidimetric Assay. The product has a FDA 510(k) clearance and this launched helped ALPCO expand its portfolio of Gastrointestinal (GI) diagnostic solutions.
- In August 2023, Gold Colloid Co., a new company focused on the development and commercialization of rapid immunodiagnostic lateral flow tests was launched. The company is expected to innovate in the space of immunodiagnostics materials and services going forward.
- In May 2021, PerkinElmer, a leading provider of diagnostic technologies and solutions signed an agreement to acquire Immunodiagnostic Systems (IDS) for USD 155 million in cash. Through this move PerkinElmer expanded its presence in the global immunodiagnostics industry.
Immunodiagnostics Key Market Trends
- Development of Multiplex Tests: Immunodiagnostics companies can invest in the development of multiplex tests that are capable of detecting several biomarkers to save time and resources. Growing demand for comprehensive diagnostics and screening in clinical settings is also forecasted to make this a prominent immunodiagnostics market trend for companies across the study period and beyond.
- Demand for Home-based Testing: Rapidly surging demand for home care and telehealth practices is projected to bolster the adoption of home-based testing in the future. Immunodiagnostics companies can target this trend to maximize their business scope and improve revenue generation by providing home-based immunodiagnostics tests in the long tun.
Immunodiagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing incidence of chronic and infectious diseases and advancements in diagnostics technologies are forecasted to be key drivers for immunodiagnostics market going forward. However, inconsistent regulatory standards and a shortage of skilled professionals are expected to impede immunodiagnostics demand outlook in the future. North America is estimated to account for the largest share of the global immunodiagnostics market owing to the presence of a strong healthcare infrastructure. The development of multiplex tests and home-based tests is also slated to create new opportunities for immunodiagnostics companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 23.2 billion |
| Market size value in 2031 | USD 33.6 billion |
| Growth Rate | 4.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Immunodiagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Immunodiagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Immunodiagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Immunodiagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Immunodiagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Immunodiagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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