Fluorescent Immunoassay Market Size (2022-2030) Share, Industry Trends, Growth, Challenges and Forecast: Growth Plus Reports
Growth Plus Reports
Updated 6 min read
Growth Plus Reports
Newark, New Castle - 19702, USA, March 15, 2023 (GLOBE NEWSWIRE) -- According to the deep-dive market assessment study by Growth Plus Reports, the global fluorescent immunoassay market was valued at US$ 2.5 billion in 2021 and is expected to register a revenue CAGR of 5.4% to reach US$ 4.01 billion by 2030.
Fluorescent Immunoassay Market Scope
Report Attribute
Details
Market size value in 2021
US$ 2.5 billion
Revenue forecast in 2030
US$ 4.01 billion
Growth Rate
CAGR of 5.4% from 2022 to 2030
Base year for estimation
2021
Forecast period
2022-2030
Historical Year
2020
Segments covered
Product type, Application, End-user, and Region
Regional scope
North America, Europe, Asia Pacific, and the Rest of the World (ROW)
Clinical diagnostics, environmental monitoring, and pharmaceutical analysis increasingly depend on immunoassay. Fluorescent immunoassay is extensively utilized in research facilities, labs, and hospitals to identify various diseases and develop efficient treatment plans for people and animals. A variety of reasons drive the global fluorescent immunoassay market. The increase in chronic diseases, diabetic disorders, and cardiovascular diseases is one of the key market drivers. In addition, the rising prevalence of illnesses like malaria, COVID-19, dengue, hepatitis, HIV, and other infections is also driving the market for immunoassay products. The fluorescent immunoassay is affordable, offers quick findings with detection limits, and has higher efficiency. A widespread immunoassay technique for identifying infectious diseases is called ELISA. It measures antigens, antibodies, and proteins in samples. Recently, the emphasis has switched from developing signal production techniques to creating several instruments that offer convenience and great performance. Many applications, including pharmaceutical analysis, food safety, medical diagnostics, and basic science research, use immunoassay extensively. The industry is anticipated to expand in developing regions like the Asia-Pacific significantly.
The global fluorescent immunoassay market has been analyzed from four perspectives: product type, application, end user, and region.
Excerpts from ‘By Product Type Segmentation’
Based on product type, the global fluorescent immunoassay market is segmented into:
ELISA
Rapid Lateral Flow Immunoassay
Others
A rapid lateral flow immunoassay is utilized to find the target analyte without using specialized equipment. The rapid test technique is useful in various situations, including dengue and infections brought on by Legionella, Salmonella, Campylobacter, Zika, and Listeria. Furthermore, monoclonal antibodies are employed to precisely identify the target analyte for Immunoglobulin G (IgG), Immunoglobulin M (IgM), Immunoglobulin A (IgA), and Immunoglobulin (IgD). Thus, this segment is expected to grow in the global fluorescent immunoassay market during the forecast period. The ELISA segment currently dominates the global fluorescent immunoassay market.
Excerpts from ‘By Application Segmentation’
The global fluorescent immunoassay market is segmented based on application into:
Cardiovascular Disease
Oncology
Infectious Diseases
Others
On a global scale, the fluorescent immunoassay market is dominated by the infectious diseases segment in terms of revenue. In infectious diseases, fluorescence immunoassay is used to identify the presence of antibodies against a specific pathogen. This can help locate infections and track their growth. This is due to the increasing prevalence of infectious diseases like HIV, TB, and hepatitis A & B. Throughout the course of the forecast period, it is also anticipated that an increase in R&D projects by major companies for the development of novel immunoassays for the detection of infectious diseases will fuel the expansion. The rising incidence of cancer cases worldwide is also one of the key drivers of the global fluorescent immunoassay market growth throughout the forecast period. Around 10 million deaths globally will be caused by cancer in 2020, according to an estimate from the World Health Organization (WHO). Consequently, an increase in cancer incidence is expected to accelerate the adoption of immunoassays.
Excerpts from ‘By Region Segmentation’
Based on region, the global fluorescent immunoassay market has been segmented into:
North America
Europe
Asia Pacific
Rest of the World
Due to the rising penetration of major players, the Asia Pacific region is anticipated to experience significant expansion in the global fluorescent immunoassay market during the forecast period. One of the reasons propelling the market in the area is the expanding usage of cutting-edge laboratory techniques and processes for quicker investigation and diagnosis of infectious and chronic illnesses. In addition, the development of molecular kits and the rise in demand for diagnostic reagents are major market drivers.
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