Asia-Pacific Immunodiagnostics Market Report 2023: Increasing Use of Point-of-Care Immunodiagnostics Bolsters Growth
Asia-Pacific Immunodiagnostics Market
Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "Asia-Pacific Immunodiagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis" report has been added to ResearchAndMarkets.com's offering.
The APAC immunodiagnostics market is expected to grow from US$ 2,231.31 million in 2022 to US$ 3,587.50 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028.
Increasing Prevalence of Infectious Diseases Supports APAC Immunodiagnostics Market Growth
The diagnosis and management of several ever-growing infectious diseases caused by infectious agents such as viruses, fungi, bacteria, parasites, or their toxic products are increasing the number of prescriptions for immunodiagnostic tests - complement fixation, precipitation tests, agglutination tests, line blot assays, western blot assays, enzyme immunoassays (EIA), and immunofluorescence tests. For instance, according to the World Health Organization (WHO), approximately 58 million people worldwide suffer from chronic hepatitis C infection, with 1.5 million new conditions occurring every year.
Approximately 3.2 million adolescents and children suffer from this infection. Diagnostics play a vital role in determining the direction of any medical treatment. Immunodiagnostics help diagnose diseases that severely impact the immune system. All these factors indicate that the rising prevalence of infectious diseases leads to the surging demand for immunodiagnostic products, which is supporting the APAC immunodiagnostics market .
APAC Immunodiagnostics Market Overview
Asia Pacific (APAC) is the fastest-growing market for immunodiagnostics. The APAC immunodiagnostic market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. The increasing prevalence of chronic illness in APAC is boosting the demand for diagnostic tests that provide essential details of medical care with detection, diagnostics, and therapy related to the disease. During 2010-2020, APAC witnessed a 39% increase in the number of immunology trials, a significant rise as compared to other regions. In 2020, the maximum number of immunology trials occurred in China, followed by Japan and India.
According to Statista, a large chunk of the Chinese population was suffering from chronic diseases in 2020, while in 2019, chronic conditions caused 88.5% of mortalities in the country. The country's geriatric population and the prevalence of chronic illnesses are increasing.
Approximately 80% of deaths among the people aged 60 years in the country are caused due to chronic NCDs, of which the most severe are ischemic heart disease, stroke, chronic obstructive pulmonary disease (COPD), and type II diabetes. The incidence of chronic diseases such as cancer, diabetes, cardiovascular diseases (CVDs), and tuberculosis is increasing in the country due to rapid urbanization, which is expected to surge the demand for immunodiagnostic tests.
APAC Immunodiagnostic Market Segmentation
The APAC immunodiagnostic market is segmented into product, clinical indication, end user, and country.
Based on product, the APAC immunodiagnostic market is segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIA), radioimmunoassay (RIA), and others. The enzyme-linked immunosorbent assays (ELISA) segment registered the largest market share in 2022.
Based on clinical indication, the APAC immunodiagnostic market is segmented into infectious diseases, hepatitis+HIV, endocrinology, gastrointestinal, metabolics, and others. The infectious diseases segment registered the largest market share in 2022.
Based on end user, the APAC immunodiagnostic market is segmented into hospitals, clinics, diagnostics laboratories, academic and research institutes, and others. The hospital segment registered the largest market share in 2022.
Based on country, the APAC immunodiagnostic market is segmented into China, Japan, India, Australia, South Korea, and the Rest of APAC. China dominated the market in 2022.
Increasing Prevalence of Infectious Diseases
Increasing Use of Point-of-Care Immunodiagnostics
Inadequate Reimbursement Scenario
Rising Focus on R&D Investment and Expansion by Key Players
Technological Advancements in Immunodiagnostics
No. of Pages
2022 - 2028
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2028
Compound Annual Growth Rate
A selection of companies mentioned in this report includes
F. Hoffmann-La Roche Ltd
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Siemens Healthineers AG
Svar Life Science AB
Thermo Fisher Scientific Inc
For more information about this report visit https://www.researchandmarkets.com/r/9pcq78
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