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Immunodiagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, By Clinical Indication, By End User, and Geography
The immunodiagnostic market is expected to grow from US$ 17,948. 62 million in 2021 to US$ 29,526. 72 million by 2028; it is estimated to grow at a CAGR of 7. 4% from 2022 to 2028. The increasing prevalence of infectious diseases and the growing use of point-of-care immunodiagnostics are the factors fueling the global immunodiagnostic market growth.
New York, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Immunodiagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, By Clinical Indication, By End User, and Geography" - https://www.reportlinker.com/p06362979/?utm_source=GNW
However, factors such as inadequate treatment reimbursement scenarios are restraining the market growth.
Immunodiagnostics is a diagnostic methodology that primarily uses antigen-antibody reaction as its primary means of detection. Antibodies, specific for the desired antigen, can be conjugated with a radiolabel, fluorescent label, or color-forming enzyme and are used as a probe to detect it. The speed, accuracy, and simplicity of such tests have led to the development of rapid techniques for the diagnosis of diseases, microbes
Point-of-care testing (POCT) has become critical to patient-centric healthcare due to the need for rapid diagnostic results to determine accurate and faster treatment.A shift from centralized point-of-care testing to decentralized testing for chronic and infectious patients has resulted in convenient patient access to these diagnostics.
The current approach to diagnosis and monitoring chronic conditions or detecting pathogens such as bacteria and viruses rely on immunoassay testing.
Advanced point-of-care devices enable rapid screening of up to three components from a single sample.Also, the point-of-care diagnostics (POCD) inclined toward mobile healthcare (mH) smart devices could revolutionize personalized healthcare monitoring and management, paving the way for next-generation POCTs.
The infectious disease management can be significantly improved by POCTs, especially in developing countries where access to timely medical care is challenging and healthcare infrastructure is outdated and sparse. Additionally, the technologically developed diagnostic kits leading to fewer manual errors propel the immunodiagnostics market.
Innovative immunodiagnostic products are being developed by several market players.For instance, Thermo Fisher Scientific has developed immunodiagnostic products such as enzyme-linked immunoassay (ELISA) reagents and buffers, antibodies and detection probes, linking mechanisms, blocking buffers and detergents, detection substrates, and capture surfaces, along with services such as bioconjugation and detection.
Further, on September 1, 2020, Roche launched SARS-CoV-2 Rapid Antigen Test. The Test is used in POC settings for symptomatic and asymptomatic people to help healthcare professionals identify the infection within 15 minutes.
The COVID-19 pandemic boosted the use of immunodiagnostics. According to the American Society for Clinical Pathology, in March 2020, the Cepheid Xpert Xpress SARS-CoV-2 test became the first POC COVID-19 detection assay to receive Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA).
Moreover, in oncology, an immunodiagnostic test can confirm the presence of a solid tumor by detecting known tumor-associated antigens or antibodies. Thus, the rising use of immunodiagnostics in cancer treatment is driving the immunodiagnostics market.
Product-Based Insights
Based on product, the immunodiagnostics market is segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIA), radioimmunoassays (RIA), and others. The enzyme-linked immunosorbent assays (ELISA) segment held the largest market share of US$ 9,980.87 million in 2021.On the other hand, chemiluminescence immunoassays (CLIA) is expected to witness the highest growth during the forecast period.
Clinical Indication-Based Insights
Based on clinical indication, the immunodiagnostics market is segmented into infectious diseases, hepatitis+HIV, endocrinology, gastrointestinal, metabolics, and others. The infectious diseases segment accounted for the largest share of the market in 2021, and it is expected to register the highest CAGR of 8.0% during the forecast period.
End User-Based Insights
Based on end user, the immunodiagnostics market is segmented into hospitals, clinics, diagnostics laboratories, academic and research institutes, and others.The hospitals segment held the largest share of the market in 2021.
However, the clinics segment accounts for a CAGR of 8.5% during the forecast period.
A few of the major primary and secondary sources referred to while preparing the report on the immunodiagnostics market are the World Health Organization (WHO), the US Census Bureau, and the US National Library of Medicine, among others.
Read the full report: https://www.reportlinker.com/p06362979/?utm_source=GNW
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