Automated Immunoassays Market Set to Record Exponential Growth by 2024

[Pavan Ishi]

Automated immunoassay is a method to detect the presence of a specific element in the human body such as antigen, antibody, or pathogen. The automated immunoassay works on the principle of antigen and antibody specificity reaction. It has been in use in the field of clinical chemistry from a long time. The pharmaceutical & biotechnology and food & beverage industries also use immunoassays for research and quality control. Automated immunoassay has enhanced the laboratory workflow by adding advantages such as auto restart functionality, quality control scheduling, reduced hands on operation, fast & more accurate results, and more reliable data. 

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Based on application, the global automated immunoassays market can be segmented into infectious diseases, oncology, endocrinology, calcium metabolism, and others. The infectious diseases segment is projected to grow at a rapid pace during the forecast period due to high prevalence of infectious diseases such as dengue, Ebola, and typhoid across the globe. Moreover, demand for accurate results within short time is rising, which can only be possible through automated immunoassay. In terms of end-user, the global automated immunoassays market can be classified into hospitals, diagnostic laboratories, and others. The hospitals segment is anticipated to expand at a high CAGR during the forecast period, as large number of patients prefer diagnosis of diseases in hospitals due to the availability of various treatments and diagnostics under one roof. 

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Automated immunoassays are revolutionary treatment options for a number of diseases such as cardiovascular, UTI infection, endocrinology. These provide accurate diagnosis of diseases in short time. High prevalence and incidence rates of chronic and infectious diseases are expected to drive the global automated immunoassays market. Moreover, high incidence rate of endocrinology diseases such as thyroid dysfunction and diabetes mellitus propel the automated immunoassays market. According to the International Diabetes Federation (IDF), 415 million people were affected with diabetes worldwide in 2015. However, development of alternative diagnostic methods such as molecular diagnostics is anticipated to hamper the growth of the automated immunoassays market. 

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In terms of region, the global automated immunoassays market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017. The region is projected to account for significant automated immunoassays market share during the forecast period due to increase in investment in the development of new automated immunoassays for diagnosis of infectious diseases. According to the Centers for Disease Control and Prevention (CDC), 61 cases of Zika virus were reported in the U.S. in 2015, which rose to 5,102 in 2016. Rise in prevalence of orthopedic disorders and cardiovascular diseases in countries such as India and China and availability of advanced testing kits are likely to propel the market in Asia Pacific during the forecast period. Rapid rise in health care infrastructure and high prevalence of variable diseases such as Zika propel the market in Middle East & Africa. 

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Key players operating in the global automated immunoassays market are Siemens Healthineers, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Bayer AG, Bio-Rad laboratories, Inc., and among others.

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