Immunodiagnostics market to reach USD 39.36 billion by 2030

According to a recent report by Growth Plus Reports, the global immunodiagnostics market was valued at US$ 20.70 billion in 2021 and is expected to surpass US$ 39.36 billion by 2030, at a revenue CAGR of 7.40%. The report analyzes top winning strategies, drivers & opportunities, competitive scenarios, wavering market trends, market size, statistics & estimations, and major investment pockets.

Key takeaways:

• The rising prevalence of chronic diseases will provide plenty of growth opportunities for the immunodiagnostics market.
• Asia Pacific will dominate the global immunodiagnostics market.
• The technological advancements will fuel the growth of the immunodiagnostics market.

Market drivers
The increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, gastrointestinal and infectious diseases such as HIV, hepatitis B, etc., is the primary factor driving the revenue growth of the global market. Furthermore, technological advancements and increasing public awareness will support market revenue growth.

Market segmentation
Growth Plus Reports has analyzed the global immunodiagnostics market from three perspectives: Application, Technology, and Region.

Application Segmentation: Based on the application, the global immunodiagnostics market is segmented into oncology, endocrinology, hepatitis, retrovirus testing, GI stool testing, infectious disease testing, and others. The oncology segment dominates the market with the largest revenue share because it better explains the immune systems response when cancer develops or progresses.

Technology Segmentation: Based on the technology, the global immunodiagnostics market is segmented into fluorescent immunoassay, chemiluminescence immunoassay, radioimmunoassay, Enzyme-linked immunosorbent assay, and others. The immunofluorescence assays (IFAs) segment dominates the market with the largest revenue share because these assays are commonly used to detect antibodies to infectious agents.

Regional growth dynamics
Based on the region, the global immunodiagnostics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific dominates the global medical bionic implants market due to the rising prevalence of chronic diseases, increased approvals of new products, reimbursement policies, and the increasing geriatric population.

The increased prevalence of long-term diseases, including cancer, gastrointestinal problems, infectious diseases, disease-specific immunodiagnostic tests, and advancements in immunodiagnostic technology will all contribute to considerable revenue growth in North America.

The increasing elderly population and the rise in advanced diagnostic systems due to technical advancements will be the main drivers of growth in the European region.

Competitive landscape
The major players operating in the global immunodiagnostics market are:

• Johnson & Johnson Services, Inc.
• F. Hoffman-La Roche Ltd.
• Diasorin S.P.A.
• Danaher Corporation
• Sysmex Corporation
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• Siemens AG
• Immunodiagnostics Systems Holdings Plc
• Arkray, Inc.
• bioMerieux SA
• Abbott Laboratories Inc.

The immunodiagnostics market is moderately competitive with several key players. Key players operating in the market are implementing competitive sustainability tactics such as product development and regional presence growth. Major firms are aggressively acquiring other companies to strengthen their global market positions.

Recent developments:

• To improve cutting-edge platform technologies for the development of immunodiagnostics for HIV and the prevention of malaria, VirBiotechnology expanded its collaboration with the William & Malinda Gates foundation in January 2022.
• The United States Food and Drug Administration granted Pfizer Inc. clearance for CIBINQO (abrocitinib), an oral Janus kinase 1 inhibitor, in January 2022.

Growth Plus Reports