R&D and M&A Activities Drive ELISA Market

The global ELISA market is projected to expand at a CAGR of 5.1 percent during 2018–2025 from a value of USD 1664.2 million in 2017, according to Coherent Market Insights. Launch of novel assays and increasing demand for cost efficient tools due to increasing incidence of chronic infectious diseases and cancer are major factors driving the market growth. Also, technological advancements in ELISA test kits are expected to foster growth of the global market.

Extensive research and development in the field of immunoassay and diagnostics are leading to increasing applications and novel approaches for incorporation of ELISA in various medical fields. For instance, a recent test developed by Center for Infection and Immunity at University of Columbia in March 2018, extends a window for accurate detection of Zika infection, which is complex with molecular diagnostics procedures. The new ZIKV-NS2B-concat ELISA is a faster, less expensive blood test, and clinical tool for accurate detection of Zika from weeks to months after onset of infection facilitating a powerful tool for the clinicians to make quick decisions for their patients.

The market players are focused toward expansion of their product portfolio and geographic reach by adoption of inorganic strategies such as mergers and acquisitions to maintain their positions in the market. For instance, in March 2017, Thermo Fisher Scientific acquired Core Informatics and added it to the analytical instruments segment to strengthen its existing informatics solutions and bio production offerings. Furthermore, the company players are also focusing on research and development for introducing novel ELISA assays and test kits in to the market to stand out and retain their positions in the market.