Market growth influenced due to following factors-

Increasing incidence of chronic and infectious diseases.
Technological advancements in immunoassay instruments and introduction of novel automated systems.
Growth in the biotechnology and biopharmaceutical industries.

Global market size-

According to market research report Immunoassay Market is expected to reach $39.0 billion by 2026, at a CAGR of 6.6% during the forecast period.

Leading Players-

Key players in the immunoassay market include Roche (Switzerland), Abbott Laboratories (US), Siemens (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), bioMérieux (France), Ortho Clinical Diagnostics (US), DiaSorin (Italy), QIAGEN (Netherlands), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Merck (Germany), Bio-Rad Laboratories (US), Agilent Technologies (US), PerkinElmer (US), Quidel Corporation (US), Bio-Techne Corporation (US), and Mindray (China).

Top Market Segments-

Based on technology, the market is segmented into ELISA, rapid tests, western blotting, radioimmunoassays, ELISPOT and other technologies. ELISA accounted for the largest share of the market in 2020. The large share of this segment can be attributed the massive consumption of ELISA in the diagnosis of cancer, infectious diseases, and other chronic complications.

Based on application, the market is segmented into infectious diseases, endocrinology, cardiology, autoimmune disorders, allergy diagnostics, oncology, bone & mineral disorders, toxicology, blood screening, newborn screening and other applications. Infectious diseases account for the largest share of the market, owing to the surging prevalence of infectious diseases and the rising use of immunoassays in diagnostics and management.

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Geographic Overview -

The immunoassay market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America was the largest regional market for market in 2020. The large share of the North American market can be attributed to the increasing per capita healthcare expenditure and technologically advanced healthcare infrastructure which makes the regional market well established.