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Global immunoprotein diagnostic testing market was pegged at $10.13 billion in 2019, and projected to reach $18.38 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027. The growth of the global immunoprotein diagnostic testing market is propelled by increase in incidence & prevalence of infectious and chronic diseases, rise in geriatric population, and growth in demand for early diagnostic services. In addition, technological advancements in immunodiagnostic instruments and introduction of novel automated systems are all set to augment the growth of the immunoprotein diagnostic testing market during the forecast period.
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Key Findings Of The Study
– By type, the immunoglobulin diagnostic tests segment dominated the market in 2019, accounting for 25.48% of the share, and is projected to grow at a CAGR of 7.8%.
– By application, the infectious disease testing segment accounted for the highest share of 22.93% in 2019.
– Enzyme-linked immunosorbent assay technology dominated the market in 2019 and is expected to grow with a CAGR of 65.27% during the analysis period.
– North America accounted for the highest share of 40.56% in 2019 and is projected to grow at a CAGR of 6.4%.
– U.S. was the major shareholder in the North American immunoprotein diagnostic testing market, accounting for 87.23% share in 2019.
– Asia-Pacific is expected to show the highest growth rate during the analysis period, registering a CAGR of 7.7%.
– China is expected to grow at the highest CAGR of 10.6% in the Asia-Pacific immunoprotein diagnostic testing market.
Major determinants of the market
Rise in incidence of chronic and infectious diseases and advancements in technologies have boosted the growth of the global immunoprotein diagnostic testing market. However, stringent regulations hamper the market. On the contrary, potential in the emerging economies and development of condition-specific assays and tests are expected to create opportunities for the market players in the future.
COVID-19 scenario:
Due to lockdown across the globe, there is significant gap in supply and demand. Moreover, the supply chain has been disrupted.However, the demand for immunoprotein diagnostic testing is increasing as it could be used to diagnose cardiovascular and infectious diseases.
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North America held the lion’s share
By region, the market across North America held the largest share in 2019, accounting for around two-fifths of the market, owing to increase in demand for quick diagnostic services to detect chronic diseases, ongoing trend of preventive healthcare, and rise in the number of drug abuse and allergy cases. However, the global immunoprotein diagnostic testing market across Asia-Pacific is projected to portray the highest CAGR of 7.7% during the forecast period, due to increase in the number of patients suffering from chronic diseases and improvement in healthcare facilities in the region.
Major market players:
The key players profiled in the report include Abbott Laboratories, Abcam PLC, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Enzo Life Sciences, Ortho Clinical Diagnostics, Roche Diagnostics, Siemens Healthcare, and Thermo Fisher Scientific.
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