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Research report published by Proficient Market Research “Immunoassay Market, By Type (Enzyme Immunoassay (EIA), Radioimmunoassay (RIA), Fluoroimmunoassay (FIA), Chemiluminescent Immunoassay (CLIA) and Counting Immunoassay (CIA)); By Application (Infectious Diseases, Oncology, Blood Screening, Cardiology and Others) Market – Growth, Future Prospects, Post COVID-19 Scenario 2020 – 2028”,states that the global Immunoassay is expected to grow at a CAGR of 6.8% during the forecast period from 2021 to 2028.
Rising prevalence of various chronic diseases and need for their diagnosis as early as possible is prevailing the requirement of immunoassays test. Increasing instances of cancer is elevating the need for an individual to test for preventing further damage in the body. Also, Immunoassays are being highly used to detect COVID-19 as well as other infectious diseases which are on the rise and hence in order to control the spread of virus these tests along with many other are carried out.
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Thereby these factors are expected to increase the growth as well as the disposable income of the market globally.
Several applications of immunoassay include infectious diseases, oncology, blood screening, cardiology, etc. Among the applications, infectious diseases held the largest market share in past years owing to prevailing covid-19 globally and other infectious diseases which remain undiagnosed, eventually growing the demand of immunoassays.
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Some of the prominent players of the market include Danaher Corp., Thermo Fisher Scientific company, Abbott Laboratories, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, Quidel Corporation., DiaSorin S.p.A, bioMérieux SA, Bio-Rad Laboratories, Inc. and Ortho-Clinical Diagnostics, Inc.
Leading companies operating in the immunoassay manufacturing are working towards improving the quality of tests so that the tests can be carried out in minimum time.
Trends and Future Outlook:
Creative Diagnostics has developed new immunoassay kit that is designed specifically to detect corona virus as well as the antibodies that can fight against COVID-19.
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Based on type, the immunoassay market is segmented into the following:
Enzyme Immunoassay (EIA)
Chemiluminescent Immunoassay (CLIA)
Counting Immunoassay (CIA)
Enzyme Immunoassay (EIA) segment led the overall immunoassay market in terms of market value
In 2020, the enzyme immunoassay segment led the overall immunoassay market in terms of market value. As immunoassay process requires an antibody connected to an enzyme, it helps in efficient viewing and quantifying the antigens, therefore attaching to the antigen making the process undemanding.
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Based on application, the immunoassay market is segmented into following:
Infectious Diseases segment led the overall immunoassay market in terms of market value
In 2020, the infectious diseases segment led the overall immunoassay market in terms of market value. Due to increasing number of unidentifiable diseases, outbreak of COVID-19 and various other such outbreaks are propelling the need for diagnosis and in depth study of the disease thereby, accelerating the growth of immunoassay market.
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North America held the largest share in the immunoassay market
In 2020, North America accounted for the largest share in the immunoassay market due to presence of well-established healthcare companies, increased number of infectious diseases, increasing spending of the government towards healthcare and research and increased adoption of people towards various tests to keep themselves away from diseases.
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