New York, NY -- (SBWire) -- 04/21/2021 --The Immunodiagnostic Reagent Market size is forecast to grow from USD 6.16 billion in 2019 to USD 16.78 billion by 2027, register a CAGR of 13.2% through the forecast period. The rise in the incidence of diseases such as HIV, respiratory, cancer, and others is likely to drive the growth of the global immunodiagnostic reagent market. Moreover, growing geriatric population and the surge in need to develop therapeutic treatments to treat chronic diseases is boosting the R&D infrastructure. The rise in R&D investments globally along with increase in awareness and availability of different immunodiagnostics reagents are expected to drive the global immunodiagnostic reagent market during the forecast period. However high costs associated with immunodiagnostics reagents is expected to hamper the market growth to a certain extent. Conversely, untapped potential of emerging economies is anticipated to provide lucrative growth opportunities to the players in the market in the forecast period.
Different biomolecules such as proteins act as immunodiagnostic reagent agents to execute immunodiagnostic reactions. After clinical laboratories and hospitals, the pharmaceutical and biotechnology industries are the traditional strongholds of the immunodiagnostic reagent market. Immunodiagnostic Reagent kits are widely used by druggists to monitor drug delivery and the effect of the drugs administered in the system. Key strategic initiatives such as product launches by companies and approval for new immunodiagnostic reagent products and services is also expected to substantially foster the growth rate of the global market. For instance, OPKO Health Inc. had an approval from the U.S. Food and Drug Administration in 2017 to conduct a full prostate-specific antigen test with immunoassay analyzer. Rising adoption of immunoassay analyzers will facilitate cost-effectiveness and reduce the barriers to conduct efficient diagnostic procedures. This is one of the major drivers of the immunodiagnostic reagent market.
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Further key findings from the report suggest
Trainings that employ immunodiagnostics reagents are routinely provided in academic and research centers and medical colleges in the form of internships. The increased use of these immunodiagnostics consumables has surged the demand for these products worldwide, thereby boosting the immunodiagnostic reagents market.
ELISA reagent market in Europe occupied a significant share in 2018. The Europe market for ELISA reagents is projected to grow at a CAGR of 14.2% during the forecast period.
Asia Pacific Market is expected to grow at the highest CAGR of 16.8% during the forecast period. Increasing disposable incomes and healthcare facilities in developing nations such as China, and India are likely to propel the market growth in the analysis period.
By application, the cardiac biomarker segment is growing gradually and is expected to reach USD 2.67 billion by 2026. This can be attributed to the increase in dire need of. novel therapeutic treatments for cardiovascular disease treatment.
In 2018, the hospitals segment in North America witnessed significant growth as the tests and the reagents are more prominently used in North America, more prominently in the U.S.
Key participants in the immunodiagnostics reagents market include – Abbott Laboratories, Immunodiagnostic Reagent Systems Holdings Plc (IDS), DiaSorin S.p.A., Johnson & Johnson, F. Hoffmann-La Roche Ltd, Siemens AG, Sysmex Corporation, Danaher Corporation, Thermo Fisher Scientific Inc., OPKO Health Inc., Bio-Rad Laboratories, Inc., and Arkray, Inc.
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For the purpose of this report, Reports and Data has segmented the global immunodiagnostic reagent market on the basis of by reagent, by application, by end user and region:
By Reagent (Revenue, USD Million; 2016–2027)
Enzyme-linked Immunosorbent Assay (ELISA) Reagents and Kits
Rapid Test Reagents and Kits
Enzyme-linked Immunospot ELISPOT Reagents and Kits
Western Blot Reagents and Kits
Other Reagents & Kits
By Application (Revenue, USD Million; 2016–2027)
Infectious Diseases
Hepatitis & retrovirus
Oncology & endocrinology
Bone & mineral
Autoimmunity
Cardiac biomarker
Other Applications
By End User (Revenue, USD Million; 2016–2027)
Clinical Laboratories
Hospitals
Academic & Research Centers
Pharmaceutical & Biotechnology Industry
Other End Users
Regional Outlook (Revenue in USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016 – 2026
Chapter 3. Indicative Metrics
Chapter 4. Immunodiagnostic Reagent Segmentation & Impact Analysis
4.1. Immunodiagnostic Reagent Segmentation Analysis
4.2. Pharmaceutical Industry Outlook
…………
Chapter 9. Competitive Landscape
9.1. Market Revenue Share by Manufacturers
9.2. Mergers & Acquisitions
9.3. Market positioning
9.4. Strategy Benchmarking
9.5. Vendor Landscape
Chapter 10. Company Profiles
10.1. Abbott Laboratories
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Insights
10.1.4. Strategic Initiatives
10.2. Immunodiagnostic Reagent Systems Holdings Plc (IDS)
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Insights
10.2.4. Strategic Initiatives
10.3. DiaSorin S.p.A.
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Insights
10.3.4. Strategic Initiatives
10.4. Johnson & Johnson
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Insights
10.4.4. Strategic Initiatives
10.5. F. Hoffmann-La Roche Ltd
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Immunodiagnostic Reagent market and its competitive landscape.
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Immunodiagnostic Reagent Market Trends, Growth Opportunities, Size, Demand and Industry Overview, Forecast by 2027
Rise in the adoption of immunoassay analyzers, increase in availability of reagents across different research settings and growth in R&D investments are the factors driving the growth of the immunodiagnostic reagent market.