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Immunoassay Market (Infectious Diseases, Cancer, Endocrinology, Cardiology) worth $19.1 Billion by 2018

The "Immunoassay Market [Technology (Enzyme, Fluorescent, Chemiluminescence, Radioimmunoassay), Analyzers & Reagents, Applications (Infectious Diseases, Cancer, Endocrinology, Cardiology), End Users (Hospitals, Laboratory, Academics)] - Global Forecast to 2018provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global immunoassays market along with the estimates and forecasts of the revenue and share analysis.

The global market is valued at about $13.0 billion in 2013 and is expected to grow at a healthy CAGR of 8.1% to reach $19.1 billion by 2018. This research report categorizes the global market on the basis of technology, applications, products (analyzers and reagents), and end-users. On the basis of technology, the enzyme immunoassays segment accounted for the largest share of 35.2% of the global market in 2012.

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The global immunoassays market is consolidated, with the top seven market playe-Roche Diagnostics, Siemens Healthcare Diagnostics, Abbott Diagnostics, Danaher Corporation, Ortho Clinical Diagnostics, bioMérieux, and DiaSorin S.P.A-accounting for market shares of more than 85%. Roche is the market leader holding around one-fifth of the overall market share. The company offers a broad product portfolio with more than 100 assays in various disease categories, owing to which it enjoys a high level of customer loyalty. The company’s cobas analyzer series of products dominates the global immunoassays market. Roche also has easy access to all the regions worldwide as it has a well-established supply chain.

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Agreements and partnerships along with new product launches are the two most-preferred strategies followed by the key players. The industry giants adopted these strategies to enhance their product offerings, to increase their market shares, to meet customer needs, and to consolidate their market presence. In addition, companies such as Abbott focus on receiving various regional approvals to gain a competitive edge. Companies like Danaher Corporation, QIAGEN N.V., and Thermo Fisher Scientific, Inc. adopted mergers and acquisitions as their dominant strategy to keep pace with the industry.

Major strategic developments take place in the field of infectious disease testing by immunoassay running on automated platforms, which exhibits high-growth potential in the near future. To sustain their market positions, many of the dominant market players like Roche Diagnostics, Siemens Healthcare, Sysmex Corporation, and Abbott Laboratories have introduced several tests for infectious disease diagnosis due to the high-growth rate, large market size nature of this segment.

The usage of lateral flow immunoassay-based point-of-care (POC) tests has been on the rise for the diagnosis of various disease conditions like oncology, cardiology, diabetes, and pregnancy. This is due to their easy accessibility and availability, which drives the immunoassays market. In addition, biomarkers are also witnessing emerging trends in the market that uncover new growth opportunities for immunoassay companies. For example, in May 2013, QIAGEN N.V. signed a license agreement with Columbia University in New York on FGFR-TACC fusion genes, under which QIAGEN developed this biomarker to identify  glioblastoma and other cancers. The company also entered into an exclusive licensing option with BC Cancer Agency, Canada for the production of the EZH2 Y641 mutation biomarker for several types of cancers.

The demand for sophisticated and non-invasive diagnostic techniques and increasing acceptance of personalized medicines are the emerging fields attracting companies to the immunoassays market.

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