Increase in incidence of cancer, cardiovascular diseases and infectionscoupled with rise in healthcare expenditure and improvement in healthcare insurance scenario would drive the growth of the global immunoprotein diagnostic testing industry.
As per the report, the 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.
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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.
The global immunoprotein diagnostic testing market is segmented based on type, application, technology, and region. Based on technology, the immunoprotein diagnostic testing market is classified into radioimmunoassay, immunoturbidity assay, immunoprotein electrophoresis, enzyme-linked immunosorbent assay, and others. The enzyme-based immunosorbent assay segment held the largest share of 65.27% in 2019, owing to wide application of enzyme-based immunoassay.
Rise in prevalence of cancer & cardiovascular diseases drive the growth of the immunoprotein diagnostic testing market. In addition, rise in healthcare expenditure and improvement in healthcare insurance scenario are expected to fuel the market growth during the study period. However, dearth of skilled healthcare professionals and lack of awareness among the population hamper the market growth.
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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Key Market Players
- Abbott Laboratories
- Abcam plc.
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Diasorin S.P.A
- Enzo Biochem, Inc.
- Hoffmann-La Roche AG (Roche Diagnostics)
- Ortho Clinical Diagnostics
- Siemens AG
- Thermo Fisher Scientific Inc.
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