Top Players Shaping the Immunoassay Market: An In-Depth Analysis

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The global immunoassay market is projected to reach USD 49.6 billion by 2027 from USD 40.2 billion in 2022, at a CAGR of 4.3% during the forecast period. The immunoassay market is driven by the increasing incidence of chronic and infectious diseases, advancements in systems and technologies, and supportive government policies.

The top players in this market are Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland) and Siemens Healthineers AG (Germany). These players lead the market because of their extensive product portfolios. These players have also invested in organic strategies such as product launches and regulatory approvals and inorganic growth strategies such as collaborations, partnerships, acquisitions, and agreements to maintain their market shares.

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Abbott Laboratories (US) was the-largest player in 2021, with a share of 20–25%. Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging markets. The company has a strong product portfolio, and its FDA- and CE Mark-approved products have helped it maintain its market presence. The company has launched several products, including its Point-of-Care Diagnostic Afinion HbA1c Dx Assay, for COVID-19 diagnostics.

F. Hoffmann-La Roche (Switzerland) held the second position in the immunoassay market, with a share of 15-20% in 2021. The company’s leading position is mainly due to its wide product portfolio, including clinical chemistry and immunochemistry solutions, molecular diagnostic products, tissue diagnostic instruments, reagents, and kits. Under its flagship brand, cobas, the company offers various IVD instruments, reagents, and kits. The company also has a wide geographic presence, spanning North America, Europe, the Middle East & Africa, and Asia. It mainly focuses on product launches, partnerships, and collaborations to maintain its leadership position. With the acquisition of GenMark Diagnostics in 2021, Roche has been able to strengthen its Diagnostics portfolio.

Siemens Healthineers AG (Germany) held the third largest share of 5.0-10.0% of the immunoassay market in 2021. The company has a direct presence in 70 countries across the globe, with over 4,000 collaborations worldwide. The company has regional headquarters in the US and Germany and has manufacturing sites in the US, the UK, Germany, Spain, South Korea, China, and India. The company’s focus on product development and launches helps it to maintain its market position. The company has also launched several immunoassay kits to meet the demand for COVID-19 diagnosis.

Drivers: Increasing incidence of chronic and infectious diseases and growing awareness about early disease diagnosis

The burden of chronic diseases, along with the massive infection rate and the COVID-19 pandemic, has necessitated the use of immune-diagnostic assays for containment and management. Immunoassay tests are considered an essential diagnostic tool that offers reliable and low-cost detection of pathogens or target molecules. These tests are used to diagnose both highly prevalent and chronic diseases.

On a global scale, immunoassays have become the frontline diagnostics for detecting several pathogens and pathophysiological conditions. The increasing demand for the early-stage diagnosis of disease conditions using immunoassay products is another major factor driving the market growth.

Opportunities: Advancements in systems and technologies

Key players and researchers have several advanced, reliable, and economic immunoassay platforms for disease diagnostics. Automated systems offer flexibility in scale-up, massive sampling volume, faster processing, vast storage, and high efficacy required for COVID-19 diagnosis and management.

Related Links

https://www.marketsandmarkets.com/Market-Reports/immunoassay-market-436.html

https://www.marketsandmarkets.com/PressReleases/immunoassay.asp

https://www.marketsandmarkets.com/ResearchInsight/immunoassay-market.asp

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