The global immunoassays in R&D market is expected to exhibit a strong 8.18% CAGR over the forecast period from 2018 to 2023 and rise to a valuation of USD 7,716.6 million, according to the latest research report from Market Research Future (MRFR). The report profiles the global immunoassay in R&D market in detail and provides a comprehensive analysis of the market’s growth trajectory over the historical review period. The key factors influencing the growth of the market over the period are studied in detail in the report, providing readers with a clear look at the factors driving and restraining the immunoassays in R&D market.
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Immunoassays are a bioanalytical tool widely used in disease diagnosis and therapeutic drug research, development, and monitoring. Immunoassays provide an accurate quantitative analysis of drug development processes and testing. The quantitative analysis provided by immunoassays is the leading driver for the global immunoassays in R&D market, as more accurate, well-informed decisions can be made regarding dosage and formulations with the help of immunoassays. The increasing demand for more effective drug formulations in the pharmaceutical sector is likely to be a major driver for the global immunoassays in R&D market over the forecast period. As the prevalence of diseases has grown, the demand for more effective drug development has grown stronger, leading to a growing demand from the immunoassays market.
The growing prevalence of autoimmune disorders, infectious diseases, endocrine disorders, and cancer is likely to be a major driver for the immunoassay in R&D market, as these comprise major disease classes in which immunoassays are widely used for drug development and monitoring. Growing pollution and environmental problems have triggered a rise in the prevalence of autoimmune diseases in recent years, leading to a growing demand for organic, risk-free medication that can control autoimmune diseases. Cancer research has also become a major expenditure avenue for healthcare investors and is likely to remain a profitable revenue generator for the immunoassays in R&D market over the forecast period.
Leading players in the global immunoassays in R&D market include Abcam plc, Sysmex Corporation, F. Hoffman-La Roche Ltd., Abbott Laboratories, bioMerieux Inc., Danaher Corporation, Becton Dickinson and Company, Siemens Healthineers, Thermo Fisher Scientific Inc., and Bio-Rad Laboratories Inc. Developing single-use kits as well as a healthy software platform are likely to remain important agendas for players in the immunoassays in R&D market over the forecast period. Growing demand for single-use pharmaceutical kits in order to ensure zero contamination is likely to drive development in the immunoassay in R&D market. The growing demand for easily integrable software platforms for running immunoassay operations is also likely to be a major driver for the global immunoassay in R&D market over the forecast period.
The global immunoassays in R&D market is segmented on the basis of product, type, application, end user, and region.
By product type, the global immunoassays in R&D market is segmented into kits and reagents, analyzers, and software and services.
By type, the global immunoassays in R&D market is segmented into enzyme-linked immunosorbent assays (ELISA), enzyme-linked immunospot assay (ELISpot), chemiluminescence, fluoroimmunoassay, and others.
By application, the market is segmented into infectious diseases, cancer research, endocrinology, autoimmune diseases, and others.
By end use, the immunoassay in R&D market is segmented into pharmaceutical and biotechnology companies, academic institutions and laboratories, and others.
The Americas is likely to be the dominant regional market for immunoassays in R&D over the forecast period. The strong presence of healthcare research agencies in the region, allied to strong government funding for healthcare technology development, is likely to be a major driver for the global immunoassay in R&D market over the forecast period. The growing awareness about autoimmune diseases and cancer research in the region is likely to be a major driver for the immunoassays in R&D market. Europe is also likely to be a major regional market for immunoassays in R&D due to the growing government support for medical research.
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