Global Chemiluminescence Immunoassay Market Driven by Increasing Incidence of Diseases and Technological Advancements
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By LabMedica International staff writers Posted on 14 Sep 2023 |
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Image: The global chemiluminescence immunoassay market is expected to reach USD 19 billion by 2028 (Photo courtesy of 123RF)
Chemiluminescence immunoassays are crucial for the accurate diagnosis and management of infectious diseases such as HIV/AIDS, hepatitis, respiratory issues, and sexually transmitted infections. This vital role in disease management is acting as a key growth driver of the global chemiluminescence immunoassays market which is expected to register a CAGR of 7.5% from approximately USD 13.2 billion in 2023 to USD 19 billion by 2028. The need for accurate and timely diagnosis of these diseases in order to enable their effective treatment and control is expected to continue driving market growth.
These are the latest findings of Research and Markets (Dublin, Ireland), a leading source for international market research reports and market data.
By sample type, the blood samples segment is projected to witness the highest growth in the chemiluminescence immunoassay market during the forecast period, driven primarily by the increasing number of blood donations and rising incidence of chronic and infectious diseases. Based on application, the oncology testing segment is projected to register the highest growth in the chemiluminescence immunoassay market during the forecast period. This can be attributed to the surge in demand for oncology testing as a result of a rise in the incidence of cancer, increasing emphasis on the need for early detection and treatment of cancer, alongside measures to expand cancer screening measures.
Geographically, the chemiluminescence immunoassay market in Asia Pacific is poised to register the highest CAGR during the forecast period. Countries such as China and India have been investing heavily in healthcare infrastructure development and have a substantial target population. These factors are expected to generate strong growth prospects for companies operating in the chemiluminescence immunoassay market in this region.
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