Global Immunoassay Market Driven by Growing Incidence of Chronic and Infectious Diseases
Posted on 08 Sep 2022
The healthcare industry is following a multifaceted route to cure and immunize patients against widespread infections and diseases. It is important for medical practitioners to understand the root causes of an infection in order to administer the right treatment. Medical practitioners mandate the use of macromolecular tests to understand the nature and type of disease or infection. The use of antibodies and antigens to conduct immunoassays has helped in improving diagnosis across the medical and healthcare fraternities. The growing incidence of chronic and infectious diseases is anticipated to fuel the demand for immunoassays. As a result, the global immunoassay market is projected to reach USD 28.61 billion by 2026.
These are the latest findings of Transparency Market Research Inc. (TMR, Wilmington, DE, USA), a global market research company.
The growing geriatric population across the world is anticipated to be a key growth driver of the global immunoassay market. Owing to low immunity associated with old age, the elderly population is more susceptible to chronic diseases and various infections. Most diseases such as arthritis, hypertension, diabetes, and dementia are diagnosed in the elderly population. As per a report published by the United Nations, in 2017, the worldwide geriatric population stood at 962 million and is estimated to reach 2.1 billion by the end of 2050. This, in turn, is likely to create potential growth opportunities for the global immunoassay market. Additionally, the growing incidence of infectious diseases such as hepatitis, dengue, neurological disorders, and AIDS is also expected to create tremendous growth opportunities for the global immunoassay market.
The growth of the global immunoassay market largely depends on advancements in medical treatments and therapies. The use of analytes, antigens, and antibodies for immunoassays has generated humongous opportunities for the market players. There is a need for studying and quantifying analytes present in biological liquid samples such as urine or serum, and immunoassays can help meet this need. Medical practitioners study body proteins to analyze the reasons and causes behind the occurrence of a particular medical condition. Furthermore, the molecular composition of the human body is also analyzed before administering treatment for critical infections. Several kinds of proteins and macromolecules can be studied through immunoassays.
Medical professionals use several types of immunoassays that come in different formats. These immunoassays can be blended with certain reagents in order to enhance the performance of the former. Heterogeneous immunoassays have gained popularity across the medical industry. Physical measurements pertaining to immunoassays are under review, and favorable results could contribute to the growth of the market. The medical research industry is continually scouting for new technologies that can help in improving the performance of immunoassays. The application of protein-analysis in key domains within healthcare has benefitted the immunoassay market.
Several types of clinical tests involve the use of immunoassay techniques, also known as immunodiagnostic tests. The use of immunoassays for pregnancy detection at home has emerged as a key demand driver in the global market. The use of immunoassay to measure insulin levels and diagnose heart diseases has also gained momentum. Additionally, the use of immunoassays for diagnosing cancers has become a key demand driver in the global market. For instance, the use of immunoassays for diagnosing prostate cancer has increased, mainly due to the ease of assessing prostate-specific antigens and hypoglycaemia through immunoassays.
In order to speed-up the diagnosis process, the companies operating in the global immunoassay market are focusing on the development of novel immunoassay products. The leading vendors operating in the global immunoassay market are focusing on developing multiple-marker technologies. The development of customized immunoassays that can help in diagnosing cancers, heart diseases, and other diseases will help the players capture new markets.
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