Number of pages: 100 | Report Format: PDF | Published date: March 29, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global automated immunoassay analyzers market was valued at US$ 1.34 billion in 2022 and is expected to register a revenue CAGR of 5.8% to reach US$ 2.23 billion by 2031.
Automated Immunoassay Analyzers Market Fundamentals
Immunoassay analyzers are instruments that automate and standardize the immunoassay process. Immunoassays are laboratory tests that use an antibody-antigen response to detect the presence or amount of a certain analyte (such as a hormone, medication, or protein) in a sample (such as blood, urine, or saliva). Immunoassay analyzers quantify the quantity of analyte in a sample using various methods, such as chemiluminescence, enzyme-linked immunosorbent assay (ELISA), and fluorescence. Immunoassay analyzers are extensively used in medical laboratories to diagnose and monitor a variety of illnesses and conditions, such as infectious diseases, cancer, autoimmune disorders, and hormone abnormalities. They are also employed in drug testing, therapeutic drug monitoring, and research.
In medical and clinical laboratories, immunoassay analyzers are used to execute automated biochemical tests to identify the presence and quantity of chemicals in samples. Immunoassay analyzers may perform various assays, including cancer marker detection, infectious disease diagnosis, cardiac analysis, therapeutic medication monitoring, and allergy testing. An immunoassay analyzer may process a sample in two ways: random sampling and continuous access sampling. Microparticle enzyme, ion capture, fluorescence polarization, and chemiluminescence immunoassays can be performed on the samples. Evaluating the types of tests and reagents necessary, the necessity for automated repetition and dilution, and the speed with which the tests may be conducted are critical while selecting an immunoassay analyzer.
Immunoassay analyzers are used in a variety of clinical laboratory service sectors to improve service and quality while lowering costs. Immunoassays are biochemical tests that detect the presence or quantity of a drug in a complicated mixture of compounds. Analytes in biological liquids, such as serum or urine, are routinely tested using immunoassay procedures, which typically include the use of an antibody or, in some cases, an antigen. Keeping up with novel biomarkers and consolidating a diverse test menu are critical steps for designing new immunoassay devices and kits—or upgrading current ones. This analyzer is extensively utilized in a variety of applications due to its accuracy and short test time. Immunoassays are extensively employed in pharmaceutical and biotechnology research and development, as well as quality control and clinical diagnosis. Moreover, escalating drug and substance addiction and consumption has resulted in an increased requirement for drug screening in the workplace, military forces, and other settings. The presence of drugs can be identified utilizing immunoassay tests, which can be processed quickly, are affordable, and are favored in preliminary screening testing. Cocaine metabolites, marijuana metabolites, amphetamines, phencyclidine, and opiate metabolites are the most routinely tested for.
Automated Immunoassay Analyzers Market Dynamics
The increased demand for immunoassays to diagnose and identify microorganism-based illnesses is one of the major reasons likely to drive revenue growth in the automated immunoassay analyzers market. Furthermore, the rapid rise in the need for controlling and suppressing the occurrence of major diseases and the increase in the incidence of chronic disease conditions, such as cancer and autoimmune disorders, are expected to drive revenue growth in the global immunoassay analyzers market. Similarly, the rise in the senior population, changes in lifestyle, and an increase in smoking and drinking habits are expected to drive market expansion. Also, the increased demand for automated and portable immunoassay systems is projected to function as a catalyst to flourish the revenue growth of the automated immunoassay analyzers market.
The introduction of technologically superior analyzers in Europe has greatly boosted regional market revenue growth. For instance, in March 2021, Roche improved its Cobas pro-integrated solutions and offered eight new configurations in countries accepting CE certification. The enhanced version can perform up to 4,400 tests per hour, more than twice in comparison to its previous testing capability. In addition, EurofinsAbraxis-a biotechnology company, launched an automated ELISA Analyzer, CAAS Cube - a single plate analysis device supporting better data processing and adjustable settings to satisfy laboratory testing requirements in December 2019.
The extensive usage of technologically sophisticated products, such as automated and small portable analyzers, is predicted to be one of the major factors driving the market revenue growth. For instance, in October 2019, LGC, a contract research company from the United Kingdom, selected Quanterix’s HD-X automated analyzer to assist drug developers in bioanalytical investigations and to support its facilities in Cambridge, the U.K. Another area of interest is automated immunoassay analyzer testing for detecting neurological, cardiovascular, rheumatic, and other illnesses.
The automated immunoassay analyzer’s main drawbacks are its high cost and limited availability in healthcare settings. The cost of automated immunoassay analyzers can be significant due to factors such as patient management in a hospital setting, infrastructure needs, and risk assessments. As a result, they are more expensive, which may limit the revenue growth of the automated immunoassay analyzers market.
Automated Immunoassay Analyzers Market Ecosystem
The global automated immunoassay analyzers market has been analyzed from four perspectives: product, application, end user, and region.
Automated Immunoassay Analyzers Market by Product
Based on product, the global automated immunoassay analyzers market has been segmented into immunofluorescence, chemiluminescence, enzyme-linked fluorescent system, and radioimmunoassay.
The chemiluminescence segment accounted for the largest revenue share of the global automated immunoassay analyzers market. Rising demand for lab automation and the popularity of these products, resulting from the massive funding for R&D activities aimed at providing innovative solutions and resolving issues with the current product portfolio and wide clinical applications, will drive demand for automated immunoassay analyzers in the coming years. Technological advancements in efficient lab equipment are projected to drive the global automated immunoassay analyzers market.
Automated Immunoassay Analyzers Market by Application
Based on application, the global automated immunoassay analyzers market has been segmented into infectious diseases, endocrinology, drug monitoring, chronic diseases, and allergy testing.
The infectious diseases segment is likely to dominate the market during the forecast period. The rising prevalence of infectious diseases in developing countries will fuel market revenue growth. Furthermore, there is a growing investment in R&D firms for testing and developing facilities for automated immunoassay analyzers. These are revenue-generating aspects for the automated immunoassay analyzers industry in the coming years.
Automated Immunoassay Analyzers Market by End User
Based on end user, the global automated immunoassay analyzers market has been segmented into academic research institutes, biotech and pharma companies, hospitals, and diagnostic test laboratories.
The hospitals segment is expected to dominate the market during the forecast period. A considerable proportion can be attributed to the rising demand for immunoassay products in hospitals due to chronic and infectious disorders. The growing number of corporate hospital chains drives up market demand for automated immunoassay analyzers even more.
The diagnostic test labs segment is expected to develop the fastest, leading to an increase in diagnostic test laboratories, particularly in emerging economies, due to fast and cost-effective testing services. Automated technologies allow laboratories to better employ their skilled resources for more important tasks, such as analyzing and assessing test findings. Also, the tendency of major corporate diagnostic labs to acquire smaller diagnostic test laboratories with limited infrastructure adds to market expansion.
Automated Immunoassay Analyzers Market by Region
Based on region, the global automated immunoassay analyzers market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is likely to be the market leader in automated immunoassay analyzers for the foreseeable future. The region’s dominance is attributed to an increase in the cases of chronic illnesses and more technology usage. According to the Centers for Disease Control and Prevention, cardiovascular disorders are the leading cause of mortality among American males. Further reasons stimulating the market in the near future include a dramatic increase in healthcare expenditure and a strong demand for improved health outcomes at reduced prices, the availability of a well-developed infrastructure, and the presence of large industries.
Europe will show lucrative revenue growth during the forecast period. Germany dominates the Europe market, accounting for the greatest revenue share, and is likely to retain its position during the projection period. Due to its supporting healthcare regulations, Germany’s market is likely to develop significantly. Also, a high older population pool in Germany is a big market driver. According to the UN demographic estimates, 1 in every 20 individuals in Germany is above 80, and the figure is anticipated to rise to 6 by 2050. Due to the advent of senescence and lower immune levels, the possibility of acquiring chronic diseases, such as cardiovascular disease, diabetes, and neurovascular disorders, increases with age.
Compared to other regional markets, the Asia Pacific market is expected to register revenue growth at the fastest rate during the forecast period. Japan is a leading country with significant technical breakthroughs and expanded usage of immunoassay research for a wide range of applications. Moreover, China leads other nations in terms of revenue contribution to the Asia Pacific automated immunoassay analyzers market, and this trend is projected to continue.
Automated Immunoassay Analyzers Market Competitive Landscape
To meet unmet patient demands, key companies are conducting major strategic activities in the field of immunoassay analyzers, including mergers and acquisitions, new product development, and geographical expansions.
The key companies in the automated immunoassay analyzers market include:
Automated Immunoassay Analyzers Market Strategic Developments
Europe is the key revenue growth region in the global automated immunoassay analyzers market.
The increased demand for immunoassays to diagnose and identify microorganism-based disorders and the rise in chronic disease conditions are the prime factors driving revenue growth in the market.
The global automated immunoassay analyzers market is expected to register a revenue CAGR of 5.8% during the forecast period.
The key companies in the automated immunoassay analyzers market include BioRad, Siemens Healthcare, and Carolina Liquid Chemistries Corporation.
The infectious disease application segment leads the global automated immunoassay analyzers market.
*Insights on financial performance are subject to the availability of information in the public domain