The Automated Immunoassay Analyzers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automated Immunoassay Analyzers Global Market Report 2024, The automated immunoassay analyzer market size has grown rapidly in recent years. It will grow from $17.69 billion in 2023 to $20.20 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to rising demand for accurate and rapid diagnostic tests, increasing prevalence of chronic diseases such as diabetes and cancer, necessitating frequent monitoring, growing advancements in immunoassay technologies, enhancing the efficiency and precision of testing, expanding healthcare infrastructure in emerging economies, improving access to diagnostic tools and increasing investments in research and development by major healthcare companies to innovate and improve diagnostic solutions.
The automated immunoassay analyzer market size is expected to see rapid growth in the next few years. It will grow to $34.92 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to advancements in automation technologies driving the adoption of more efficient and accurate analyzers, rising prevalence of infectious diseases, growing emphasis on personalized medicine necessitating more sophisticated immunoassay solutions, expanding global healthcare expenditure enhancing the affordability and accessibility of advanced diagnostic tools and technological integration with digital health solutions improving the functionality and data management of analyzers. Major trends in the forecast period include increased adoption of multiplex immunoassays enabling simultaneous detection of multiple analytes, growth in point-of-care testing (POCT) technologies facilitating on-site and rapid diagnostic capabilities, emergence of ai and machine learning applications to enhance accuracy and predictive analytics in immunoassays, rising use of advanced bioinformatics tools for data analysis and interpretation in immunoassay testing and growing market presence of portable and user-friendly analyzers catering to diverse healthcare settings and applications.
The increasing number of hospitals is expected to propel the growth of the automated immunoassay analyzer market going forward. The number of hospitals is rising due to increasing healthcare demands from a growing and aging population. Automated immunoassay analyzers enhance efficiency and accuracy in hospitals by rapidly processing large volumes of diagnostic tests for various diseases and conditions. For instance, in May 2023, according to the American Health Care Association, a US-based nonprofit organization, the number of hospitals in the US increased to 6,129 from 6,093 in 2022, showing an increase of 0.59%. Therefore, the increasing number of hospitals is driving the growth of the automated immunoassay analyzer market.
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The automated immunoassay analyzers market covered in this report is segmented –
1) By Product: Immunofluorescence, Chemiluminescence, Enzyme Linked Fluorescent System (ELISA), Multiplexed Assay System, Radioimmunoassay
2) By Application: Infectious Diseases, Endocrinology, Drug Monitoring, Cardiology, Oncology, Allergy Testing, Other Applications
3) By End-User: Hospitals, Diagnostic Laboratories, Research And Academic Laboratories, Pharmaceutical And Biotechnology Companies, Other End-Users
Major companies operating in the automated immunoassay analyzers market are focusing on developing innovative products, such as compact immunoassay analyzers, to gain a competitive advantage. Compact immunoassay analyzers are smaller, portable devices designed for conducting immunoassay tests that detect specific biomarkers in biological samples. They offer convenience and efficiency in various healthcare settings, particularly where space and mobility are limited. For instance, in July 2023, Siemens Healthineers, a Germany-based healthcare company, launched the Atellica CI Analyzer, a compact laboratory testing system aimed at improving efficiency in both immunoassay and clinical chemistry testing. By combining these two testing methods into a single platform, the Atellica CI Analyzer meets the growing demand for versatile systems capable of conducting various tests efficiently. The features of this product align well with current market trends, effectively addressing the challenges laboratories face in delivering timely and accurate diagnostic results. Random access sampling, micro-volume aspiration, and automated maintenance and quality control scheduling assist laboratories in achieving more consistent and predictable sample processing times.
The automated immunoassay analyzers market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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