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The global Immunoassay market has been estimated to reach 17.16 billion in 2017. : The global Immunoassays market is expected to register a CAGR of 9.7% during the forecast period, 2018 to 2023. North America dominates the market due to the technological advancement in the immunoassay products and rising incidence in the chronic diseases like thyroid, cardiovascular diseases.
High Sensitivity and Specificity
Compared to conventional tests, immunoassays have been proven to provide highly accurate results even with very small samples. Immunoassays are considered to have a detection limit of 1pg/ml. This can be attributed to the fact that immunoassays are based entirely on immunologic reactions. Immunologic reactions are highly specific as they can take place only in the presence of proper immunologic agents. Immunoassays have a range of applications in pharmaceutical analysis such as diagnosis of disease, therapeutic drug monitoring, clinical pharmacokinetics and bioequivalence in drug discovery and pharmaceutical industries.
Additionally, cost effectives and rapid analysis by the immunoassays and growth in the biotechnology and pharmaceutical sectors are also driving the growth of the Global Immunoassays Market.
Limitations Associated with Immunoassay
Immunoassays have shown high sensitivity and specificity. While this have advantages, there have been many limitations associated with the procedure. The limit of detection LOD for most of the immunoassays is limited primarily by the signaltonoise ratio provided by the instrument that is used to detect antibodyantigen binding or by nonspecific binding NSB. Immunoassays are very complex to develop and manufacture and employs complex biomolecules such as antibodies, antigens and enzymes for the detection of the target molecules. Additionally, complex assay procedures are also acting as a restraint for the global immunoassays market.
North America to Dominate the Market
The market has been segmented by technology into enzyme immunoassay, fluorescence immunoassay, chemiluminescence immunoassay, radioimmunoassay, nephelometric immunoassay, and others. Based on therapeutic areas, it has been segmented into cardiology, thyroid, autoimmune disease, oncology, infectious disease, hematology, allergy, and others. By end user, the market is segmented into hospital, centralized laboratory, academic institution, pharma biotech firm, contract research organization, and others. The market is segmented on the basis of geography into North America, Europe, AsiaPacific, South America, and Middle East Africa. The regions have been further divided into major constituent countries.
North America dominates the Global Immunoassays Market which is mainly driven by increasing incidence of chronic disease and use of immunoassays in oncology.
Key Developments in the Market
September 2017: Meridian Life science Inc. launches TRUBlock Ultra which is an active immunoassay interference blocker created by HAMA, rheumatoid factor RH and heterophillic antibodies HA.
June 2017: Qiagen developed QFTPlus which detects latent tuberculosis infection got FDA approval.
Key Players: ABBOTT LABORATORIES INC., BECTON DICKINSON AND COMPANY, DANAHER CORPORATION BECKMAN COULTER, EDP BIOTECH CORPORATION, HOLOGIC GENPROBE, LUMINEX CORPORATION, MERIDIAN LIFE SCIENCE INC., QIAGEN
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Current and future Immunoassays Market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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