Immunodiagnostics Market to exceed US$ 34,487.80 million by 2030

Published on 04-Jul-2023
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Report : Immunodiagnostics Market Size, Share, Growth by 2030

Technological Advancements in Immunodiagnostics will likely be a prevalent trend in the immunodiagnostics market According to our new research study on "Immunodiagnostics Market -Global Analysis and Forecast - by Product, Clinical Indication, and End User," the Immunodiagnostics market size is expected to reach US$ 34,487.80 million by 2030 from US$ 19,218.89 million in 2022; it is estimated to record a CAGR of 7.6% from 2022 to 2030. The report highlights the trends prevalent in the global immunodiagnostics market, and the drivers and deterrents pertaining to immunodiagnostics market growth. The market growth is mainly attributed to factors such as increasing prevalence of infectious diseases and growing use of point-of-care immunodiagnostics. However, the inadequate reimbursement scenario hinder the immunodiagnostics market growth. The current trend in immunodiagnostics is microfluidics and magnetic beads with potential commercialization. These sensitive, specific, and time-saving methodologies are essential in understanding and diagnosing health conditions, such as infectious diseases, metabolic disorders, and cardiac problems. The increasing applications of immunodiagnostic solutions encouraged the development of targeted treatments and therapies for precision health. The prominent market players also promote assay technologies, microfluidics, and magnetic beads. For immunoassays, magnetic particles, such as Sera-Mag beads, offer a convenient alternative to plate-based ELISAs, as both rely on the same assay principle. Merck KGaA launched the Magna Chip Protein A magnetic beads. This recombinant Protein A is covalently bound to magnetic beads for chromatin immunoprecipitations (Chip assays), providing users with a faster, reproducible, and more efficient reagent for collecting immunocomplexes than agarose beads. In microfluidics, some immunodiagnostics target single biomarkers. However, a recent trend shows the detection of multiple analytes according to the complexity and the need to make early reliable diagnoses. For example, in 2019, OPKO Health Inc. gained approval from the US FDA for prostate-specific antigen testing that improves the accuracy of prostate cancer diagnosis and reduces unnecessary prostate biopsies. OPKO Health's test uses microfluidics, a recent development in immunodiagnostics, to assay an array of biomarkers. In September 2022, Siemens Healthineers released its new CE-marked SARS-CoV-2/FluA/FluB/HRSV assay, a PCR test, and the CLINITEST Rapid COVID-19 + Influenza Antigen Test. The new FTD SARS-CoV-2/FluA/FluB/HRSV assay enables comprehensive and semi-automated molecular testing for seasonal respiratory pathogens. The combination PCR test detects and differentiates clinically relevant viruses such as SARS-CoV-2, Influenza A, Influenza B, and HRSV A/B. Thus, the technological advancements in immunodiagnostics will likely be a prevalent trend in the market over the coming years. North America is leading the global immunodiagnostics market due to growing government support for adopting advanced diagnostics, increasing R&D efforts, and initiatives such as strategic collaborations by market players is driving the demand for immunodiagnostics options are the key factors propelling the immunodiagnostics market growth. The prevalence of cancer is increasing in the country at an alarming rate, leading to the rising demand for cancer diagnoses. According to the American Cancer Society

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