Chemiluminescence Immunoassay Market worth $19.0 billion by 2028 , growing at a CAGR of 7.5%

(IT-NEWSWIRE.COM, February 19, 2024 ) The report "Chemiluminescence Immunoassay Market by Product (Instrument, Consumable), Technology (Chemiluminescence Enzyme, Microparticle Chemiluminescence), Sample (Blood, Urine), Application (Infectious Disease, Oncology), End User - Global Forecast to 2028", is projected to reach USD 19.0 billion by 2028 from USD 13.2 billion in 2023, at a CAGR of 7.5% during the forecast period. Growth in the chemiluminescence immunoassay market is mainly driven by the growing prevalence of chronic diseases, Advancements in improving chemiluminescence immunoassay technologies in recent years, rising demand for point-of-care testing (POCT), growth of biotechnology and biopharmaceutical industries, and a rapid increase in geriatric population globally. In addition, emerging markets such as India and China are expected to offer growth opportunities for players operating in the chemiluminescence immunoassay market during the forecast period. However, the high cost of CLIA systems is restricting the growth of this market.

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In 2022, the consumables segment held the largest share of the chemiluminescence market, by product segment

Based on product, the global chemiluminescence immunoassay market is categorized into consumables and instruments. The repetitive purchase of consumables such as reagents for every test is a major factor driving the growth of the segment. Besides the availability of efficient assays and reagents for diagnostic purposes has propelled its demand among end users.

In 2022, the infectious disease diagnostics segment held the largest share of the chemiluminescence market, by application segment

The chemiluminescence immunoassay market, by application, has been segmented into infectious diseases, endocrinology, oncology, bone & mineral disorders, cardiology, blood screening, autoimmune disorders, allergy diagnostics, toxicology, newborn screening, gastroenterology, neurology, respiratory, therapeutic drug monitoring, metabolic disorders, and other applications. The large share of this segment can be attributed to the development and introduction of advanced assays for the diagnosis of different diseases & conditions, and the increase in the population with infectious diseases.

North America dominates the global chemiluminescence immunoassay market

Based on the region, the chemiluminescence immunoassay market is segmented into North America, Europe, Asia Pacific, and Rest of the world. In 2022, North America accounted for the largest share of the chemiluminescence immunoassay market. The large share of North America in this market can be attributed to the increasing prevalence of infectious diseases and cancer and rising healthcare spending, which is highly developed in the US and Canada.

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The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Siemens Healthineers AG (Germany), DiaSorin S.p.A. (Italy), Abbott Laboratories (US), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Sysmex Corporation (Japan), Diatron (Hungary), Getein Biotech, Inc. (China), Werfen (Spain), QuidelOrtho Corporation (US), EUROIMMUN (Germany), Merck KGaA (Germany), Tosoh Corporation (Japan), Trivitron Healthcare (India), Abnova Corporation (Taiwan), Elabscience (US), Maccura Biotechnology Co., Ltd. (China), Autobio Diagnostics Co., Ltd. (China), Jiangsu Zecen Biotech Co., Ltd (China), Rayto Life and Analytical Sciences Co., Ltd. (China), Daan Gene Co., Ltd. (China), DYNEX TECHNOLOGIES, Inc. (US), Zybio, Inc. (China), Wiener Laboratorios SAIC (Argentina), Tianjin Era Biology Technology Co., Ltd. (China).

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Chemiluminescence Immunoassay Market worth $19.0 billion by 2028 , growing at a CAGR of 7.5%