End users of this market are hospitals and clinics, diagnostic laboratories, research laboratories, and biopharmaceutical and biotechnology companies among others.
Some of the factors that drive the growth of the immunochemistry market are:
- Increasing number of patients with various health conditions such as cardiovascular disorders and cancer
- Rising demand for advanced immunochemistry technologies
- Increasing research and development activities
- Government initiative
- Increasing disease-specific immunoassay test volumes, and
- Growing aging population
Globally, the market represents approximately 40.1% of the global in vitro diagnostics (IVD) market. Also, global factors such as increasing focus on drug monitoring, rising prevalence of various diseases, technological advancement, and increasing awareness of new diagnostics tools among medical professionals contribute to the immunochemistry market growth.
However, stringent government regulations to produce the immunochemistry products and high cost of the products restrain the market growth.
The report segments the market into immunoassay reagents and instruments.
- The instruments segment includes Immunochemistry Analyzers, (Radioimmunoassay (RIA) Analyzers, Multiplexed Assay Systems, Chemiluminescence Immunoassay (CLIA) Analyzers, Immuno Fluorescence (IFA) Analyzers, Enzyme Immunoassay (EIA) Analyzers, Enzyme Linked Fluorescent Assay (ELFA) Analyzers, and Stainers (Automated and Semi-Automated).
- This analyzer market by application is categorized into Endocrinology, Oncology, Cardiology, Therapeutic Drug Development & Monitoring, Infectious Disease Testing, and Drugs of Abuse Testing.
Region-wise, the market is divided into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and the Middle East & Africa. Key players in the market include Siemens, Abbott Diagnostics, Beckman Coulter, Ortho Clinical Diagnostics, Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche Ltd.
It is very important for end users to know which analyzer to use because the analysis time and reagents differ with different analyzers, which make these instruments highly sophisticated. A reliable lab equipment supplier can help choose the right product that suits specific user requirements.