Rise in incidence of chronic and infectious diseases and advancements in technologies have boosted the growth of the immunoprotein diagnostic testing market.

PUNE, MAHARASHTRA, UNITED STATES, December 8, 2020 /EINPresswire.com/ -- As per the report, the global immunoprotein diagnostic testing market was pegged at $10.13 billion in 2019, and projected to reach $18.38 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027. North America accounted for 40.56% of the share 2019 and is expected to dominate the market throughout the forecast period.

Major determinants of the market

Rise in incidence of chronic and infectious diseases and advancements in technologies have boosted the growth of the global immunoprotein diagnostic testing market. However, stringent regulations hamper the market. On the contrary, potential in the emerging economies and development of condition-specific assays and tests are expected to create opportunities for the market players in the future.

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COVID-19 scenario:

Conversely, owing to COVID-19 outbreak, trade and transport restrictions, quarantine measures, cross-border movement controls and disruptions in production have interrupted the manufacturing and distribution of diagnostic assays and kits, thereby adversely affecting supply chain activities. However, on account of the pandemic, several pharmaceutical companies have launched immunoprotein diagnostic assays for detecting COVID-19 infection across the world.

Due to lockdown across the globe, there is significant gap in supply and demand. Moreover, the supply chain has been disrupted.
However, the demand for immunoprotein diagnostic testing is increasing as it could be used to diagnose cardiovascular and infectious diseases.

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The oncology testing segment to manifest the highest share

By type, the oncology testing segment is expected to manifest the highest CAGR of 8.0% during the forecast period, due to increasing number of cancer patients worldwide. However, the infectious disease testing segment held the largest share in 2019, contributing to more than one-fifth of the global immunoprotein diagnostic testing market, owing to higher prevalence of infectious diseases such as hepatitis B, hepatitis C, HIV-1, HIV-1/2, and human T-lymphotropic virus types I & II.

By type, the market is divided into C-reactive protein diagnostic test, complement system protein diagnostic test, pre-albumin diagnostic test, haptoglobin diagnostic test, immunoglobulin diagnostic test, and free light chain diagnostic tests. The immunoglobulin diagnostic test segment held the largest share of 25.48% in 2019, owing to the high adoption of immunoglobulin diagnostic test for the detection of excess or deficiency of immunoglobulin that provides information about the functioning of the immune system.

Key Findings Of The Study

By type, the immunoglobulin diagnostic tests segment dominated the market in 2019, accounting for 25.48% of the share, and is projected to grow at a CAGR of 7.8%.

By application, the infectious disease testing segment accounted for the highest share of 22.93% in 2019.

Enzyme-linked immunosorbent assay technology dominated the market in 2019 and is expected to grow with a CAGR of 65.27% during the analysis period.

North America accounted for the highest share of 40.56% in 2019 and is projected to grow at a CAGR of 6.4%.

U.S. was the major shareholder in the North American immunoprotein diagnostic testing market, accounting for 87.23% share in 2019.

Asia-Pacific is expected to show the highest growth rate during the analysis period, registering a CAGR of 7.7%.

China is expected to grow at the highest CAGR of 10.6% in the Asia-Pacific immunoprotein diagnostic testing market.

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North America held the lion's share

By region, the market across North America held the largest share in 2019, accounting for around two-fifths of the market, owing to increase in demand for quick diagnostic services to detect chronic diseases, ongoing trend of preventive healthcare, and rise in the number of drug abuse and allergy cases. However, the global immunoprotein diagnostic testing market across Asia-Pacific is projected to portray the highest CAGR of 7.7% during the forecast period, due to increase in the number of patients suffering from chronic diseases and improvement in healthcare facilities in the region.

Major market players

Abbott Laboratories
Bio-Rad Laboratories
Abcam PLC
Diasorin
Danaher Corporation
Ortho Clinical Diagnostics
Enzo Life Sciences
Siemens Healthcare
Roche Diagnostics
Thermo Fisher Scientific

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