Automated Immunoassay Analyzers Market Trends, Industry Outlook & Future Advancements
Date: 2018-09-06   Author: Rahul Sankrityayan  Category: #market

Automated Immunoassay Analyzers Market Trends, Industry Outlook & Future Advancements

Automated Immunoassay Analyzers Market was valued at USD 8 billion in 2016 and is projected to experience growth at 15% CAGR from 2018 to 2024.

Automated immunoassay analyzers will witness a significant growth owing to rising incidences of infectious diseases such as lower respiratory infections, HIV/AIDS and diarrheal diseases. As per WHO, diarrheal disease is one of the top 10 leading causes of infectious disease deaths across the world, leading to 1.5 million deaths annually. Increasing demand for early and accurate diagnosis of infectious diseases will drive the market growth.  

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Expanding clinical applications of automated immunoassay analyzers in hospitals, clinical diagnostics and research and development will further escalate the growth of the market. Extensive use of analyzers for cardiac analysis, testing for cancer markers, therapeutic drug monitoring, and allergy testing will further propel the industry growth.

Lack of qualified and trained professionals and high cost of automated immunoassay analyzers will hamper the industry growth. Also, stringent established regulations and declining reimbursement policies in developed countries may further restrain the growth opportunities in the market.

Chemiluminescence immunoassay analyzers segment is anticipated to witness lucrative growth in the forecast period owing to its wide linear range, fast and convenient operation, ease of automation, high accuracy and sensitivity features. Wide range of applications offered by chemiluminescence technology as compared to traditional immunoassay analyzers will further boost the growth of market.

Infectious diseases will witness a robust growth owing to rising demand for investigation and identification of infectious diseases. Innovative product launches coupled with increasing adoption of improved diagnostic technologies will enable to perform specialized routine tests. Increasing prevalence of infectious diseases and improved healthcare facilities is set to stimulate segment growth at considerable rate in the future.

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Hospital segment will experience a significant growth in the forecast timeframe due to presence of cutting edge immunoassay technologies and skilled healthcare professionals. Increasing adoption rate of automated immunoassay analyzers in hospitals due to high funding by government will lead to growth opportunities in this segment. Rising number of patient flow due to infectious diseases coupled with various favorable reimbursement policies will drive segment growth.

U.S. automated immunoassay analyzers market accounted for more than 90% of the regional revenue share in 2016. Increasing government and private investments and supported research and development funding will help in commercializing immunoassay analyzers. Further, presence of well-established healthcare infrastructure, acceptance of advanced technologies and increasing risks of infectious diseases will contribute towards revenue growth.

Some of the key industry players are Abbott Diagnostics, Ortho Clinical Diagnostics, Roche Diagnostics, Siemens Healthcare, Carolina Liquid Chemistries Corporation and Biokit. The strategic initiatives adopted by these companies are new product launches, acquisitions, collaborations and geographical expansion. In 2017, Siemens Healthineers commercialized its Atellica Solution, an advanced diagnostics analyzer across Europe, the United States, South America and Asia. The new solution will enhance company’s product portfolio and strengthen its market position.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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