The global chemiluminescence immunoassay market is projected to be valued at US$ 8.08 billion in 2024 and is expected to exhibit a CAGR of 23.7% over the forecast period from 2024 to 2031. Chemiluminescence immunoassay is a widely used technique for quantitatively measuring analytes, specific proteins, and other biomarkers in biological and pharmaceutical samples. This technique provides accurate, sensitive, and rapid diagnostics to detect diseases, cardiac disorders, infections, and other medical conditions.
Chemiluminescence Immunoassay Market Trends uses the phenomenon of chemiluminescence produced by a chemical reaction to detect and measure the concentration of target analytes in biological samples. The technique offers high specificity and reproducibility in detecting analytes such as hormones, tumor markers, bacterial infections, therapeutic drug monitoring and several other analytes involved in various diseases and disorders. The growing prevalence of chronic and infectious diseases globally is generating demand for diagnostic tests, thus driving the growth of the chemiluminescence immunoassay market.
The Global chemiluminescence immunoassay market is estimated to be valued at US$ 8.08 billion in 2024 and is expected to exhibit a CAGR of 23% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the chemiluminescence immunoassay market are AGCO Corporation, Deere & Company, Mahindra and Mahindra Ltd, Autonomous Tractor Corporation, CNH Industrial, Kubota Corporation, Dutch Power Company (Alamo Group), Yanmar Co. Ltd, Zimeno Inc DBA Monarch Tractor, AutoNext Automation.
The rising prevalence of chronic diseases and increasing healthcare expenditure are key factors fueling the demand for diagnostic tests. According to the WHO, chronic diseases accounted for approximately 60% of all reported deaths globally in 2001.
Technological advancements in chemiluminescence immunoassay such as automated systems, microplate-based readers, and miniaturization of devices have increased adoption and improved throughput of diagnostic tests. Automation of immunoassay has enhanced accuracy, reduced reagent consumption, and improved workflow efficiency.
Market Trends
- Point-of-care testing (POCT) is gaining popularity owing to advantages such as real-time results, minimal laboratory infrastructure requirements and decentralization of testing. Portable and handheld chemiluminescence immunoassay analyzers suitable for POCT are being developed by market players.
- Miniaturization of chemiluminescence immunoassay through the development of microfluidic platforms, lab-on-a-chip devices and microarrays is another emerging trend. Miniaturized platforms reduce sample volume requirements and provide faster results with portability.
Market Opportunities
Growing demand for disease screening and disease management in developing countries presents significant growth opportunities for players. Increasing healthcare access and spending will drive the adoption of diagnostic testing in medium-to-low income countries.
The rising prevalence of lifestyle diseases such as diabetes, cardiac disorders will propel the demand for chemiluminescence immunoassay in laboratory-based and point-of-care settings for diagnostic applications and disease management over the forecast period.
Impact of COVID-19 on Chemiluminescence Immunoassay Market Growth
The COVID-19 pandemic severely impacted the chemiluminescence immunoassay market growth. During the initial phases of the pandemic, travel restrictions and lockdowns disrupted the supply chain which led to shortage of raw materials. Manufacturing facilities faced closure due to workforce shortages. The demand from diagnostic labs also saw a steep decline as resources were redirected towards COVID-19 testing. This affected the revenue of key market players. However, as the pandemic intensified, the demand for CLIA assay kits surged manifold as they were extensively used for detecting COVID-19 antibodies and antigens. New product launches catering to COVID-19 diagnosis further boosted the market. The post pandemic scenario is also expected to drive significant growth as testing is expected to remain high. Market players are expanding production capacities to meet future demands. Partnerships with research institutes are also being fostered for assay development. Adoption of advanced automation is underway to sustain high throughput requirements.
The Asia Pacific region has emerged as the market with the highest concentration of chemiluminescence immunoassay market value. This is attributed to high population density combined with increased incidence of chronic and infectious diseases. Rapid economic development and government focus on strengthening healthcare infrastructure has augmented diagnostic testing in countries like China and India. North America currently holds the second largest share due to high adoption of advanced diagnostic technologies and presence of leading market players. However, other regions like Latin America and Middle East & Africa are expected to showcase high growth rates on account of rising medical expenditures and expanding healthcare access.
Fastest Growing Regional Market for Chemiluminescence Immunoassay
The Asia Pacific region is poised to be the fastest growing regional market for chemiluminescence immunoassay. This is owing to large patient pools, healthcare reforms to universalize coverage, and escalating per capita healthcare spends. Growing geriatric population suffering from lifestyle diseases further augments the demand. Presence of emerging economies experiencing heavy industrialization and widespread unmet medical needs provide high growth opportunities. Manufacturers are shifting production bases to Asia in view of lower costs and high profit margins. Also, native players are entering the fray with innovative product launches. These factors will collectively propel the Asia Pacific CLIA market to record exponential growth over the forecast period.
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