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LONDON, GREATER LONDON, UK, August 14, 2024 /EINPresswire.com/ -- The immunodiagnostics market has demonstrated significant growth recently, with its size expanding from $21.3 billion in 2023 to $22.9 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.5%. It will grow to $30.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. Despite various global challenges, this growth trajectory is expected to continue, driven by the increasing incidence of infectious diseases, the rise in autoimmune disorders, advancements in cancer diagnosis and monitoring, and the globalization of health issues.
Rising Healthcare Expenditure Fuels Market Expansion
One of the primary drivers of the immunodiagnostics market is the rising healthcare expenditure, which supports the development and accessibility of diagnostic tools. In November 2022, the Canadian Institute for Health Information reported that healthcare expenditure in the U.S. rose by 0.8% to $331 billion in 2022, up from 7.6% in 2021. This increase underscores the growing investment in healthcare services, which is anticipated to propel the immunodiagnostics market forward.
Explore comprehensive insights into the immunodiagnostics market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=10093&type=smp
Key Players and Market Trends
Major companies operating in the immunodiagnostics market include Abbott Laboratories, Arkray Inc., bioMérieux Inc., and F. Hoffmann-La Roche Ltd., among others. These companies are focusing on technological advancements to maintain their competitive edge. For example, Cavidi AB launched Exazym, a signal-generating technology designed to enhance the sensitivity of conventional immunodiagnostic assays. This innovation aims to improve research, health screenings, and diagnostic testing by detecting biomarkers previously beyond reach.
Trends Shaping the Future
Several key trends are expected to shape the immunodiagnostics market in the coming years, including:
• Multiplexing Technologies: Enhancing diagnostic efficiency by allowing simultaneous detection of multiple biomarkers.
• Point-of-Care Testing (POCT): Increasing the accessibility and speed of diagnostic results.
• Biomarker Discovery and Personalized Medicine: Tailoring diagnostics to individual patient profiles.
• Digital Immunodiagnostics: Integrating digital technologies to improve diagnostic accuracy and data management.
• Shift Toward Liquid Biopsy: Offering less invasive alternatives for cancer detection and monitoring.
Market Segmentation
The immunodiagnostics market is segmented as follows:
1. By Product: Reagents and Consumables, Instruments, Software and Services
2. By Technology: Enzyme-Linked Immunosorbent Assay, Chemiluminescence Immunoassay, Fluorescent Immunoassay, Radioimmunoassay, Rapid Test, Other Technologies
3. By Application: Infectious Diseases, Oncology and Endocrinology, Bone and Mineral Diseases, Autoimmunity Disorders, Cardiac Biomarkers, Drug Monitoring, Other Applications
4. By End User: Hospitals, Clinics, Diagnostic Laboratories, Academic and Research Institutes, Other End Users
Regional Insights: North America Leading the Market
North America emerged as the largest region in the immunodiagnostics market in 2023 and is expected to continue leading the market. The comprehensive report provides in-depth analysis of regional dynamics, market trends, and growth opportunities.
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Immunodiagnostics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Immunodiagnostics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on immunodiagnostics market size, immunodiagnostics market drivers and trends, immunodiagnostics market major players, competitors' revenues, market positioning, and market growth across geographies. The immunodiagnostics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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