North America Immunoassay Reagents and Devices Market – Industry Trends and Forecast to 2028

Market Analysis and Insights: North America Immunoassay Reagents and Devices Market

The immunoassay reagents and devices market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.7% in the forecast period of 2021 to 2028 and is expected to reach USD 10,178.81 million by 2028. Rising prevalence of diseases, which need technologically advanced products for diagnosis to avoid misinterpretation, is expected to fuel the growth of the immunoassay reagents and devices market in the forecast period.

Immunoassays are the tests that are performed to detect specified molecules in laboratories. It basically depends upon the antibody's integral ability to attach to the particular structure of the molecule (antigen) that is present in the sample. Antibodies are produced within the body in response to presence of antigen in the body.

Emergence in COVID-19 pandemic has led to the manufacturing of rapid diagnostic tests (RDTs) which uses immunoassay techniques are expected to act as a driver for the growth of immunoassay reagents and devices market. Product recalling has a negative impact as manufacturers invest a significant amount of money in order to replace or repair defective products which in turn, results in a decline in revenue generation. So it could be a major restraint to the immunoassay reagents and devices market in the forecast period. Increase in research and development in the immunoassay reagents and devices in order to provide enhanced or new products in the market is expected to create a window of opportunity for the growth of immunoassay reagents and devices market in the forecast period. Presence of liquid chromatography-mass spectrometry technology as an alternative method to immunoassay for detecting of biomolecules is expected to act as a challenge for the growth of the immunoassay reagents and devices market.

The immunoassay reagents and devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the immunoassay reagents and devices market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

Immunoassay Reagents and Devices Market Scope and Market Size

The immunoassay reagents and devices market is segmented based on the product, platform, technique, specimen type, application and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• On the basis of product, the immunoassay reagents and devices market is segmented into reagents & kits and analyzers. In 2021, reagents & kits segment is dominating due to its higher usage in drug development as well as in disease detection.
• On the basis of platform, the immunoassay reagents and devices market is segmented into chemiluminescence immunoassays, fluorescence immunoassays, enzyme immunoassay, radioimmunoassays and others. In 2021, enzyme immunoassay segment is dominating the market because of its advantages such as ease in performing tests, accurate result and many others.
• On the basis of technique, the immunoassay reagents and devices market is segmented into enzyme-linked immunosorbent assays, rapid tests, enzyme-linked immunospot, western blotting, immuno-PCR and other techniques. In 2021, enzyme-linked immunosorbent assays segment is dominating because it is highly sensitive, simple to perform, offer accurate result for any disease detection or in any drug development.
• On the basis of specimen type, the immunoassay reagents and devices market is segmented into saliva, urine, blood and others. In 2021, blood segment is dominating the market because antigen can be easily detected from the blood.
• On the basis of application, the immunoassay reagents and devices market is segmented into infectious diseases, oncology and endocrinology, bone & mineral disorders, cardiology, hematology & blood screening, autoimmune disorders, toxicology, neonatal screening and other applications. In 2021, oncology and endocrinology segment is dominating because of high incidence rate worldwide which can be detected easily with the use of immunoassays.
• On the basis of end user, the immunoassay reagents and devices market is segmented into hospitals, clinical laboratories, pharmaceutical and biotechnology companies, blood banks, research & academic laboratories and others. In 2021, pharmaceutical and biotechnology companies segment is dominating the market because of high usage of immunoassays for the drug development.

North America Immunoassay Reagents and Devices Market Country Level Analysis

North America immunoassay reagents and devices market is analyzed and market size information is provided by the country, product, platform, technique, specimen type, application and end user as referenced above.

The countries covered in the North America immunoassay reagents and devices market report are the U.S., Canada and Mexico.

The platform segment in the U.S. is dominating the North America immunoassay reagents and devices market owing to increasing preference of many biotechnology and pharma industries for the detection and drug development. While, Canada is dominating due to increased research and development to provide enhanced products.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.

Growing Strategic Activities by Major Market Players to enhance the Awareness for Immunoassay Reagents and Devices is boosting the Immunoassay Reagents and Devices Market

The immunoassay reagents and devices market also provides you with detailed immunoassay reagents and devices market analysis for every country growth in immunoassay reagents and devices market. Additionally, it provides the detailed information regarding the immunoassay reagents and devices market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2019.

Competitive Landscape and Immunoassay Reagents and Devices Market Share Analysis

The immunoassay reagents and devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America immunoassay reagents and devices market.

The major companies dealing in the North America immunoassay reagents and devices market report are F. Hoffmann-La Roche Ltd, Siemens, Randox Laboratories Ltd., Abbott, Bio-Rad Laboratories, Inc., Merck KGaA, Beckman Coulter, Inc. (a subsidiary of Danaher), Sysmex Corporation, bioMérieux SA, Thermo Fisher Scientific, Inc., BD, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., DiaSorin S.p.A, Ortho Clinical Diagnostics, QIAGEN, Quidel Corporation, BioCheck, Inc., Bio-Techne, PerkinElmer Inc., Agilent Technologies, Inc., Luminex Corporation, MESO SCALE DIAGNOSTICS, LLC among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many contract, agreement and launches are also initiated by the companies’ worldwide which are also accelerating the immunoassay reagents and devices market.

For instance,

• In July 2020, Bio-Rad Laboratories, Inc., a global leader of life science research and clinical diagnostic products, announced that the company is launching a blood-based immunoassay kit to identify antibodies to the coronavirus SARS-CoV-2, the virus associated with COVID-19. Preliminary performance of the assay has been established and the kit is now undergoing clinical evaluation in several hospitals to further confirm clinical performance. Initial data collected on more than 700 samples has demonstrated specificity above 99 percent.

Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company footprints in the immunoassay reagents and devices market which also provides the benefit for organization’s profit growth.

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