The global Chemiluminescence Immunoassay Market is estimated to be valued at US$ 7.01 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Chemiluminescence immunoassay uses the process of chemiluminescence to quantify the concentration of antibodies or antigens in a sample. It is widely used for clinical diagnostic applications owing to the advantages of higher sensitivity and lower detection limits as compared to other immunoassays.
Market key trends:
The chemiluminescence immunoassay market is driven by the increasing demand for early disease diagnosis and growing geriatric population. Rising prevalence of chronic and infectious diseases is prompting healthcare providers to adopt latest diagnostic tools for quick detection. Moreover, development of fully-automated chemiluminescence immunoassay analyzers integrated with robotic sample handlers and analyzers is accelerating the market growth. Automation helps in reducing errors, improving workflow efficiency, and handling high sample volumes.
SWOT Analysis
Strength: The chemiluminescence immunoassay market utilizes a more sensitive method of detection compared to traditional techniques, allowing for lower detection limits. It has wider dynamic range of concentrations that can be measured in a single run compared to alternative technologies.
Weakness: Chemiluminescence immunoassays require more sophisticated instrumentation and technical expertise compared to traditional immunoassays. The assays and reagents can be more expensive than alternative methods.
Opportunity: Growing demand for automated immunoassay platforms due to increasing workload of clinical laboratories. Point-of-care testing opportunities in alternate care settings.
Threats: Stringent regulatory processes increase barriers to entry. Alternative technologies like chemiluminescence resonance energy transfer may gain ground.
Key Takeaways
The Global Chemiluminescence Immunoassay Market Demand is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing burden of chronic and infectious diseases worldwide. Clinicians are relying more on automated CLIA systems to meet growing test volumes and turnaround times.
North America currently dominates the market and is expected to continue its dominance over the forecast period. This can be attributed to well-established healthcare systems, rising geriatric population susceptible to chronic diseases. Asia Pacific is anticipated to witness the fastest growth rate owing to growing medical tourism industry and healthcare infrastructure development in major countries like China and India.
Key players operating in the chemiluminescence immunoassay market are DiaSorin S.p.A., Abbott Laboratories, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers, Beckman Coulter Inc., F. Hoffmann-La Roche AG, Inova Diagnostics, Inc., Maccura Biotechnology Co., Ltd., Tosoh Corporation, and Ortho Clinical Diagnostic. These players are focusing on new product launches and geographic expansion to gain market share.
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