Immunoprotein Diagnostic Testing Market Overview:
Global Immunoprotein Diagnostic Testing Market was valued at $16,485 million in 2016 and is expected to garner $27,290 million by 2022, registering a CAGR of 7.4% during the forecast period 2017 - 2023. Immunoproteins are the proteins used as a target for immunological probes or therapies. Immunoprotein diagnostic testing is the procedure of diagnosing the level of immunoproteins in the body for the analysis of diseases related to specific protein such as immunoglobulin, pre-albumin, and others.
The key factors that drive the growth of immunoprotein diagnostic testing market include rise in incidence & prevalence of diseases such as cancer, cardiovascular diseases, infectious diseases, and others. In addition, the rise in healthcare expenditure and healthcare insurance are expected to fuel the market growth during the analysis period. However, shortage of experienced healthcare professionals and lack of awareness among the population restrict the growth.
Immunoprotein Diagnostic Testing Market Segmentation
Based on technology, the global immunoprotein diagnostic testing market is categorized into radioimmunoassay, immunoturbidity assay, chemiluminescence assay, immunoprotein electrophoresis, enzyme-based immunoassay, immunofluorescence assay, and other technologies. Enzyme-based immunoassay held the highest market share and chemiluminescence is expected to grow with the highest growth rate during the forecast period. The growth of the enzyme-based immunoassay market is fueled by the expanding use of immunoassays in cancer, POC IVD testing, infectious disease testing, therapeutic drug level monitoring, and the introduction of novel biomarkers. Advantages of ELISA, such as long shelf life and ease of use, have increased their acceptance among academic and industrial sectors. Based on type, immunoglobulin diagnostic tests dominated the market in 2016 owing to the high usage of immunoglobulin diagnostic tests for protein level analysis. By application, infectious disease testing captured the highest market share in 2016, owing to the high incidence of infectious disease.
Top Investment Pocket
Geographically, the global immunoprotein diagnostic testing market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, rise in prevalence of different types of diseases such as cancer & infectious diseases, and rise in government investments for development of better healthcare facilities and R&D. Asia-Pacific is expected to emerge as the area with maximum growth potential due to focus of key players in the emerging economies and improving healthcare infrastructure.
Mexico Immunoprotein Diagnostic Testing Market ($Million), 2016-2023
Increase in Geriatric Population and Surge in Incidence and Prevalence of Chronic Diseases
The geriatric population has significantly grown in the past few years. They are vulnerable to various chronic diseases such as cardiovascular diseases, cancer, type 2 diabetes, obesity, and arthritis. For instance, according to the estimates of American Heart Association (AHA), in 2016, approximately 17.3 million deaths per year resulted due to cardiovascular diseases, and are expected to be more than 23.6 million by 2030. Similarly, according to the report of World Health Organization (WHO) in 2017, cancer is the second leading cause of deaths worldwide. It accounted for 8.8 million deaths in 2015, and approximately 70% of deaths in low- and middle-income countries. Therefore, rise in prevalence of chronic diseases is expected to fuel the demand for diagnostic testing; thereby, driving the global immunoprotein diagnostics testing market.
Complex Regulatory Framework
Complexity in regulatory frameworks is expected to hamper the market growth. The introduction of novel technology in the market is affected by factors such as time-consuming approvals, high cost of review, and cumbersome maintenance. The results provided by immunoprotein diagnostic tests are used to determine the treatment module of patients; hence, accuracy and efficiency of these tests are of prime importance for appropriate diagnosis. The need for new regulatory policies is prevalent for resolving issues in the current system. In Europe, the IVD is currently regulated by “In Vitro Diagnostic Medical Devices Directive (Directive 98/79/EC).” This regulatory body has not implemented effective regulatory norms and new technology requirements in the IVD market.
Key Market Benefits:
- The study provides an in-depth analysis of the immunoprotein diagnostic testing market with current trends and future estimations to elucidate the imminent investment pockets
- The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders capitalize on prevailing market opportunities
- Extensive analysis by technology and application helps understand various trends and prevailing opportunities in the respective market
- Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which predict the competitive outlook of the market
Immunoprotein Diagnostic Testing Market Key Segment:
- Immunoturbidity Assay
- Chemiluminescence Assay
- Immunoprotein Electrophoresis
- Enzyme-Based Immunoassay
- Immunofluorescence Assay
- C-reactive Protein Diagnostic Test
- Complement System Protein Diagnostic Test
- Prealbumin Diagnostic Test
- Haptoglobin Diagnostic Test
- Immunoglobulin Diagnostic Test
- Free Light Chain Diagnostic Test
- Autoimmune Testing
- Infectious Disease Testing
- Allergy Testing
- Endocrine Testing
- Oncology Testing
- Toxicology Testing
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Major companies operating in this market adopt product launch as their key development strategy. Companies profiled in this market include, Abbott Laboratories, Abcam PLC, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Enzo Life Sciences, Ortho Clinical Diagnostics, Roche Diagnostics, Siemens Healthcare, and Thermo Fisher Scientific.
The other players (the profiles of these players are not covered in the report) in the value chain include Affymetrix, Alere, bioMérieux, ORGENTEC Diagnostika, Sekisui Diagnostics, IBL International, ImmunoDX, Quidel Corporation, Trinity Biotech, and others.