Chemiluminescence Immunoassay Market worth $19.0 billion | MarketsandMarkets

CHICAGO, July 5, 2023 /PRNewswire/ -- In the near future, the chemiluminescence immunoassay industry is set to witness remarkable advancements, revolutionizing diagnostics and research in various fields. With ongoing technological developments and innovations, chemiluminescence immunoassays will offer enhanced sensitivity, specificity, and multiplexing capabilities. This will enable faster and more accurate detection of biomarkers, infectious diseases, cancer markers, and other health-related conditions. The integration of automated systems and miniaturized platforms will further streamline the immunoassay process, making it more accessible and user-friendly. Moreover, the growing utilization of chemiluminescence immunoassays in point-of-care settings and decentralized testing will bring diagnostics closer to patients, improving healthcare outcomes and disease management. With its potential to detect analytes at low concentrations, provide rapid results, and exhibit broad dynamic ranges, the chemiluminescence immunoassay industry is poised to become an indispensable tool in clinical diagnostics, pharmaceutical research, and other scientific disciplines in the near future.    

Chemiluminescence Immunoassay Market in terms of revenue was estimated to be worth $13.2 billion in 2023 and is poised to reach $19.0 billion by 2028, growing at a CAGR of 7.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growth in the chemiluminescence immunoassay market is mainly driven by the growing prevalence of chronic diseases, Advancements in improving chemiluminescence immunoassay technologies in recent years, rising demand for point-of-care testing (POCT), growth of biotechnology and biopharmaceutical industries, and a rapid increase in geriatric population globally. In addition, emerging markets such as India and China are expected to offer growth opportunities for players operating in the chemiluminescence immunoassay market during the forecast period. However, the high cost of CLIA systems is restricting the growth of this market.

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Chemiluminescence Immunoassay Market Scope:

In 2022, the consumables segment held the largest share of the chemiluminescence market, by product segment

Based on product, the global chemiluminescence immunoassay market is categorized into consumables and instruments. The repetitive purchase of consumables such as reagents for every test is a major factor driving the growth of the segment. Besides the availability of efficient assays and reagents for diagnostic purposes has propelled its demand among end users.

In 2022, the infectious disease diagnostics segment held the largest share of the chemiluminescence market, by application segment

The chemiluminescence immunoassay market, by application, has been segmented into infectious diseases, endocrinology, oncology, bone & mineral disorders, cardiology, blood screening, autoimmune disorders, allergy diagnostics, toxicology, newborn screening, gastroenterology, neurology, respiratory, therapeutic drug monitoring, metabolic disorders, and other applications. The large share of this segment can be attributed to the development and introduction of advanced assays for the diagnosis of different diseases & conditions, and the increase in the population with infectious diseases.

North America dominates the global chemiluminescence immunoassay market

Based on the region, the chemiluminescence immunoassay market is segmented into North America, Europe, Asia Pacific, and Rest of the world. In 2022, North America accounted for the largest share of the chemiluminescence immunoassay market. The large share of North America in this market can be attributed to the increasing prevalence of infectious diseases and cancer and rising healthcare spending, which is highly developed in the US and Canada.

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Chemiluminescence Immunoassay Market Dynamics:

Drivers:

1.  Rising incidence of chronic and infectious diseases across the globe

Restraints:

1.  High cost of CLIA related products

Opportunities:

1.  Increasing number of collaborations and partnerships in the CLIA market

Challenges:

1.  Lack of skilled professionals and aging workforce

Key Market Players:

The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Siemens Healthineers AG (Germany), DiaSorin S.p.A. (Italy), Abbott Laboratories (US), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Sysmex Corporation (Japan), Diatron (Hungary), Getein Biotech, Inc. (China), Werfen (Spain), QuidelOrtho Corporation (US), EUROIMMUN (Germany), Merck KGaA (Germany), Tosoh Corporation (Japan), Trivitron Healthcare (India), Abnova Corporation (Taiwan), Elabscience (US), Maccura Biotechnology Co., Ltd. (China), Autobio Diagnostics Co., Ltd. (China), Jiangsu Zecen Biotech Co., Ltd (China), Rayto Life and Analytical Sciences Co., Ltd. (China), Daan Gene Co., Ltd. (China), DYNEX TECHNOLOGIES, Inc. (US), Zybio, Inc. (China), Wiener Laboratorios SAIC (Argentina), Tianjin Era Biology Technology Co., Ltd. (China).

Recent Developments:

• In May 2023, EUROIMMUN's parent company PerkinElmer's life science and diagnostics business segment, has been rebranded as Revvity.
• In December 2022, Mindray launched CLIA-based assays, IL-6, PCT, and sCD14-S, which have high sensitivity, a wide linearity range, great precision, and good anti-interference ability.
• In December 2022, Sysmex received manufacturing and marketing approval in Japan for the HISCL β-Amyloid 1-42 Assay Kit and the HISCL β-Amyloid 1-40 Assay Kit to measure amyloid beta (Aβ) in the blood.
• In November 2022 Getein Biotech, Inc. launched MAGICL 6000, a compact and innovative chemiluminescence immunoassay analyzer used in mid to high-workflow laboratories
• In June 2022, QuidelOrtho Corporation was formed through a transaction between Quidel Corporation and Ortho Clinical Diagnostics to form a leading in vitro diagnostics company.

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Chemiluminescence Immunoassay Market Advantages:

• Sensitivity and Specificity: Chemiluminescence immunoassays provide high sensitivity and specificity in detecting target molecules. The use of specific antibodies and the amplification of chemiluminescent signals result in low detection limits and minimal interference from background noise, ensuring accurate and reliable results.
• Wide Analyte Range: Chemiluminescence immunoassays can detect a diverse range of analytes, including proteins, hormones, tumor markers, infectious agents, and drugs. This versatility allows for comprehensive testing across various applications, including clinical diagnostics, pharmaceutical research, environmental monitoring, and food safety.
• Multiplexing Capabilities: Chemiluminescence immunoassays enable multiplexing, the simultaneous detection of multiple analytes in a single assay. This capability is particularly valuable in clinical diagnostics, where it allows for the efficient and cost-effective assessment of multiple biomarkers, aiding in disease diagnosis, prognosis, and treatment monitoring.
• Speed and Automation: Chemiluminescence immunoassays offer rapid results due to the short incubation times required for chemiluminescent reactions. Additionally, the integration of automated systems and robotic platforms streamlines the workflow, reducing manual handling and increasing throughput. This combination of speed and automation enhances laboratory efficiency and productivity.
• Long-Term Stability: Chemiluminescent reagents used in immunoassays generally exhibit excellent stability, allowing for longer shelf life and consistent performance over time. This stability contributes to cost savings and minimizes the need for frequent reagent replacements.
• Point-of-Care Applications: Chemiluminescence immunoassays are well-suited for point-of-care testing due to their rapid turnaround time, ease of use, and portability. This enables healthcare professionals to obtain timely diagnostic information at the patient's location, leading to improved patient management, treatment decisions, and disease control.
• Clinical Significance: Chemiluminescence immunoassays play a crucial role in clinical diagnostics by aiding in the early detection and monitoring of diseases. Their accuracy and reliability support clinicians in making informed decisions regarding patient care, contributing to improved health outcomes.
• Research Advancements: In the research field, chemiluminescence immunoassays provide valuable tools for studying biomarkers, elucidating disease mechanisms, and developing new therapeutics. Their high sensitivity and multiplexing capabilities enable researchers to explore complex biological processes, accelerating scientific discoveries and advancements.

Overall, the advantages of the chemiluminescence immunoassay market lie in its sensitivity, specificity, wide analyte range, multiplexing capabilities, speed, automation, stability, point-of-care applications, clinical significance, and impact on research. These advantages position chemiluminescence immunoassays as a prominent technology in diagnostics and research, with the potential to revolutionize healthcare and scientific understanding in the coming years.

High-Throughput Screening Market - Report Objectives:

• To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
• To define, describe, segment, and forecast the chemiluminescence immunoassay market by product, technology, sample type, application, end user, and region
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall chemiluminescence immunoassay market
• To forecast the size of the chemiluminescence immunoassay market in four main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific and Rest of the world
• To profile key players in the chemiluminescence immunoassay market and comprehensively analyze their core competencies and market shares
• To track and analyze competitive developments, such as product launches and approvals; expansions; collaborations, and agreements, & partnerships; of the leading players in the chemiluminescence immunoassay market
• To benchmark players within the chemiluminescence immunoassay market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy

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