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Automated Immunoassay Analyzers Market drivers of growth analyzed in a new research report

Author : Rahul Sankrityayan | Published Date : 2019-04-02 

Automated Immunoassay Analyzers Market size is set to exceed USD 25.0 billion by 2024; according to a new research study published by Global Market Insights, Inc. Immunoassay analyzers are being widely used in clinical applications in order to improve service and quality along with decreasing costs. It is most commonly used in clinical laboratories for automatic biochemical tests to diagnose concentration and presence of specific substances in the samples. Clinical labs generally prefer using fully automated systems for quick introduction of samples into the instrument for analysis and receive the test results at the end of the run. Growing applications of automated immunoassay analyzers.

Increase in prevalence of infectious diseases across the globe will drive the growth of automated immunoassay analyzer market. Infectious diseases are caused by pathogens and can be transmitted from person to person through direct or indirect contact. This reflects the impacts of ways of living, environmental and social changes coupled with demographic, social, and technological changes. Climate change also affect infectious disease occurrence. Hence, growing prevalence and number of people suffering from infectious diseases will boost the growth of automated immunoassay analyzers market in the upcoming years.

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Lack of trained professionals and skilled labor will be a major factor hampering the growth of automated immunoassay analyzers market in the forthcoming years. With the growing aging population across the world, there is an increased need for more health care professionals in healthcare facilities such as hospitals, diagnostics and reference laboratories. Hence, lack of trained health care professionals will be a key market impeding factor.

Immunofluorescence market held significant amount of market share and was valued over USD 1,909.9 million in the year 2017. Immunofluorescence assays are generally used to observe categorical proteins in cells that may be in culture, in specimen, in tissues, on microarrays and microbeads. The segment is estimated to show lucrative growth in the upcoming years due to constant introduction of new products as well as techniques for analyzers and laboratory instruments in developed countries.

The application of automated immunoassay analyzers in oncology segment will witness substantial growth at a CAGR of 16.5% during the projection period.  Growing cases of  different types of cancer, rising demand of targeted and biological drug therapies, patent expiry of major cancer drugs and the growing impact of biosimilars will be the major market driving factors. The approval and uptake of oncology products is set to burgeon, owing to growing awareness of their durable and long tumor responses.

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The use of automated immunoassay analyzers in research and academic laboratories was high and was valued around USD 1,541.1 million in the year 2017. The automated immunoassay analyzers are gaining popularity for its increase in use in research and academic laboratories due to its ability to adapt reagent with any clinical analyzer. Moreover, these analyzers use small sample size and low reagent volume as well as provide faster results, that is a prerequisite for research and academic laboratories that need to carry out research work in stipulated budgets. Growing applications of automated immunoassay analyzers in the field of research and academic laboratories will enhance the industry growth in near future.

U.S. automated immunoassay analyzers market is slated to witness considerable amount of growth at a CAGR of 14.7% over the forecast timeframe. The growing prevalence of infectious diseases in U.S. will contribute to the market growth. As of 2014, around 14.5 million American people are diagnosed with cancer and new cases are being diagnosed every day. Such a steep increase in the number of cancer patients is expected to drive the U.S. automated immunoassay analyzers market.

Japan dominated the Asia Pacific automated immunoassay analyzers market and was valued around USD 780.2 million in the year 2017. Increase in the geriatric population in last few years that is vulnerable to chronic diseases will boost the market growth in the country. Other favorable demographic trends such as augmented life expectancy will further drive the market in the forthcoming years.

Some of the key player in automated immunoassay analyzers market include Abbott Diagnostics, Biokit, Biomerieux, Luminex Corporation, Roche Diagnostics, and Siemens Healthcare. The company’s major strategy include launching of technologically advanced new and innovative products. Industry participants are also focusing on product portfolio expansion to suit the requirements of different laboratory settings in terms of test volumes, assay menu, automation level and budget to stay ahead of the competition.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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