(MENAFN- GlobeNewsWire - Nasdaq) Increase in prevalence of chronic diseases, rise in technological advancements, and rise in geriatric population are the major factors which drive the global market growth.Wilmington, Delaware, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Automatic Immunoassay Analyzer Market by Product (Immunofluorescence, Chemiluminescence, Enzyme Linked Fluorescent System and Others), by Application ( Infectious Diseases, Endocrinology, Drug Monitoring, Chronic Diseases, Allergy Testing and Others), and End User (Hospitals, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033" . According to the report, the automatic immunoassay analyzer market was valued at $12.3 billion in 2023, and is estimated to reach $51.4 billion by 2033, growing at a CAGR of 15.3% from 2024 to 2033.
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Prime determinants of growth
Increase in prevalence of chronic diseases, rise in technological advancements, and rise in geriatric population are the major factors that drive the growth of the automatic immunoassay analyzer market growth. However, limited availability of skilled personnel poses a significant restraint on the growth of the automatic immunoassay analyzer market. Moreover, growth opportunities in emerging markets offer remunerative opportunities for the expansion of the global automatic immunoassay analyzer market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $12.3 billion |
| Market Size in 2033 | $51.4 billion |
| CAGR | 15.3% |
| No. of Pages in Report | 228 |
| Segments Covered | Product, Application, End User, and Region. |
| Drivers | Increase in prevalence of chronic diseases Rise in technological advancements Rise in geriatric population |
| Opportunity | Growth opportunities in emerging markets |
| Restraint |
Limited availability of skilled personnel |
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Segment Highlights
Rise in adoption of chemiluminescence segment
By product, the chemiluminescence segment is driven by its ability to offer highly sensitive and specific detection of analytes. This technology utilizes light emission from chemical reactions to quantify biomolecules, making it ideal for applications requiring precise measurement of low-concentration substances in complex biological samples. Chemiluminescence-based analyzers provide advantages such as wide dynamic range, rapid assay turnaround times, and automation capabilities, which streamline laboratory workflows. These attributes are particularly valuable in clinical diagnostics, pharmaceutical research, and biotechnology, where accurate and efficient analysis of biomarkers is essential. As a result, the chemiluminescence segment is witnessing increasing adoption and is poised to contribute significantly to the growth of the segment.
Increase in demand for automatic immunoassay analyzer technology in infectious diseases
By application, the infectious diseases segment had a significant market share in 2023. This is attributed to the rise in prevalence of infectious diseases. In addition, growing awareness of infectious diseases and the importance of early diagnosis have led to an increased demand for advanced diagnostic technologies which further support the segment growth.
Rise in adoption of automatic immunoassay analyzer in pharmaceutical and biotechnology companies
By end user, the pharmaceutical and biotechnology companies segment is poised for significant growth in the automatic immunoassay analyzer market due to its increasing demand for advanced diagnostic tools and technologies. These companies require accurate and efficient diagnostic solutions to support their research and development efforts, drug discovery processes, and clinical trials. Automatic immunoassay analyzers provide reliable and rapid results, which are crucial for pharmaceutical and biotechnology companies in ensuring the safety and efficacy of their products. In addition, the automation capabilities of these analyzers help streamline workflow and reduce human error, contributing to improved operational efficiency and cost-effectiveness in laboratory settings. Thus, the pharmaceutical and biotechnology companies segment is expected to drive substantial growth in the automatic immunoassay analyzer market.
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Regional Outlook
North America to dominate by 2033
North America is poised to lead the growth in the automated analyzer market due to high healthcare infrastructure, high healthcare spending, and a strong emphasis on technological advancements. Rising prevalence of chronic diseases, such as diabetes and cardiovascular disorders, drives demand for automated analyzers for efficient diagnostic solutions. In addition, the presence of leading healthcare and pharmaceutical companies fosters innovation and adoption of advanced medical technologies which further supports the market growth.
Key Players
Meril Life Sciences Pvt. Ltd.
Carolina Liquid Chemistries
Becton Dickinson and Company,
Bio-Rad Laboratories, Inc
The report provides a detailed analysis of these key players in the global automatic immunoassay analyzer market. These players have adopted different strategies such as product approval, product approvals, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Automatic Immunoassay Analyzer Industry
In July 2023, Beckman Coulter Diagnostics received FDA clearance for the DxC 500 AU Chemistry Analyzer, expanding its clinical chemistry offerings. It is designed for small-to-medium-sized labs. This automated analyzer optimizes workflows and supports critical clinical decisions, showcasing the company's commitment to innovation in in vitro diagnostics.
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