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Chemiluminescence Immunoassay Market

Market Study for Chemiluminescence Immunoassay Market: Autoimmune disorder and diabetes to be the two prominent diseases that are expected to propel the market revenue

Chemiluminescence Immunoassay Market by Product Type (Instruments, Consumables, Software & Services)

Market Snapshot

Newly-released Chemiluminescence Immunoassay industry analysis report by Persistence Market Research shows that global sales of the Chemiluminescence Immunoassay market in 2021 were held at US$ 7.4 Bn. With a CAGR of 10.3% during 2022 - 2032, the market is projected to reach a valuation of US$ 22 Bn by 2032. Revenue through Chemiluminescence Immunoassay Consumables is expected to be the highest, which is expected to account for a CAGR of nearly 10.2% during 2022 – 2032.

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Details

Global Market Size (2022)

US$ 8.1 Bn

Global Market Size (2032)

US$ 21.6 Bn

Global Market CAGR (2022 - 2032)

10.3%

U.S. Market CAGR (2022 - 2032)

10%

Key Companies Profiled

  • DiaSorin S.p.A.
  • Abbott Laboratories
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Immunodiagnostic Systems
  • Siemens Healthineers
  • Beckman Coulter Inc.
  • F. Hoffmann-La Roche AG
  • Inova Diagnostics, Inc.
  • Maccura Biotechnology Co., Ltd.
  • Ortho Clinical Diagnostics
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Revenue of Chemiluminescence Immunoassay from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Chemiluminescence Immunoassay industry research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Chemiluminescence Immunoassay industry increased at around 8.7% CAGR, wherein, countries such as the U.S., UK, China, Japan, and South Korea held a significant share in the global market.

The autoimmune disorder, infectious diseases, diabetes, cardiovascular disease, obesity, and cancer are a few of the chronic health conditions for which chemiluminescence immunoassay solutions are frequently used. Chemiluminescence immunoassay is additionally utilized in pharmaceutical manufacturing and research centers for therapeutic medication monitoring.

The number of therapeutic tests that rely on Chemiluminescence Immunoassay Analyzers techniques is expected to grow because of technical improvements being made in illness detection, as well as the high demand for preventive diagnosis and monitoring treatment.

Because of this, the demand for high-throughput laboratories is growing. Moreover, aggressive scheduling technology is utilized by large-scale laboratories to overtake small and medium-scale laboratories by capitalizing on their limited quality and service capacities.

In areas around the world, major medical laboratories are increasing their businesses through mergers and acquisitions. As the laboratories consolidate, laboratory tests and volume grow, creating a boost in the adoption of automation and integration, thus propelling market growth.

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What factors are driving the growth of the Chemiluminescence Immunoassay Market?

Diagnostic technology is continuously evolving, and significant progress has been achieved in the identification of antibodies over the previous decade, bringing this type of diagnostic closer to that of an automated clinical chemistry laboratory. Because of technical developments in illness diagnosis, and an increase in the need for treatment monitoring, and preventative diagnosis, the number of tests incorporating chemiluminescence immunoassay analyzers procedures is expected to grow.

As a result, the demand for high-throughput facilities is growing. Furthermore, large-scale laboratories are using Chemiluminescence Immunoassay Analysers methods to take advantage of the service and quality limits faced by small and mid-volume laboratories in order to capture a larger share of the market.

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Regional Analysis

Which Region is projected to Offer the Largest Opportunity for Chemiluminescence Immunoassay?

During the forecast period, Asia Pacific is expected to grow at the fastest CAGR. One of the primary elements driving regional market expansion is a growing awareness of chronic diseases in emerging economies like China and India. Furthermore, the regional market is expected to develop due to the increasing approval of chemiluminescence immunoassay analyzer systems and the debut of novel chemiluminescence immunoassay analyzer systems by local companies.

At the China International Medical Equipment Fair in 2018, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., a Chinese medical equipment company, unveiled their new CL-6000i CLIA analyzer (CIMEF Spring 2018).

What is the scope of growth of the Chemiluminescence Immunoassay Market in North America?

North America is expected to be a strong player in the world the largest chemiluminescence immunoassay market in the forecast timeframe due to acquisitions made by market players. PerkinElmer, Inc. announced plans to purchase Immunodiagnostic Systems Holdings PLC, a manufacturer of in-vitro diagnostic tests.

PerkinElmer aspires for its commercial diagnostics business, particularly its immunodiagnostics section, to develop areas through this purchase. Additionally, PerkinElmer will benefit from its expertise and testing capabilities to incorporate IDS's chemiluminescence products in the areas of endocrinology, autoimmunity, and infectious diseases for customers across the world.

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Country-wise Analysis

U.S. Chemiluminescence Immunoassay Market

The market in the U.S. is projected to reach a valuation of US$ 7 Bn by 2032. Growing at a CAGR of 10% during 2022 – 2032, the market is expected to gross an absolute dollar opportunity of US$ 4.4 Bn.

U.K. Chemiluminescence Immunoassay Market

The market in U.K. is expected to garner US$ 917 Mn by 2032. During the forecast period, the market in the country is expected to gross an absolute dollar opportunity of US$ 583 Mn growing at a CAGR of 10.7% during 2022 – 2032.

Japan Chemiluminescence Immunoassay Market

In Japan, the market is expected to reach US$ 1 Bn by 2032. Growing at a CAGR of 12.9% during 2022 – 2032, the market is expected to garner an absolute dollar opportunity of US$ 703 Mn.

South Korea Chemiluminescence Immunoassay Market

The market in South Korea is projected to gross an absolute dollar opportunity of US$ 312 Mn during 2022 – 2032. By 2032, the market in the country is expected to reach US$ 481 Mn, growing at a CAGR of 11% during the forecast period.

Category-wise Insights

Which Product Type is expected to grow the fastest?

The consumables category dominated the market in 2020 and is expected to maintain its dominance with a CAGR of 10.2% over the forecast period. The growing demand for consumables such as reagents and stains in the fields of therapeutic medication monitoring, endocrinology, and disease diagnosis can be linked to this.

During the forecast period, the instruments segment is expected to increase significantly. It is further divided into automated and semi-automated instruments, with automated instruments capturing the majority of the market in 2020. The increased initiatives by leading players for the development and implementation of technologically improved chemiluminescence immunoassay systems are attributable to the instrument segment's rise.

In August 2017, Beckman Coulter, for example, released an improved version of the Access 2 immunoassay system. The new features are designed to boost workflow efficiency, ease of use, system dependability, and customer happiness.

Why is the market through Infectious Disease Application Projected to Remain the Largest Revenue Grossing Segment?

In 2021, the market through infectious disease application held the largest market share, accounting for over 25%. This is due to the advent of innovative Chemiluminescence Immunoassay for infectious disease diagnosis. For example, DiaSorin and its partner Qiagen released the novel LIAISON QuantiFERON-TB Gold Plus assay for the diagnosis of latent tuberculosis infection on the LIAISON analyzer in the CE market in September 2018.

Over the forecast period, the market through oncology application is expected to increase significantly. This increase can be ascribed to the high frequency of cancer in emerging nations, as well as increased knowledge about early detection. According to research published by the World Health Organization in September 2018, cancer is the world's second-largest cause of death. Cancer claimed the lives of around one in every six individuals worldwide in 2018, with an estimated 9.6 million people dying as a result of the disease. According to the same source, low and middle-income countries account for 70% of cancer-related deaths.

What are the insights about End-uses of Chemiluminescence Immunoassay market?

In 2021, the market revenue was dominated by hospitals as end-users. This is attributable to an increase in demand for Chemiluminescence Immunoassay solutions, as well as an increase in hospital visits as the prevalence of cancer and infectious diseases rises. Furthermore, increased hospitalization as a result of the coronavirus outbreak is projected to drive the demand for Chemiluminescence Immunoassay solutions in hospitals.

In 2021, the clinical laboratories segment accounted for a large portion of the market. The rise of this market can be due to clinical laboratories' cost-effective testing services. Furthermore, the segment's expansion is expected to be aided by an increase in strategic alliances between leading businesses and clinical laboratories. For example, Abbott Laboratories and North West London Pathology (NWLP) signed a US$ 252 Mn contract in August 2017 to deliver diagnostic equipment and consumables, including Abbott's Alinity ci-series diagnostics devices.

Competitive Analysis

The market for chemiluminescence immunoassays is moderately competitive. Some of the key players operating in the market include DiaSorin S.p.A., Abbott Laboratories, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Immunodiagnostic Systems, Siemens Healthineers, Beckman Coulter Inc., F. Hoffmann-La Roche AG, Inova Diagnostics, Inc., Maccura Biotechnology Co., Ltd., and Ortho Clinical Diagnostics.

Some of the recent developments of key players in the Chemiluminescence Immunoassay Market are as follows:

  • In June 2020, Abbott started shipping its laboratory-based serology blood test for the detection of the antibody IgG for COVID-19 identification. This enables the ICMR's COVID-19 antibody testing technique, which relies on IgG CLIA antibody assays. ?
  • In April 2020, Accelerate Diagnostics, Inc. and BioCheck, Inc. concluded a strategic distribution agreement for CLIA products. Accelerate will establish BioCheck's MS-FAST system, a fully automated CLIA analyzer, as well as BioCheck's SARS-CoV-2 assays for the detection of IgM and IgG antibodies, as part of the agreement.
  • In August 2020, the FDA granted DiaSorin's novel LIAISON SARS-CoV-2 S1/S2 IgG test an Emergency Use Authorization (EUA). For the diagnosis of COVID-19, this test uses CLIA technology.
  • In August 2019, Autobio introduced the Automatic B-1 series automatic biochemical immunization line device which offers medical laboratories a more versatile and efficient option. This introduction will aid Autobio's revenue growth in the next years.

Similarly, recent developments related to companies offering Chemiluminescence Immunoassay have been tracked by the team at Persistence Market Research, which are available in the full report.

Market Segments Covered in Chemiluminescence Immunoassay Industry Analysis

By Product Type

  • Instruments
    • Automated
    • Semi-automated
  • Consumables
  • Software & Services

By Application

  • Therapeutic Drug Monitoring
  • Oncology
  • Cardiology
  • Endocrinology
  • Infectious Disease
  • Autoimmune Disease
  • Other Applications

By End-use

  • Hospitals
  • Clinical Laboratories
  • Pharmaceutical & Biotechnology Companies
  • Other End-uses

By Region

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

- Companies Covered in This Report -

  • DiaSorin S.p.A.
  • Abbott Laboratories
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Immunodiagnostic Systems
  • Siemens Healthineers
  • Beckman Coulter Inc.
  • F. Hoffmann-La Roche AG
  • Inova Diagnostics, Inc.
  • Maccura Biotechnology Co., Ltd.
  • Ortho Clinical Diagnostics

- Frequently Asked Questions -

The global Chemiluminescence Immunoassay market is worth more than US$ 8.1 Bn at present.

The value of Chemiluminescence Immunoassay is projected to increase at a CAGR of around 10.3% during 2022 – 2032.

The value of Chemiluminescence Immunoassay increased at a CAGR of around 8.7% during 2017 – 2021.

Top 5 countries driving demand for Chemiluminescence Immunoassay are the U.S., U.K., China, Japan, and South Korea.

The Japanese market for Chemiluminescence Immunoassay is projected to expand at a CAGR of around 12.9% during 2022 – 2032.

While the market in South Korea is expected to grow at nearly 11%, the market in the UK is projected to register a CAGR of nearly 10.7% during 2022 - 2032.

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