Immunodiagnostics Market Growth to Hit 7.4% CAGR, Globally, by 2028 with USD 29.52 Bn by 2028 – The Insight Partners

NEW YORK, UNITED STATES, April 27, 2023 /EINPresswire.com/ -- Immunodiagnostics is a diagnostic methodology that primarily uses antigen-antibody reaction as its primary means of detection. Antibodies, specific for the desired antigen, can be conjugated with a radiolabel, fluorescent label, or color-forming enzyme and are used as a probe to detect it. The speed, accuracy, and simplicity of such tests have led to the development of rapid techniques for the diagnosis of diseases, microbes.

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Immunodiagnostics Market – Report Scope:
Market Size Value in - USD 17,948.62 Million in 2021
Market Size Value by - USD 29,526.72 Million by 2028
Growth rate - CAGR of 7.4% from 2022 to 2028
Forecast Period - 2022-2028
Base Year - 2021
No. of Pages - 271
No. of Tables - 166
No. of Charts & Figures - 99
Historical data available - Yes
Segments covered - Product, Clinical Indication, End User, and Geography
Regional scope - North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope - US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Increasing Prevalence of Infectious Diseases
The diagnosis and management of several ever-growing infectious diseases caused by infectious agents such as viruses, fungi, bacteria, parasites, or their toxic products are increasing the number of prescriptions for Immunodiagnostics tests, including complement fixation, precipitation tests, agglutination tests, line blot assays, western blot assays, enzyme immunoassays (EIA), and immunofluorescence tests.

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HIV continues to be a major public health issue worldwide. As per the Centers for Disease Control and Prevention (CDC), ~34,800 HIV infections were reported in the US in 2019. Moreover, hepatitis is another major factor driving the Immunodiagnostics market. For instance, according to the World Health Organization (WHO), approximately 58 million people worldwide are diagnosed with chronic hepatitis C infection, with 1.5 million new conditions occurring every year. Furthermore, ~3.2 million adolescents and children have this infection. The global hepatitis strategy of WHO, approved by all member states, aims at reducing new hepatitis infections by 90% and mortalities by 65% from 2016 to 2030. Such global initiatives are fueling the demand for Immunodiagnostics products.

The increasing applications of immunodiagnostic solutions encouraged the development of targeted treatments and therapies for precision health. The prominent market players are also propelling the use of assay technology and adopting microfluidics and magnetic beads. For immunoassays, magnetic particles, such as Sera-Mag beads, offer a convenient alternative to plate-based ELISAs, as both rely on the same assay principle. Merck KGaA launched the Magna Chip Protein A magnetic beads. This recombinant Protein A is covalently bound to magnetic beads for chromatin immunoprecipitations (Chip assays) and provides users with a rapid, reproducible, and efficient reagent for collecting immunocomplexes than agarose beads.

The increasing prevalence of infectious diseases and growing use of point-of-care immunodiagnostics drive the immunodiagnostics market growth. However, the complex nature of membrane separation is restricting the market growth.

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Sameer Joshi
The Insight Partners
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