Chemiluminescence Immunoassay Market Size valued at USD 6.63 billion in 2020 | Growth Market Reports

Posted May 5, 2022 by sararaposo9

The global chemiluminescence immunoassay market size was valued at USD 6.63 billion in 2020 and is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028.
The global chemiluminescence immunoassay market size was valued at USD 6.63 billion in 2020 and is projected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the introduction of the technological advancement of chemiluminescence immunoassay systems along with the superior occurrence of chronic diseases.

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Chemiluminescence immunoassay (CLIA) involves a testing procedure that combines the chemiluminescence technique with the immunochemical reactions. It mainly involves the emission of radiation to produce light by using electromagnetic means. Owing to its wide applications, CLIA as a main testing technique is widely adopted in various fields such as life sciences, environmental monitoring, pharmaceutical analysis, clinical diagnosis, and food safety.

With reference to the difference of chemistry mechanism, CLIA follows three label systems such as direct involvement on light emission reaction, enzyme catalyzed reaction, and redox mediated reaction. In a direct involvement, photons will be exposed when the present chemicals reach ground state from excited state.

Market Trends, Drivers, Restraints, and Opportunities
• The major driver for the chemiluminescence immunoassay market is the increasing awareness by the pharmaceutical companies about the importance of early diagnosis and drug discovery.
• The key players in the market have started focusing on technologically advanced solutions with respect to the chemiluminescence immunoassay. The solutions produced by these companies can also act as a major driver to the market.
• Expensive in the setup for the chemiluminescence immunoassay and lack of feasible healthcare infrastructures in emerging economies such as India, South Africa, and Brazil are key challenges that can restrain the market growth.
• Massive R&D studies have found new methodologies to prevent the widespread of the coronavirus using chemiluminescence immunoassay. This is expected to create several opportunities for the market expansion.

Global Chemiluminescence Immunoassay Market Segment Insights

Consumables segment dominated the market
On the basis of products, the chemiluminescence immunoassay market is segmented into instruments, consumables, and software & services. The instruments segment is further bifurcated into automated and semi-automated. The consumables segment held over 75.7% of the global market in 2020 and is anticipated to constitute a high market share expanding at 7.5% CAGR during the forecast period.

Infectious disease segment to account for a large market share
Based on application areas, the market is divided into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease, autoimmune disease, and others. The infectious disease segment represented a revenue share of over 20.3% of the market in 2020 and is projected to account for a large market share in the coming years. The segment growth can be attributed to the rapid establishment of novel chemiluminescence

Immunoassay required for the study of infectious diseases.
On the other hand, the oncology segment is anticipated to exhibit a large CAGR during the forecast period owing to the rising demand for diagnosis due to rising prevalence of fatal illness such as cancer, tumors, and now the COVID-19. Moreover, vast oncology studies and research activities conducted by various promising players for finding treatments and cures is a key driver for the segment growth.

Hospitals segment is anticipated to represent a large revenue share
Based on the end-users, the chemiluminescence immunoassay market is divided into hospitals, clinic laboratories, pharmaceutical & biotechnology companies and others. Of these segments, the hospitals segment is anticipated to register a large share, expanding at a substantial CAGR during the forecast period due to the rising demand of chemiluminescence immunoassay solutions required in hospitals.

North America to hold a large market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in terms of revenue in 2020 and is projected to hold a large market share in the coming years. Exiting advanced healthcare infrastructure, technological superiority, increasing prevalence of chronic diseases, and the high adaption of chemiluminescence immunoassay solutions are some of the key factors driving the regional market growth. Additionally, the presence of key global players in the region especially in the US acts as key driver for the market expansion in North America. Most of the major regional companies in this market are Beckman Coulter Inc, Roche, Abbott Laboratories, or DiaSorin S.p.A.

Compititive Landscape
Some of the key players competing in the chemiluminescence immunoassay market are 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. The emerging players, on the other hand, have started implementing growth strategies such as partnerships and collaborations to achieve a competitive edge with respect to other key players. For instance, in April 2020, two US-based companies Accelerate Diagnostic and BioCheck have entered into a strategic partnership for the distribution of chemiluminescence immunoassay solutions, which are proven to be more efficient than some of the competitive products in this market.

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Tags chemiluminescence immunoassay market , chemiluminescence immunoassay market cagr , chemiluminescence immunoassay market share , chemiluminescence immunoassay market size
Last Updated May 5, 2022