Immunochemistry Diagnostic Devices And Equipment Global Market Report 2024

The immunochemistry diagnostic devices and equipment market size has grown strongly in recent years. It will grow from $17.84 billion in 2023 to $19.26 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The expansion observed in the historical period can be attributed to factors such as disease identification, advancements in healthcare, the adoption of point-of-care testing, and the monitoring of therapeutic interventions.

The immunochemistry diagnostic devices and equipment market size is expected to see strong growth in the next few years. It will grow to $25.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be linked to a range of factors, including the aging population, the development of companion diagnostics, the increasing adoption of telemedicine and remote monitoring, and ongoing efforts in biomarker discovery. Noteworthy trends expected during this period encompass the miniaturization and portability of diagnostic devices, the implementation of multiplex testing, the use of automated systems, and the integration of biosensors, driving advancements in immunochemistry.

The immunochemistry diagnostic devices and equipment market is being driven significantly by the increasing incidence of target diseases. The prevalence of diseases such as viral infections, cardiovascular conditions, cancer, and hormonal disorders is on the rise globally, primarily attributed to unhealthy lifestyle choices. For example, the American Heart Association reports that cardiovascular disease stands as the leading cause of worldwide mortality, accounting for more than 17.6 million annual deaths. This figure is projected to escalate to over 23.6 million by the year 2030.

Key product categories in immunochemistry encompass immunochemistry analyzers, immunochemistry stainers, incubators, microscopes, centrifuges, autoclaves, and various consumables. Centrifuges are machines that utilize centrifugal force to separate substances of differing densities, facilitating the removal of moisture or creating gravitational effects. Immunochemistry analyzers come in various types, including chemiluminescence immunoassay (CLIA) analyzers, immunofluorescence (IFA) analyzers, enzyme immunoassay (EIA) analyzers, radioimmunoassay (RIA) analyzers, enzyme-linked fluorescent assay (ELFA) systems, and multiplexed assay systems. Immunochemistry stainers are available in both automated and semi-automated configurations. Consumables for immunochemistry encompass antibodies, antigens, enzymes, reagents, stains, buffers, disposables, and other related items. These immunochemistry tools find applications across diverse fields such as endocrinology, oncology, cardiology, therapeutic drug development and monitoring, infectious disease testing, drug abuse testing, and more. They are utilized by a variety of end-users, including hospitals and clinics, diagnostic laboratories, research labs and institutes, biopharmaceutical and biotechnology companies, among others.

The immunochemistry diagnostic devices and equipment market research report is one of a series of new reports that provides immunochemistry diagnostic devices and equipment market statistics, including immunochemistry diagnostic devices and equipment industry global market size, regional shares, competitors with an immunochemistry diagnostic devices and equipment market share, detailed immunochemistry diagnostic devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the immunochemistry diagnostic devices and equipment industry. This immunochemistry diagnostic devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The immunochemistry market is experiencing growth due to the expanding demand for personalized medicine. Personalized medicine is an approach to healthcare that tailors medical decisions and treatment strategies based on an individual's unique genetic, genomic, and clinical characteristics, with the goal of optimizing patient outcomes and minimizing adverse effects. To support personalized medicine, advanced immunochemistry assays are required to identify specific biomarkers and guide individualized treatment approaches. Notably, in 2022, The Personalized Medicine Coalition (PMC) reported the approval of five new cell and gene therapies by the FDA. Consequently, the increasing demand for personalized medicine is a driving force behind the growth of the immunochemistry market.

The stringent regulatory policies governing the approval of immunoassay instruments and consumables present a significant challenge for the immunochemistry diagnostic devices and equipment market. Manufacturers of immunochemistry devices and equipment are obligated to obtain multiple and separate clearances from the Food and Drug Administration (FDA) for product launches. The entire regulatory approval process is time-consuming, with a minimum of approximately 18-30 months required for class III devices and around 6-9 months for class II devices.

major companies in the immunochemistry diagnostic devices and equipment market are increasingly investing in automated immunoassay systems. Automation has enhanced the capabilities of diagnostic devices, allowing them to process larger volumes of patient specimens. Furthermore, the development of integrated clinical chemistry systems has greatly improved the efficiency of clinical chemistry laboratory testing during the analytical phase, leading to further automation. For instance, Boditech Med Inc.'s ichroma-50 is an automatic immunoassay analyzer that swiftly measures analyte concentrations in body fluids, reducing labor costs and human errors in the process.

Major companies operating in the immunochemistry market are striving to maintain a competitive edge by developing innovative products, including multiplex assays. Multiplex assays are laboratory techniques that enable the simultaneous measurement and analysis of multiple analytes within a single biological sample, offering a comprehensive and efficient means of studying multiple factors or biomarkers in a single experiment. For example, in June 2023, Navigate BioPharma Services, Inc., a biotechnology company based in the United States, introduced new multiplex digital PCR assays designed for precise quantification of chimeric antigen receptor (CAR) T cells, a revolutionary cancer immunotherapy. These assays, based on the Qiagen QIAcuity digital PCR System, allow for the simultaneous measurement of CAR-T cell number, function, and persistence in clinical blood and bone marrow samples, without the need for standard curves. They can detect CAR-T cells at levels as low as 0.01%, providing clinicians with a sensitive, specific, and efficient tool for monitoring responses and safety during clinical trials, thereby facilitating the advancement of CAR-T therapies.

Major companies operating in the immunochemistry diagnostic devices and equipment market include Abbott Diagnostics, Roche Diagnostics, Siemens Healthcare Diagnostics, Diamond Diagnostics Inc., Dynex Technologies Inc., Grifols S.A., Hycor Biomedical LLC, Immunodiagnostic Systems, Inova Diagnostics, LabCorp, Mindray Medical International Limited, Ortho Clinical Diagnostics, Quest Diagnostics, Randox Laboratories, Sysmex Corporation, ThermoFisher Scientific Inc., Tosoh Bioscience, Danaher Corporation, Johnson & Johnson, Boditech Med Inc., Beckman Coulter Inc., Bio-Rad Laboratories, bioMérieux Clinical Diagnostics, Carolina Liquid Chemistries Corporate, DiaSorin Inc., Agilent Technologies Inc., Merck KGAA, Eagle Biosciences Inc., Biocare Medical LLC, Elabscience Biotechnology Inc., Bio-Genex Laboratories Inc., Diagnostic Biosystem, Histo-Line Laboratories, Rockland Immunochemicals Inc., Abcam plc, Becton Dickinson & Company, Cell Signaling Technology Inc., ImmunoChemistry Technologies LLC, Genemed Biotechnologies Inc., Miltenyi Biotec GmbH, PerkinElmer Inc., Takara Bio. Inc, Immucor Inc., Quidel Corporation

North America was the largest region in the global immunochemistry diagnostic devices and equipment market in 2023. Asia-Pacific was the second-largest region in the immunochemistry diagnostic devices and equipment market. The regions covered in the immunochemistry diagnostic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the immunochemistry diagnostic devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The immunochemistry diagnostic devices and equipment market consists of sales of chemiluminescence immunoassay (CLIA) analyzers, immunofluorescence (IFA) analyzers, enzyme immunoassay (EIA) analyzers, radioimmunoassay (RIA) analyzers, enzyme-linked fluorescent assay (ELFA) systems, and multiplexed assay systems that are used in immunochemistry diagnostics. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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