Immunodiagnostics Global Market Report 2024

The immunodiagnostics market has grown strongly in recent years. It will grow from $21.3 billion in 2023 to $22.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed in the historical period can be attributed to the increasing incidence of infectious diseases, the rise in autoimmune diseases, the diagnosis and monitoring of cancer, the globalization of infectious diseases, and the implementation of public health initiatives and screening programs.

The immunodiagnostics market is expected to see strong growth in the next few years. It will grow to $30.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be attributed to preparedness and response to pandemics, advancements in personalized medicine and biomarker discovery, the expansion of healthcare infrastructure in emerging markets, integration with laboratory information systems, and the increasing burden of chronic diseases. Key trends expected in the forecast period involve the adoption of multiplexing technologies, the emergence of point-of-care testing (POCT), advancements in biomarker discovery and personalized medicine, the rise of digital immunodiagnostics, and a shift towards liquid biopsy.

The anticipated increase in the prevalence of infectious diseases is poised to drive the growth of the immunodiagnostics market in the foreseeable future. Infectious diseases, characterized by the transmission of germs such as viruses, bacteria, fungi, or parasites among individuals, can be identified using immunodiagnostic assays that detect the presence of viruses in blood samples. The immunodiagnostics market is expected to benefit significantly from this trend. For example, a report by the Australian Institute of Health and Welfare in July 2022 revealed over 471,000 reported COVID-19 cases in Australia in 2021, along with approximately 86,000 cases of chlamydia and a rise to 37,000 cases of campylobacter, a gastrointestinal illness. Thus, the increasing prevalence of infectious diseases is a major driver for the growth of the immunodiagnostics market.

The upward trajectory in healthcare expenditure is foreseen to contribute to the expansion of the immunodiagnostics market. Healthcare expenditure, reflecting the total spending on healthcare-related goods and services within a healthcare system or economy, plays a pivotal role in supporting the development and accessibility of immunodiagnostics. In November 2022, the Canadian Institute for Health Information reported a 0.8% increase in healthcare expenditure to $331 billion in 2022, following a 7.6% rise in 2021. This surge in healthcare expenditure is instrumental in propelling the growth of the immunodiagnostics market.

Technological advancement emerges as a prominent trend in the immunodiagnostics market, with major companies focusing on the development of innovative technologies to maintain their market position. Cavidi AB, a Sweden-based developer of viral load solutions, introduced Exazym in May 2021. This signal-generating technology enhances the sensitivity of conventional immunodiagnostic assays, allowing for ultra-sensitive detection levels. Cavidi Exazym is poised to enhance research, health screenings, and diagnostic testing, enabling the detection of biomarkers beyond the capabilities of existing diagnostic techniques.

Major companies in the immunodiagnostics market are increasingly forming partnerships to drive revenues. Collaborations involving medical experts, academic entities, and IT firms can significantly contribute to market expansion by fostering innovation and accelerating clinical immunodiagnostics. For example, in October 2022, Telix Pharmaceuticals Limited, an Australia-based radiopharmaceutical company, partnered with GE Healthcare, a US-based medical technology company, to combine Telix's investigational PET imaging radiotracers with GE Healthcare's immuno-diagnostic range. This collaboration aims to improve therapy selection and patient monitoring in immunotherapy trials.

In July 2021, DiaSorin S.p.A., an Italy-based biotechnology company, acquired Luminex Corporation for $1.8 billion. This strategic move granted DiaSorin access to Luminex's multiplexing technology and expanded its portfolio, reinforcing its position in the United States. Luminex Corporation, based in the US, is known for developing, manufacturing, and selling proprietary biological testing technologies and products across life sciences, transplant research, and immunodiagnostics.

Major companies operating in the immunodiagnostics market report are Abbott Laboratories, Arkray Inc., bioMérieux Inc., Immunodiagnostic Systems Holdings Plc (IDS), Bio-Rad Laboratories Inc., DiaSorin S.p.A., F. Hoffmann-La Roche Ltd., Johnson & Johnson Services Inc., Siemens AG, Sysmex Corporation, Thermo Fisher Scientific Inc., Danaher Corporation, Qiagen N.V., Tecan Trading AG, PerkinElmer Inc., Merck KGaA, Becton Dickinson and Company, Grifols S.A., Ortho Clinical Diagnostics, Beckman Coulter Inc., Bio-Techne Corporation, Creative Diagnostics, Fujirebio Holdings Inc., Gold Standard Diagnostics Corp., Hologic Inc., Luminex Corporation, Myriad Genetics Inc., Natera Inc., OraSure Technologies Inc., Quidel Corporation.

North America was the largest region in the immunodiagnostics market in 2023. The regions covered in the immunodiagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the immunodiagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The principal products in the field of immunodiagnostics include reagents and consumables, instruments and software, and services. Reagents are substances used to initiate chemical reactions with other substances to detect the presence of specific substances, while consumables refer to traceable items utilized in the execution of analysis techniques. The technologies involved encompass enzyme-linked immunosorbent assay, chemiluminescence immunoassay, fluorescent immunoassay, radioimmunoassay, rapid tests, and others. These technologies find applications in various medical fields such as infectious diseases, oncology, endocrinology, bone and mineral diseases, autoimmunity disorders, cardiac biomarkers, drug monitoring, and more. The end-users of immunodiagnostics include hospitals, clinics, diagnostic laboratories, academic and research institutes, among others.

The immunodiagnostics market research report provides immunodiagnostics market statistics, including immunodiagnostics industry global market size, regional shares, competitors with immunodiagnostics market share, detailed immunodiagnostics market segments, market trends, and opportunities, and any further data you may need to thrive in the immunodiagnostics industry. This immunodiagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The immunodiagnostics market consists of revenues earned by entities by providing agglutination, nephelometry, immunoprecipitation, and radial immunodiffusion test services. The market value includes the value of related goods sold by the service provider or included within the service offering. The immunodiagnostics market also includes sales of anti-streptolysin-O latex, infectious mononucleosis slide, rheumatoid factor, and syphilis serology reagent. 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 value of goods in this market includes related services sold by the creators of the goods.

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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