Immunoassays conducted for the purpose of determining the presence of infectious disease in a patient lead the market for this important IVD test, both in size of market and in the rate of revenue growth, according to The World Market for Immunoassays, a recent study by Kalorama Information. The market research publisher said that the market for infectious disease immunoassays will grow from 6.7 billion to 8.5 billion between 2012 and 2018.
The overall immunoassay market will continue to grow slowly, according to Kalorama, at perhaps 2-3% per year. But the report notes that this hasn’t stopped hundreds of competitors from entering the market and in some segments of testing it is very competitive. Kalorama says microbiology and virology testing is one of faster-growth segments these companies will seek out.
“Infectious diseases represents the largest sales of immunoassays conducted in clinical laboratories, and it is also the fastest growing segment,” said Bruce Carlson, Publisher of Kalorama Information. “The growth in infectious disease testing in developing countries will be a large factor in this market.”
Tests for hepatitis (especially hepatitis B and hepatitis C), HIV dominate immunoassays used to detect infectious disease. Combined, immunoassays for hepatitis and HIV represent thirty-six percent of the lab-based immunoassay market for infectious disease. These viral diseases are major problems worldwide, and especially in many developing countries.
The report indicates that Prospects for growth in the immunoassay market are good in certain geographical regions of the world (developing countries). Several factors are driving the growth of diagnostic testing, including testing with lateral flow devices, in these markets. One major factor is economic. There is a growing middle class population, that is increasingly insured, in many countries in South East Asia and Latin America, and these patients are better able to pay for services. In addition, increased availability of health insurance in emerging companies such as China and India is helping to fuel this growth. These and other factors will make these regions promising segments of the immunoassay market.
“There’s hundreds of immunoassay companies,” said Carlson. “They include major worldwide diagnostic companies, single-test outfits and then local companies supplying their own country’s healthcare system. It’s highly competitive.”
The report says much of the growth of testing in these markets in the near future will be with existing technology (including ELISA and lateral flow tests).
Kalorama’s report contains breakouts of over a dozen segments of the immunoassay market with size estimates and forecasts. The report profiles 275 companies in the market and reviews important trends for companies in the industry to know. The World Market for Immunoassays can be found at http://www.kaloramainformation.com/Immunoassays-7868032/