Asia Pacific ELISA Diagnostics Tests Market Revenue to cross US$ 503.08 million by 2030

At 8.8% CAGR, the Asia Pacific ELISA Diagnostics Tests Market is Speculated to be worth US$ 503.08 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific ELISA diagnostics tests market was valued at US$ 255.70 million in 2022 and is expected to reach US$ 503.08 million by 2030, registering a CAGR of 8.8% from 2022 to 2030. Increasing incidence of human infections and innovative product launches are among the critical factors attributed to the Asia Pacific ELISA diagnostics tests market expansion.

According to the WHO Report 2020, noncommunicable and chronic diseases cause the majority of adult deaths worldwide. Over the next ten years, this number is expected to rise by 17%. Roughly one in three persons worldwide deal with several chronic illnesses. Moreover, noncommunicable illnesses account for 41 million annual deaths worldwide, or 74% of all fatalities. Further, 17 million individuals die from NCDs before they become 70 years old every year; low- and middle-income nations account for 86% of these premature fatalities. With 17.9 million fatalities from NCDs each year, cardiovascular illnesses account for the majority of mortality. Cancer, chronic respiratory diseases, and diabetes follow closely behind. In humans, ELISA test is used as a biomarker to detect cancer, infectious diseases, autoimmunity, endocrinology diagnosis, immunology & cytokines, cell adhesion molecules (CAMs), and others. ELISA testing helps detect cancer at the early stage of diagnostic processes, offering a better chance for patient survival and getting appropriate treatment initially. Therefore, demand for ELISA testing is high across the world owing resulting in market growth during the forecast period.

On the contrary, incidents of product recalls hamper the growth of Asia Pacific ELISA diagnostics tests market.

Based on adoption, the Asia Pacific ELISA diagnostics tests market is bifurcated into human and veterinary. The human segment held 64.9% market share in 2022, amassing US$ 166.00 million. It is projected to garner US$ 338.84 million by 2030 to expand at 9.3% CAGR during 2022-2030.

In terms of test type, the Asia Pacific ELISA diagnostics tests market is categorized into sandwich ELISA, indirect ELISA, competitive ELISA, and multiple & portable ELISA. The indirect ELISA segment held 35.3% share of Asia Pacific ELISA diagnostics tests market in 2022, amassing US$ 90.36 million. It is projected to garner US$ 194.82 million by 2030 to expand at 10.1% CAGR during 2022-2030.

Based on application, the Asia Pacific ELISA diagnostics tests market is categorized into autoimmune diseases, infectious diseases, cancer diagnosis, protein quantification, and others. The infectious diseases segment held 41.2% share of Asia Pacific ELISA diagnostics tests market in 2022, amassing US$ 105.36 million. It is projected to garner US$ 224.47 million by 2030 to expand at 9.9% CAGR during 2022-2030.

By end user, the Asia Pacific ELISA diagnostics tests market is categorized into hospitals & diagnostic centers, pharmaceutical & biotechnology companies, veterinary hospitals & diagnostic laboratories, and others. The hospitals & diagnostic centers segment held 40.3% share of Asia Pacific ELISA diagnostics tests market in 2022, amassing US$ 103.08 million. It is projected to garner US$ 217.28 million by 2030 to expand at 9.8% CAGR during 2022-2030.

Based on country, the Asia Pacific ELISA diagnostics tests market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 60.4% share of Asia Pacific ELISA diagnostics tests market in 2022. It was assessed at US$ 154.47 million in 2022 and is likely to hit US$ 317.19 million by 2030, exhibiting a CAGR of 9.4% during 2022-2030.

Key players operating in the Asia Pacific ELISA diagnostics tests market are Bio-Rad Laboratories Inc., Idexx Laboratories Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corp., Pictor Ltd., DiaSorin SpA, Elabscience Biotechnology Inc., and Bio-Techne Corp., among others.