Report : Asia-Pacific Fluorescent Immunoassay Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (ELISA, Rapid Lateral Flow Immunoassay, and Others), Application (Infectious Diseases, Oncology, Cardiovascular Diseases, and Others), and End User (Hospitals & Clinics, Diagnostic Centers, Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, and Others)
At 7.0% CAGR, the APAC Fluorescent Immunoassay Market is speculated to be worth US$ 811.10 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC fluorescent immunoassay market was valued at US$ 503.91 million in 2021 and is expected to reach US$ 811.10 million by 2028, registering an annual growth rate of 7.0% from 2021 to 2028. Extensive usage in cancer diagnostics and increase in development of fluorescent dyes and instruments are the critical factors attributed to the market expansion.
Human blood is an essential medical detection index. With the development of clinical medical detection instruments and detection technologies, the requirements for detection accuracy and efficiency have been gradually improved. Early diagnosis and complete surgical resection offer the best prospects for curative cancer treatment. Fluorescence immunochromatography is a new detection technique. It is characterized by high efficiency, convenience, no pollution, and a large detection area. Human blood can be rapidly detected using fluorescent immunochromatography. The concentration of pathogenic factors (cancer cells) in human serum can be conveniently and accurately measured. The system integrates many peripheral modules, including fluorescence signal acquisition, processing, quantitative curve fitting, and test results. The translation of laboratory science into effective clinical cancer therapy is accelerating faster than in history. Understanding cancer cell surface receptors, cancer cell growth, and cancer metabolic pathways has led to many promising molecularly targeted therapies and cancer gene therapies. In the laboratory setting, fluorescence imaging (FI) and bioluminescence imaging (BLI) have long been used in preclinical research to quantify tumor mass, assess tumor targeting by experimental drugs, and distinguish between primary and secondary effects of cancer treatments. Many cancers, including breast, colon, and skin cancer, spread to lymph nodes. Such lymphatic spread has significant prognostic as well as therapeutic implications. Fluorescent dyes have long been used in this endeavor. The dye is injected near the primary tumor; fluorescence detection then identifies the first group of nodes to which the lymph travels. These lymph nodes are called sentinel lymph nodes and are biopsied because they are the most likely to have cancer. Therefore, the rising number of cancer cases worldwide and the growing need for early detection are expected to provide growth opportunities for the fluorescent immunoassays market.
On the contrary, disadvantages of fluorescent immunoassays hurdle the growth of APAC fluorescent immunoassay market.
Based on product type, the APAC fluorescent immunoassay market is segmented into ELISA, rapid lateral flow immunoassay, and others. The ELISA held 55.0% market share in 2021, amassing US$ 276.90 million. It is projected to garner US$ 459.44 million by 2028 to expand at 7.5% CAGR during 2021–2028.
Based on application, the APAC fluorescent immunoassay market is segmented into infectious diseases, oncology, cardiovascular diseases, and others. The infectious disease segment held 54.0% market share in 2021, amassing US$ 272.01 million. It is projected to garner US$ 453.64 million by 2028 to expand at 7.6% CAGR during 2021–2028.
Based on end user, the APAC fluorescent immunoassay market is segmented into hospitals & clinics, diagnostic centers, pharmaceutical & biotechnology companies, academic & research institutes, and others. The hospitals and clinics segment held 43.7% market share in 2021, amassing US$ 220.26 million. It is projected to garner US$ 376.49 million by 2028 to expand at 8.0% CAGR during 2021–2028.
Based on country, the APAC fluorescent immunoassay market is segmented into the China, Japan, India, South Korea, Australia, and Rest of APAC. Our regional analysis states that the China captured 35.8% market share in 2021. It was assessed at US$ 180.59 million in 2021 and is likely to hit US$ 306.65 million by 2028, exhibiting a CAGR of 7.9% during the forecast period.
Key players dominating the APAC fluorescent immunoassay market are Abbott, BD, bioMerieux SA, Danaher, F. Hoffmann-La Roche Ltd., Ortho Clinical Diagnostics Holdings plc, Quidel Corporation, Siemens AG,Sysmex Corporation, and Thermo Fisher Scientific Inc. among others.
- In June 2021, Roche announced that it has launched a high-throughput SARS-CoV-2 antigen test as an aid in the diagnosis of SARS-CoV-2 infections. The laboratory-based Elecsys SARS-CoV-2 Antigen test had earlier received CE mark and has recently obtained the import license from CDSCO.
- In Oct 2020, Quidel announced the receival of Emergency Use Authorization (EUA) from the US FDA to market its Sofia2 Flu + SARS Antigen FIA, a rapid point-of-care test to be used with the Sofia 2 Fluorescent Immunoassay Analyzer for the rapid, simultaneous qualitative detection and differentiation of the nucleocapsid protein antigens from SARS-CoV-2, influenza A and influenza B in direct nasopharyngeal (NP) and nasal (NS) swab specimens from individuals suspected of respiratory viral infection consistent with COVID-19 by their healthcare provider within the first five days of the onset of symptoms.
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