At 8.5% CAGR, the Asia Pacific Immunodiagnostics Market is Projected to be worth US$ 4,252.35 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific immunodiagnostics market was valued at US$ 2,409.90 million in 2023 and is expected to reach US$ 4,252.35 million by 2030, registering a CAGR of 8.5% from 2023 to 2030. Rising focus on R&D investment and expansion by key players and technological advancements in immunodiagnostics are the critical factors attributed to the Asia Pacific immunodiagnostics market expansion.

Research and development (R&D) have been the crucial part of the pharmaceutical business. It enables companies to develop new products with significant medical and commercial potential for various diagnostic applications. Due to the surging prevalence of infectious diseases, companies invest and generate huge revenues for expansion activities. During the COVID-19 pandemic, Thermo Fisher Scientific Inc. witnessed a 48% increase in the sales of its specialty diagnostics segment (sub-segmented into clinical diagnostics, immunodiagnostics, microbiology, transplant diagnostics, and healthcare market channel) in 2020. The segmental revenue of the company further increased in 2021 due to higher demand and sales of immunodiagnostics products used in COVID-19 treatment. Siemens Healthineers announced the investment of over US$ 32 million in its Glasgow Laboratory Diagnostics Manufacturing Facility in Newark, Delaware, in September 2021. The investment extending over 24 months, enabled the company to add over 20 diagnostic tests in Delaware manufacturing capabilities. This initiative boosted the productivity of companies by maintaining stability across their diagnostic supply chains.

The extensive R&D for introducing innovative products opens several opportunities for small players and start-ups. Manufacturers have also made a few key investments in the last few years. Cisco Systems, a global technology leader, invested US$ 225 million to combat the COVID-19 pandemic. This enabled the company to expand significantly and encourage new players to enter the market.  

On the contrary, inadequate reimbursement scenario hurdles the growth of Asia Pacific immunodiagnostics market.

Based on product, the Asia Pacific immunodiagnostics market is segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIA), radioimmunoassays (RIA), and others. The enzyme-linked immunosorbent assays (ELISA) segment held 55.3% share of Asia Pacific immunodiagnostics market in 2023, amassing US$ 1,333.04 million. It is projected to garner US$ 2,325.03 million by 2030 to expand at 8.3% CAGR during 2023–2030. The chemiluminescence immunoassays (CLIA) segment is further segmented into vitamin D assay market, HIV detection market, HIV ag/ab combo assay market, and other tests.

Based on clinical indication, the Asia Pacific immunodiagnostics market is segmented into infectious diseases, hepatitis HIV, endocrinology, gastrointestinal, metabolics, and others. The infectious diseases segment held 45.0% share of Asia Pacific immunodiagnostics market in 2023, amassing US$ 1,084.39 million. It is projected to garner US$ 1,983.05 million by 2030 to expand at 9.0% CAGR during 2023–2030. The infectious diseases segment is further segmented into COVID-19, tuberculosis, lyme, infection management, zika, treponema, torch, measles and mumps, VZV, and EBV. The endocrinology segment is further segmented into hypertension, growth, diabetes, thyroid, and reproductive endocrinology.

Based on end user, the Asia Pacific immunodiagnostics market is segmented into hospitals, clinics, diagnostic laboratories, academic & research institutes, and others. The hospitals segment held 43.5% share of Asia Pacific immunodiagnostics market in 2023, amassing US$ 1,047.75 million. It is projected to garner US$ 1,816.14 million by 2030 to expand at 8.2% CAGR during 2023–2030.  

Based on country, the Asia Pacific immunodiagnostics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.2% share of Asia Pacific immunodiagnostics market in 2023. It was assessed at US$ 703.69 million in 2023 and is likely to hit US$ 1,226.80 million by 2030, exhibiting a CAGR of 8.3% during 2023–2030.  

Key players operating in the Asia Pacific immunodiagnostics market are Abbott Laboratories; bioMerieux SA; Danaher Corp; DiaSorin SpA; F. Hoffmann-La Roche Ltd; PerkinElmer Inc; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthcare GmbH; Svar Life Science AB; and Thermo Fisher Scientific Inc, among others.

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