Report : Asia-Pacific Immunodiagnostics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product [Enzyme-Linked Immunosorbent Assays (ELISA), Chemiluminescence Immunoassays (CLIA), Radioimmunoassays (RIA), and Others], Clinical Indication (Infectious Diseases, Hepatitis+HIV, Endocrinology, Gastrointestinal, Metabolics, and Others), and End User (Hospitals, Clinics, Diagnostic Laboratories, Academic & Research Institutes, and Others)
At 8.2% CAGR, the APAC Immunodiagnostics Market is speculated to be worth US$ 3,587.50 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC immunodiagnostics market was valued at US$ 2,231.31 million in 2022 and is expected to reach US$ 3,587.50 million by 2028, registering an annual growth rate of 8.2% from 2022 to 2028. Increasing use of point-of-care immunodiagnostics and increasing prevalence of infectious diseases are the critical factors attributed to the APAC immunodiagnostics market expansion.
Point-of-care testing (POCT) has become critical to patient-centric healthcare due to the need for rapid diagnostic results to determine the accurate and faster treatment. A shift from centralized point-of-care testing to decentralized testing for chronic and infectious patients has resulted in convenient patient access to these diagnostics. Current approach of diagnosis and monitoring chronic conditions or detecting pathogens such as bacteria and viruses rely on immunoassay testing. Advanced point-of-care devices enable rapid screening of up to three components from a single sample. Also, the point-of-care diagnostics (POCD) inclined toward mobile healthcare (mH) smart devices could revolutionize personalized healthcare monitoring and management, paving the way for next-generation POCTs. The infectious disease management can be significantly improved by POCTs, especially in developing countries where access to timely medical care is challenging and healthcare infrastructure is outdated and sparse. Additionally, the technologically developed diagnostic kits leading to fewer manual errors, propel the immunodiagnostics market. Innovative immunodiagnostic products are being developed by several market players. For instance, Thermo Fisher Scientific has developed immunodiagnostic products such as enzyme-linked immunoassay (ELISA) reagents and buffers, antibodies and detection probes, linking mechanisms, blocking buffers and detergents, detection substrates, and capture surfaces, as well as services such as bioconjugation and detection. Further, on September 1, 2020, Roche launched SARS-CoV-2 Rapid Antigen Test. The SARS-CoV-2 Rapid Antigen Test is used in POC settings for symptomatic and asymptomatic people to help healthcare professionals identify the infection within 15 minutes in people suspected of carrying the virus. Likewise, the use of immunodiagnostics in cancer treatment is increasing. In oncology, an immunodiagnostic test can confirm the presence of a solid tumor by detecting known tumor-associated antigens or antibodies. These advantages and indications are driving the APAC immunodiagnostics market.
On the contrary, inadequate reimbursement scenario hurdles the growth of APAC immunodiagnostics market.
Based on product, the APAC immunodiagnostics market is segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIA), radioimmunoassay (RIA), and others. The enzyme-linked immunosorbent assays (ELISA) segment held 55.4% share of APAC immunodiagnostics market in 2022, amassing US$ 1,236.29 million. It is projected to garner US$ 1,968.06 million by 2028 to expand at 8.1% CAGR during 2022–2028.
Based on clinical indication, the APAC immunodiagnostics market is segmented into infectious diseases, hepatitis+HIV, endocrinology, gastrointestinal, metabolics and others. The infectious diseases segment held 44.8% share of APAC immunodiagnostics market in 2022, amassing US$ 998.81 million. It is projected to garner US$ 1,656.22 million by 2028 to expand at 8.8% CAGR during 2022–2028.
Based on end user, the APAC immunodiagnostics market is segmented into hospitals, clinics, diagnostics laboratories, academic and research institutes, and others. The hospital segment held 43.6% share of APAC immunodiagnostics market in 2022, amassing US$ 972.57 million. It is projected to garner US$ 1,540.02 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on country, the APAC immunodiagnostics market is segmented into China, Japan, India, Australia, South Korea, and the Rest of APAC. Our regional analysis states that China captured 29.3% share of APAC immunodiagnostics market in 2022. It was assessed at US$ 652.66 million in 2022 and is likely to hit US$ 1,038.58 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.
Key players dominating the APAC immunodiagnostics market are Abbott Laboratories; bioMerieux SA; Danaher Corp; DiaSorin S.p.A.; F. Hoffmann-La Roche Ltd; PerkinElmer Inc.; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthineers AG; Svar Life Science AB; and Thermo Fisher Scientific Inc among others.
- In 2021, Siemens Healthineers announced that Atellica VTLi Patient-Side Immunoassay Analyzer has obtained a CE mark. The Atellica VTLi analyzer provides lab standard, high-sensitivity cardiac troponin I (hs-cTnI) test results to clinicians in eight minutes using a patient's fingerstick blood sample. This has expedited the diagnosis of heart attack with Atellica VTLi Patient-Side Analyzer for industry first fingerstick high-sensitivity troponin I at Point-of-Care.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: firstname.lastname@example.org