Report : Europe 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 4.9% CAGR, the Europe Fluorescent Immunoassay Market is speculated to be worth US$ 1,090.71 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe fluorescent immunoassay market was valued at US$ 781.27 million in 2021 and is expected to reach US$ 1,090.71 million by 2028, registering an annual growth rate of 4.9% from 2021 to 2028. Increasing demand for cell therapies and growing prevalence of chronic diseases are the critical factors attributed to the market expansion.
Fluorescent immunoassays are diagnostic tools for quality control and the quantity-specific detection of antigens and antibodies. The technique derives from the fundamental immunological concept of antigen-antibody binding. These are used in screening to quantify the production or inhibition of antigens/haptens associated with a disease target. These antigens or haptens are characteristic of the disease process and are mediated by the target, such as cytokines or growth factors. Cell therapy is the practice of using cellular material to produce the desired effect in vitro or in vivo through their biological activities and properties. The cells used for the treatments can be classified as either allogeneic or autologous. Modern cell-based therapies also include regenerating human cells, tissue, or organs. The basis of the cells used comes from the stem and progenitor cells, mature and functionally differentiated cells, or artificially produced tissue. Fluorescence-activated cell sorting (FACS) is a highly flexible technique with many options for stem cell sorting. It is also the only way to isolate a particular stem cell population using multiple internal and external markers. FACS is a specialized type of flow cytometry that sorts a heterogeneous mixture of cells based on each cell's specific light scatter and fluorescence properties. Cells are first tagged with fluorescent antibodies that bind to relevant proteins on target cells. Single cells pass a laser beam, and a detector measures fluorescence, forward scattered light (FSC), and side spread light (SSC). FSC and SSC are used to determine the size of the cell. Fluorescence at multiple wavelengths can be detected simultaneously but depends on the instrument's specific lasers, filters, and detectors. The cells are then physically sorted into different bins based on captured measurements and user-entered parameters. Fluorescence-activated cell sorting allows for current and future cell isolation needs for efficient stem cell research. Thus, there is a growing demand for fluorescent immunoassays for providing quality and the quantity-specific detection of antigens and antibodies.
On the contrary, disadvantages of fluorescent immunoassays hurdles the growth of Europe fluorescent immunoassay market.
Based on product type, the Europe fluorescent immunoassay market is segmented into ELISA, rapid lateral flow immunoassay, and others. The ELISA held 56.3% market share in 2021, amassing US$ 439.61 million. It is projected to garner US$ 634.21 million by 2028 to expand at 5.4% CAGR during 2021–2028.
Based on application, the Europe fluorescent immunoassay market is segmented into infectious diseases, oncology, cardiovascular diseases, and others. The infectious disease segment held 54.5% market share in 2021, amassing US$ 425.61 million. It is projected to garner US$ 617.32 million by 2028 to expand at 5.5% CAGR during 2021–2028.
Based on end user, the Europe fluorescent immunoassay market is segmented into hospitals & clinics, diagnostic centers, pharmaceutical & biotechnology companies, academic & research institutes, and others. The hospitals and clinics segment held 43.9% market share in 2021, amassing US$ 343.01 million. It is projected to garner US$ 511.89 million by 2028 to expand at 6.9% CAGR during 2021–2028.
Based on country, the Europe fluorescent immunoassay market is segmented into the UK, Germany, France, Italy, Spain, and Rest of europe. Our regional analysis states that the Germany captured 24.3% market share in 2021. It was assessed at US$ 190.17 million in 2021 and is likely to hit US$ 276.99 million by 2028, exhibiting a CAGR of 5.5% during the forecast period.
Key players dominating the Europe 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.