The Europe fluorescent immunoassay market is expected to grow from US$ 781.27 million in 2021 to US$ 1,090.71 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028.
Chronic diseases and conditions are rising across the region. The need for expensive chronic care is growing, placing significant demands on healthcare systems. The rise in the aging population and shifts in societal behavior contribute to a steady rise in these common and costly long-term health issues. The middle class is growing; thus, with the rise in urbanization, people are adopting a more sedentary lifestyle. This is driving obesity rates and cases of diseases such as diabetes. Chronic kidney disease (CKD) is the 14th leading cause of death and is responsible for 1.2 million deaths each year. The growing incidence of CKD is primarily associated with lifestyle disorders such as hypertension, cardiovascular disease, hormonal imbalances, and diabetes. Early detection and treatment of CKD are crucial, as progressive CKD is associated with unfortunate clinical consequences, such as end-stage kidney disease (ESKD), cardiovascular diseases, and increased mortality. The diagnosis, prognosis, and control of CKD are based on understanding the glomerular filtration rate (GFR). Cystatin-C is a better GFR marker than the commonly used creatinine. The fluorescence lateral flow immunoassay was developed and optimized to estimate the cystatin-C value to calculate the GFR. The COVID-19 pandemic highlighted the need for rapid and accurate nucleic acid detection at the point-of-care. Further, fluorescence-based quantitative reverse transcription PCR (RT-qPCR) has high sensitivity and specificity, but turnaround times can be extended in part (ranging from hours to days) due to the need for nucleic acid purification and amplification. In addition, most people infected with SARS-CoV-2 develop mild or no symptoms. Therefore, there is an urgent need to develop rapid, simple, and high-throughput assays for the detection of nucleic acids. A standard fluorescence immunoassay system is a multiparametric, random access system that provides accurate and reliable diagnostic results. It is a system capable of performing qualitative and quantitative analyses of infections, respiratory diseases, and chronic diseases. A convenient user interface and laboratory information system (LIS)/hospital information system (HIS) connectivity save valuable time, and the analyzer automatically reads and interprets the results. A cut-off index provides a good reference point for medical decision-making. Therefore, there is a growing need for fluorescent immunoassays owing to the rising number of chronic diseases across the region.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe fluorescent immunoassay market at a notable CAGR during the forecast period.
Europe Fluorescent Immunoassay Market Revenue and Forecast to 2028 (US$ Million)
Europe Fluorescent Immunoassay Market Segmentation
The Europe fluorescent immunoassay market is segmented into product type, application, end user, and country. Based on product type, the market is segmented into ELISA, rapid lateral flow immunoassay, and others. The ELISA segment dominated the market in 2021 and is expected to be fastest growing during forecast period. Based on application, the market is segmented into infectious diseases, oncology, cardiovascular diseases, and others. The infectious disease segment dominated the market in 2021 and is expected to be fastest growing during forecast period. Based on end user, the market is segmented into hospitals & clinics, diagnostic centers, pharmaceutical & biotechnology companies, academic & research institutes, and others. The hospitals and clinics segment dominated the market in 2021 and is expected to be fastest growing during forecast period. Based on country, the Europe fluorescent immunoassay market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe.
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. are among the leading companies operating in the Europe fluorescent immunoassay market.