Immunoprotein Diagnostic Testing Market Analysis
Immunoprotein Diagnostic Testing Market - Global Industry Insights, Trends, Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Immunoproteins refers to blood proteins that are involved in playing a role in the functioning of the immune system. These proteins possess an immunological activity against pathogenic organisms and substances as they display an abnormal increase in blood concentration thereby acting as a potential indicator in disease diagnosis during an unhealthy state. The immunoproteins form an integrated body system in cells, tissues or organs that help to neutralize the harmful effects of antigens. The immunoproteins also help in the diagnosis of several diseases that include infectious diseases, cardiovascular diseases, and oncological conditions.
High prevalence rates of chronic diseases to push the sales of the global immunoprotein diagnostic testing market
The prime reason for the growth in the demand for immunoprotein diagnostic testing services is the increase in prevalence and incidence rate of chronic diseases. According to WHO, the Global Health Observatory (GHO) data suggests that around 1.6 million which accounts up to 2.8% of the total deaths are caused due to diabetes. Moreover, in 2012, lung cancer alone was responsible to cause about 1.6 million deaths according to the statistics mentioned in the WHO report. To prevent such high mortality rates due to chronic disorders demands early diagnosis and suitable diagnostic testing. This is where the global immunoprotein diagnostic testing can serve a massive population thereby fueling its own growth at the global level.
The chemiluminescent segment exhibits a rapid growth in the global immunoprotein diagnostic testing that can be attributed to the wide scope of application and ease of use
Based on geographical regions, the global immunoprotein diagnostic market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the major share in the global immunoprotein diagnostic testing market and is also expected to dominate the market over the forecast period, owing to higher adoption rates for technologically advanced devices and well-established healthcare infrastructures. However, Asia Pacific is expected to exhibit rapid projecting growth due to an increase in healthcare and diagnostic services demand, an increase in per capita income and improvement in the healthcare facilities.
Increase in geriatric population coupled with a high prevalence of non- communicable diseases responsible to propel the global immunoprotein diagnostic testing market
The major factors responsible to drive the global immunoprotein diagnostic testing market are the rise in the geriatric population and the high prevalence and incidence rates of chronic diseases. According to WHO, the number of people suffering from Diabetes has risen from 108 million in 1980 to 422 million in 2014, suggesting a rapid rise in the prevalence and incidence of diabetes. Moreover, according to Global Health Observatory data published by WHO in 2017, around 70% of global deaths accounting for up to 39.5 million are caused due to non- communicable diseases (NCD) such as cardiovascular diseases, chronic lung diseases, cancers, and diabetes.
In addition to this, several other drivers of the global immunoprotein diagnostic testing market comprise of awareness among population towards early diagnosis, well- established healthcare systems and the rise in the incidence of infectious diseases in the developing countries due to unhygienic conditions. However, the small shelf life of the products and low per capita income in various countries are dampening the market growth.
Immunoprotein Diagnostic Testing Market- Competitive Landscape
The key players dominating the global immunoprotein diagnostic testing market include Abbott Laboratories, Inc., Abcam PLC, Agilent Technologies, AdnaGen, BioMerieux, Enzo Life Sciences, Inc., Fujirebio Diagnostics, Inc., DiaSorin SPA, Roche, Randox Laboratories and Thermo Fisher Scientific. These companies are able to hold their position in the global immunoprotein diagnostic testing market due to consequent advancement in technological aspects. For instance, increasing sensitivity and ease of use while performing ELISA to develop radioimmunoassay keeping in mind the cost-effective terms so as to make it accessible and affordable to a population that is price- sensitive.
In June 2019, Eurobio scientific entered into an exclusive negotiation with Vivo medical group for the acquisition of Pathway Diagnostics Ltd and Personal Diagnostics Ltd, two British companies specializing respectively in the development and distribution of in vitro diagnostic tests in the U.K and Ireland, and self-tests for consumers and professionals via an e-commerce platform.
In April 2019, Meridian Bioscience Inc., a provider of diagnostics solution and raw material, entered into a definitive agreement to acquire the business of GenoPic Inc., a provider of molecular diagnostic instruments and assays. With this acquisition, Meridian will be getting GenePOC’s state-of-the-art revogene molecular diagnostics platform, which offers samples to result in testing for single tests, as well as flexible multiplexing capability.
In June 2016, Ortho Clinical Diagnostics and Beckman Coulter, Inc. entered into a strategic partnership for sales of Ortho’s VITROS 3600 Immunodiagnostic System and portfolio for infectious diseases in the U.S.
In April 2016, DiaSorin launched a new serological assay that can be used with the LIAISON Analyzer. The product launched was the LIAISON H. pylori IgG, which offers 90.4%- 98.4% positive results.
In 2016, DiaSorin, S.p.A., acquired the Focus Diagnostics immunodiagnostic and molecular diagnostic product business from Quest Diagnostics. Focus’ product lines include the Simplex molecular product line, HerpeSelect HSV serolog.
Immunoprotein Diagnostic Testing Market-Taxonomy
The global immunoprotein diagnostic testing market is segmented on the basis of technology, test type, application and geographical regions.
By Test Type