Immunodiagnostic Market to Reach US$ 22,732.7 Mn by 2025, Growing Geriatric Population to Fuel Demand

The rising global prevalence of diseases such as cancer and hepatitis is expected to boost the global immunodiagnostics market. Fortune Business Insights, announced the publishing of a report titled, “Immunodiagnostics: Global Market Analysis, Insights and Forecast, 2018-2025.” As per the report, the Global Immunodiagnostics Market was worth US$ 15,777.5 Mn in 2017. However, the global immunodiagnostics market is anticipated to expand at a CAGR of 4.7% and reach US$ 22,732.7 by the end of 2025. In terms of application, Oncology and Endocrinology were among the highest shareholder in 2017.

The segment accounted for 25.6% of the global immunodiagnostics market. Perhaps, the adoption of immunodiagnostics among new application areas such as endocrine disease and cancer is likely to enable growth in the global market. The increasing usage of immunodiagnostics in point of care testing is likely to enable rapid adoption of immunodiagnostics. 

Abbot, Roche Diagnostics, and DiaSorin hold a significant share in the global immunodiagnostics market. The organizations are also expected to together lead the global market during the forecast period 2018-2025. Besides this, other key companies operating in the global immunodiagnostics market are Danaher Corporation, QIAGEN, bioMérieux, Thermo Fisher Scientific and Quest Diagnostics.

Increasing Awareness About Quality Healthcare to Drive the Market 

Technological advancements in diagnostic kits and a growing geriatric population are some factors anticipated to drive the global immunodiagnostics market during the forecast period 2018-2025. Additionally, liberal reimbursement policies and increasing demand for quality healthcare services are likely to fuel the demand in the global immunodiagnostics market. 

In 2017 the U.S. Food and Drug Administration (FDA), granted approval to the OPKO Health Inc. to conduct prostate-specific antigen test with immunoassay analyzer. This is likely to increase the adoption of immunodiagnostics and further increase the demand in the global immunodiagnostics market. 

On the contrary, the high cost associated with immunodiagnostics and lack of awareness about immunodiagnostics is key factors that may hamper the growth in the global immunodiagnostics market. 

North America, Dominating the Global Immunodiagnostic Market 

At Present North America is dominating the global immunodiagnostics market. The growth witnessed in the region is due to growing emphasis by government organizations on early diagnosis and prevention from diseases. Changing patient preferences and advancements in diagnostic testing is leading to a gradual shift from the ital test to immunodiagnostics. This is expected to boost the global immunodiagnostics market. In 2017 the Asia Pacific immunodiagnostics market was valued at US$ 3939.1 Mn. The market is expected to expand at a relatively higher CAGR during the forecast period 2018-2025. The growth projectable is attributed to the rising prevalence of the various disease in Asia Pacific. Moreover, constantly improving healthcare infrastructure, increasing purchasing power, and rising healthcare expenditure are anticipated to increase the growth rate in the global immunodiagnostic market. 

Fortune Business Insight’s report also provides an insightful overview of opportunities, strategies used by the leading organization in the market, and the potential areas of development. 

Browse Complete Report Details @ https://www.fortunebusinessinsights.com/industry-reports/immunodiagnostics-market-100444

The Global Immunodiagnostics Market can be segmented into the following categories: