Market Overview:

Chemiluminescence immunoassay is a commonly used biochemical method for detecting and quantitating biomolecules such as peptides, proteins, antibodies and hormones. It is widely used in clinical diagnostics, pharmaceutical research and quality assurance testing. Chemiluminescence immunoassay utilizes luminescent chemical reactions between two reagents to detect and quantify analyte in order to diagnose various diseases and conditions.

Market Dynamics:

Chemiluminescence immunoassay market is primarily driven by rising burden of cardiovascular and infectious diseases globally. Cardiovascular diseases accounted for over 17 million deaths annually, as per the World Health Organization (WHO). Similarly, infectious diseases such as HIV/AIDS, hepatitis B&C, tuberculosis and malaria are posing serious public health challenge across both developing and developed countries. For instance, according to UNAIDS around 37.7 million people were living with HIV/AID globally in 2020. Chemiluminescence immunoassay plays a crucial role in detecting biomarkers for managing such chronic and infectious diseases.

Additionally, technological advancements in chemiluminescence immunoassay platform offering improved sensitivity, specificity, speed and integrated automation is increasing its adoption rate among healthcare facilities. However, stringent regulations for product development and high costs associated with chemiluminescence immunoassay instruments may hinder market growth over the forecast period.

SWOT Analysis

Strength: Chemiluminescence immunoassay provides highly sensitive and specific detection of biochemical markers. It offers precise quantification of analytes from less amount of sample. The automated platforms reduce manual errors and improve productivity.

Weakness: Chemiluminescence immunoassay requires expensive reagents and equipment. Complex analysis and maintenance of assay platforms increases overall cost of testing.

Opportunity: Rising cases of chronic and infectious diseases augment the demand for diagnostic testing. Growing geriatric population susceptible to various ailments expand the application scope. Favourable regulatory environment and technological advancements offer new growth prospects.

Threats: Stiff competition from alternative techniques like fluorescence immunoassay and enzyme-linked immunosorbent assay. Stringent regulatory norms and reimbursement issues in developing nations restrict market revenue.

Key Takeaways

The Global Chemiluminescence Immunoassay Market Demand is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing prevalence of chronic and infectious diseases. Assays performed through chemiluminescence immunoassay techniques are efficient for detecting various protein biomarkers and low level analytes.

North America dominates the global market and is estimated to account for over 35% market share owing to advanced healthcare infrastructure, presence of leading players and rising healthcare expenditure. Asia Pacific exhibits fastest growth fueled by expanding patient pool, improving access to diagnostic services and focus of international players on emerging economies.

Key players operating in the chemiluminescence immunoassay market include DiaSorin S.p.A., Abbott Laboratories, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers, Beckman Coulter Inc., F. Hoffmann-La Roche AG, Inova Diagnostics, Inc., Maccura Biotechnology Co., Ltd., Tosoh Corporation, and Ortho Clinical Diagnostic. Players adopt strategies such as new product launches, acquisitions and geographical expansion to retain their leadership position.

Note:

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it