by Enzyme Linked Immunosorbent Assay (ELISA) is a technique widely used to detect the presence of antibodies and analyze protein in blood or other bodily fluids. It is known to be highly sensitive and its results are widely trusted in clinical diagnosis of diseases such as HIV, hepatitis, and Lyme disease. The growing prevalence of infectious diseases globally is increasing the demand for ELISA tests significantly.
The global Enzyme-Linked Immunosorbent Assay Market is estimated to be valued at US$ 2118.92 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Rising prevalence of infectious diseases: The increasing prevalence of infectious diseases across the world is a key factor propelling the growth of the global ELISA market. For instance, according to the World Health Organization (WHO), as of 2019, there were around 38 million people living with HIV/AIDS globally. Moreover, hepatitis B virus infects an estimated 257 million people worldwide as per WHO data. ELISA serves as an important diagnostic test for detection of infectious diseases and their exacerbating incidence worldwide is expected to drive the demand for ELISA tests over the forecast period.
SWOT Analysis
Strength: The Enzyme Linked Immunosorbent Assay (ELISA) test has high sensitivity and specificity for detection of antigens and antibodies. It is easy to perform with minimal instrumentation.
Weakness: Results from ELISA tests can be challenging to interpret as false-positives and false-negatives are possible. The accuracy depends greatly on the reagents used.
Opportunity: Growing geriatric population and increasing incidence of chronic and infectious diseases is driving demand for diagnostic testing. This creates opportunities for ELISA kits and reagents manufacturers.
Threats: Stringent regulatory policies for approval of diagnostic kits pose threats. Rapidly evolving alternative technologies also threaten the ELISA market.
Key Takeaways
The global Enzyme Linked Immunosorbent Assay market Growth is expected to witness high growth. The global Enzyme Linked Immunosorbent Assay Market is estimated to be valued at US$ 2118.92 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030.
North America currently dominates the ELISA market and is expected to continue its dominance over the forecast period. This is attributed to growing healthcare expenditure and high diagnostic rates in the US and Canada. Asia Pacific is expected to grow at the fastest pace owing to rising medical tourism, healthcare infrastructure expansion and growing medical requirements of large geriatric population in China and India.
Key players operating in the Enzyme Linked Immunosorbent Assay market are DSV, a.p. moller – maersk, United Parcel Service of America, Inc., XPO Logistics Inc., DHL International GmbH, Kuehne+Nagel Inc., Geodis, FedEx Corporation, C.H. Robinson Worldwide, Inc., db schenker. Key players are focusing on new product approvals and expanding their manufacturing facilities and distribution networks to better serve the growing diagnostic requirements, especially in emerging markets.
