Immunoprotein Diagnostic Testing Market Expected to Reach $18.38 Billion by 2027—Allied Market Research

According to a new report published by Allied Market Research, titled, “Immunoprotein Diagnostic Testing Market by Type, Application, and Technology: Global Opportunity Analysis and Industry Forecast, 2020–2027," the global immunoprotein diagnostic testing market was valued at $10.13 billion in 2019 and is projected to reach $18.38 billion by 2027, registering a CAGR of 6.6% from 2020 to 2027. 

Immunoprotein is a protein that possesses immunological activity, which provides immunity against pathogenic organisms or substances. High prevalence of diseases such as cancer, cardiovascular diseases, allergies, urological disorders, and orthopedic diseases is the major driver of the market. However, stringent regulatory framework with regards to immunoprotein diagnostic tests is projected to restrain the market growth during the forecast period. Conversely, owing to COVID-19 outbreak, trade and transport restrictions, quarantine measures, cross-border movement controls and disruptions in production have interrupted the manufacturing and distribution of diagnostic assays and kits, thereby adversely affecting supply chain activities. However, on account of the pandemic, several pharmaceutical companies have launched immunoprotein diagnostic assays for detecting COVID-19 infection across the world. These newer product launches along with emergency-use authorized approval for immunoprotein diagnostics tests are collectively anticipated to drive the demand for immunoprotein diagnostic testing market in the coming years.

The global immunoprotein diagnostic testing market is segmented based on type, application, technology, and region. Based on technology, the immunoprotein diagnostic testing market is classified into radioimmunoassay, immunoturbidity assay, immunoprotein electrophoresis, enzyme-linked immunosorbent assay, and others. The enzyme-based immunosorbent assay segment held the largest share of 65.27% in 2019, owing to wide application of enzyme-based immunoassay.

By type, the market is divided into C-reactive protein diagnostic test, complement system protein diagnostic test, pre-albumin diagnostic test, haptoglobin diagnostic test, immunoglobulin diagnostic test, and free light chain diagnostic tests. The immunoglobulin diagnostic test segment held the largest share of 25.48% in 2019, owing to the high adoption of immunoglobulin diagnostic test for the detection of excess or deficiency of immunoglobulin that provides information about the functioning of the immune system. 

According to application, the market is categorized into autoimmune testing, infectious disease testing, allergy testing, endocrine testing, oncology testing, and toxicology testing. The infectious disease segment dominated the market in 2019, accounting for 22.93% share, owing to the higher incidence of infectious diseases and hence high usage of immunoprotein diagnostic testing for the detection of infectious diseases.

Key Findings Of The Study 

• By type, the immunoglobulin diagnostic tests segment dominated the market in 2019, accounting for 25.48% of the share, and is projected to grow at a CAGR of 7.8%.
• By application, the infectious disease testing segment accounted for the highest share of 22.93% in 2019.
• Enzyme-linked immunosorbent assay technology dominated the market in 2019 and is expected to grow with a CAGR of 65.27% during the analysis period.
• North America accounted for the highest share of 40.56% in 2019 and is projected to grow at a CAGR of 6.4%.
• U.S. was the major shareholder in the North American immunoprotein diagnostic testing market, accounting for 87.23% share in 2019.
• Asia-Pacific is expected to show the highest growth rate during the analysis period, registering a CAGR of 7.7%.
• China is expected to grow at the highest CAGR of 10.6% in the Asia-Pacific immunoprotein diagnostic testing market.

North America accounted for 40.56% of the share 2019 and is expected to dominate the market throughout the forecast period. This is attributed to increase in incidence of diseases due to rise in geriatric population, well-established healthcare systems, and increase in awareness among the population towards timely diagnosis of diseases. In addition, higher adoption rate for technologically advanced devices is anticipated to provide new growth opportunities for the key players in the market. However, Asia-Pacific is projected to grow at the highest CAGR of 7.7% during the analysis period, owing to rise in healthcare expenditure, increase in per capita income, growth in demand for healthcare services from large pool of patient population, and improvement in healthcare infrastructure. The major players operating in the immunoprotein diagnostic testing market include Abbott Laboratories, Abcam PLC, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Enzo Life Sciences, Ortho Clinical Diagnostics, Roche Diagnostics, Siemens Healthcare, and Thermo Fisher Scientific.