The worldwide immunoassay market, propelled by extensive use of immunoassays in oncology, technological advancements, cost-effectiveness, and rapid analysis of immunoassays, reagents, and kits segment is expected to dominate globally with more than 8 percent CAGR to hit USD 25.45 billion by 2021, from USD 17.16 billion in 2016, predicts Reports and Reports.
The global immunoassay market is segmented based on product and service, technology, application, end user, and region. The reagents and kits segment is expected to account for the largest market share of the immunoassay market. The high growth in this segment can be attributed to the expanding use of immunoassay tests worldwide.
On the basis of technology, the ELISA segment is expected to account for the largest share of the market in 2016. Expanding use of immunoassay tests in cancer, point-of-care in vitro diagnostics, infectious disease testing, and therapeutic drug level monitoring as well as the introduction of novel biomarkers will drive the growth of this market.