March 1, 2024
Chemiluminescence Immunoassay Market

Accelerated Chemiluminescence Immunoassay Adoption To Power The Growth Of The Global Chemiluminescence Immunoassay Market

The global Chemiluminescence Immunoassay Market is estimated to be valued at US$ 7.01 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Chemiluminescence immunoassay (CLIA) is an advanced biochemical technique used for detecting and quantifying analytes such as peptides, proteins, hormones, drugs and metabolites in biological samples like blood, urine and saliva. CLIA uses a light-emitting chemical reaction to detect the presence of a substance in a biological sample. It is 100 times more sensitive than conventional ELISA methods. CLIA enables simultaneous detection of multiple analytes in a single sample. The technique provides accurate, precise and reproducible results in a shorter turnaround time. It is widely used in clinical laboratories for disease diagnosis, therapeutic drug monitoring and endocrine function testing.

Market key trends:

One of the key trends in the chemiluminescence immunoassay market is growing demand for automated CLIA systems. Automated CLIA analyzers provide high throughput along with reduced operational costs and hands-on time for technicians. They offer random access capabilities allowing for continual and simultaneous processing of different test requests. Rising incidence of chronic diseases and growing elderly population are also driving adoption of CLIA tests globally. According to the World Health Organization, chronic diseases accounted for over 70% of all deaths worldwide in 2020. Furthermore, increasing applications of CLIA in fields like oncology and cardiology present lucrative growth opportunities in the market.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established regulatory standards pose a low threat of new entrants in the chemiluminescence immunoassay market.

Bargaining power of buyers: Large healthcare providers and government organizations have significant bargaining power over manufacturers due to the consolidated nature of buyers.

Bargaining power of suppliers: The availability of alternative component suppliers limits the bargaining power of suppliers in the chemiluminescence immunoassay market.

Threat of new substitutes: Technological advancements can potentially introduce new substitute products though existing technologies have significant switching costs.

Competitive rivalry: The chemiluminescence immunoassay market features intense competition between global key players and local small players.

Key Takeaways

The Global Chemiluminescence Immunoassay Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing prevalence of chronic and infectious diseases.

Regionally, North America is projected to dominate the global chemiluminescence immunoassay market during the forecast period. This is attributed to the rising healthcare spending and increasing adoption of advanced diagnostic technologies in the region. Meanwhile, Asia Pacific region is anticipated to exhibit the fastest growth rate over the coming years owing to growing public health awareness and improving healthcare infrastructure in developing countries.

Key players operating in the chemiluminescence immunoassay market are 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. These players are focusing on new product launches as well as partnerships and agreements to expand their global presence and strengthen their market position.

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