April 20, 2024
Enzyme Linked Immunosorbent Assay Market

The Global Enzyme Linked Immunosorbent Assay Market Is Estimated To Propelled By Increasing Adoption Of Multiplex Immunoassays In Disease Diagnosis

Enzyme Linked Immunosorbent Assay or ELISA is a biochemical technique used mainly in immunology to detect the presence of antibodies or antigens in a liquid sample like blood or urine. ELISA testing provides accurate diagnostic results for various diseases like HIV, cancer, and cardiac ailments within a short span of time. The Global Enzyme Linked Immunosorbent Assay Market Size is estimated to be valued at US$ 2118.92 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing adoption of multiplex immunoassays has contributed significantly to the growth of the ELISA market. Multiplex immunoassays allow screening of multiple analytes in a single reaction with high sensitivity and specificity. They are increasingly being used in disease diagnosis as analyzing multiple biomarkers together provides a more comprehensive clinical picture of the disease. This has led to the development and commercialization of innovative multiplex ELISA kits that can detect multiple biomarkers involved in conditions like cancer, cardiovascular diseases, and autoimmune disorders simultaneously. The ability of multiplex immunoassays to streamline diagnostic workflows and provide accurate results cost-effectively is expected to drive their demand in the coming years, thereby propelling the Enzyme Linked Immunosorbent Assay market.

SWOT Analysis

Strength: Enzyme Linked Immunosorbent Assay (ELISA) is highly sensitive, specific and accurate testing method for detection of antibodies and proteins. It is considered the gold standard for antibody-based detection.

Weakness: ELISA-based testing requires specialized equipment and skilled technicians to conduct the assay. It is a multi-step procedure and results interpretation requires expertise.

Opportunity: Rising cases of chronic and infectious diseases is driving the demand for ELISA testing globally. Growing applications of ELISA in pharmacokinetic and diagnostic testing also presents lucrative opportunities.

Threats: Availability of alternative testing methods like rapid tests pose competition to ELISA technology. Stringent regulatory landscape also increases compliance costs.

Key Takeaways

The global Enzyme Linked Immunosorbent Assay Market 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 5.1% over the forecast period 2023 to 2030.

Regional analysis

North America dominates the global ELISA market and is expected to maintain its lead during the forecast period. This is attributed to well established healthcare systems and growing burden of chronic diseases in the US and Canada. Asia Pacific region is anticipated to witness fastest growth owing to rising healthcare investments, healthcare reforms and expanding diagnostic facilities in major countries like China and India.

Key players

Key players operating in the Enzyme Linked Immunosorbent Assay (ELISA) market are Bio-Rad Laboratories, Inc., Enzo Life Sciences, Inc., Thermo Fisher Scientific, Inc., Biomerieux S.A., Alpco, BioLegand, Inc., R&D Systems, Creative Diagnostics, Zeus Scientific, Inc., and Shenzhen YHLO Biotech Co., Ltd. Bio-Rad Laboratories commands the largest market share due to its strong global presence and diversified ELISA product portfolio. Other key players are focusing on new product launches and regional expansion to solidify their market position.

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