Immunoassay - Worldwide

Immunoassay Market Size and Definition

The global immunoassay market size accounted for USD 32,820 million in 2024 and is expected to exceed around USD 53,970 million by 2034, growing at a CAGR of 5.1% from 2024 to 2034.

The immunoassay market refers to the industry that includes the technology or product (Biochemical Test) that is used to detect the presence of a concentration of a macromolecule or any sample such as blood, serum, urine, or saliva in a solution through the use of an antibody or an antigen. The immunoassay is used for the diagnosis of diseases, therapeutic drug monitoring, and clinical pharmacokinetic and bioequivalence studies in drug discovery and pharmaceutical industries. The market is growing due to increased demand for the early diagnosis of disease, a rise in chronic and infectious diseases, the impact of the pandemic, and an increased focus on preventive healthcare.

The key restraints in the market are the high cost of testing, lack of skilled workforce, economic constraints, regulatory challenges, and technological challenges. Despite this, the immunoassay market will grow in the future due to technological advancements in the assay, the rise in the prevalence of chronic and contagious diseases, expansion in the healthcare sector, the adoption of point-of-care testing, the rise in the aging population, the rise in home-based diagnostics, regulatory support, and government funding.