Which application segment driving the demand of Europe Immunoassay Analyzers Market?

Posted on 2022-11-15 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Nov 15, 2022 — /EPR Network/ —

Europe Immunoassay Analyzers Industry Overview

The Europe Immunoassay Analyzers Market size is expected to reach USD 2.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2021 to 2028. The rising prevalence of chronic and infectious diseases and the approval and launch of innovative analyzers are major factors driving the market.

The market is anticipated to exhibit significant growth due to the unprecedented COVID-19 pandemic leading to a shortage of diagnostics and infrastructure. This has created vast opportunities for companies operating in the marketplace to bridge the gap between supply and demand. Amid extensive funding in the healthcare sector, equally from public and private sectors, has led to several research projects pertaining to diagnostics, such as central laboratory tests and point of care tests. These initiatives are aiding in the development of tools, such as immunoassay analyzers. The consumption of immunoassays has increased tremendously during this period of a pandemic propelling the further market growth. The uncertainty over the longevity of the pandemic and the need for analyzers is expected to remain strong in the near future, thereby aiding regional growth.

Europe Immunoassay Analyzers Market Segmentation

Grand View Research has segmented the Europe immunoassay analyzers market on the basis of analyzers, end use, and region:

Based on the Analyzers Insights, the market is segmented into Enzyme Immunoassay (EIA) Analyzers, Radioimmunoassay (RIA) Analyzers and Other Analyzers.

The Enzyme Immunoassay (EIA) analyzers segment dominated the market and accounted for the largest revenue share of 63.9%. The segment is anticipated to witness the fastest CAGR during the forecast period.
Some of the major advantages of EIA analyzes are its high sensitivity, efficiency, and specificity without the need for radioactive substances, as the test is based on the antigen-antibody response. The ability to perform analysis simultaneously without a complex sample pretreatment is another factor facilitating its uptake across various applications.

Based on the End-use Insights, the market is segmented into Hospitals, Blood Banks, Clinical Laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers and Others.

In 2020, the hospitals segment dominated the market and accounted for the largest revenue share of 33.1%. The segment is anticipated to maintain its dominance over the forecast period. The large share can be attributed to the high demand for immunoassay products in hospitals with increased hospitalizations due to chronic and infectious diseases.
The diagnostic laboratories segment is anticipated to exhibit the fastest growth due to the growing number of diagnostic laboratories, especially in emerging economies due to fast and cost-effective testing services.

Key Companies Profile

Key players are undertaking extensive strategic initiatives in the field of immunoassay analyzers, including mergers and acquisitions, new product development, and regional expansion, to address the unmet needs of patients.

Some prominent players in the global Europe Immunoassay Analyzers market include

Siemens Healthineers
bioMérieux SA
Abbott Laboratories
Danaher Corporation (Beckman Coulter)
Quidel Corporation
Ortho Clinical Diagnostics
Sysmex Corporation
Bio-Rad Laboratories, Inc.
Becton, Dickinson and Company
Hoffmann-La Roche AG
Thermo Fisher Scientific, Inc.

Order a free sample PDF of the Europe Immunoassay Analyzers Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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