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Immunoassay is a technique of measurable determination of chemical substance such as specific protein, hormones and drugs, which employs the highly precise binding between the antigen and antibody. The global immunoassay market is growing at significant rate, due to mounting occurrence of chronic and infectious diseases and technological improvement in the instruments. Different product and services contributed to the immunoassay market size. The market has witnessed high demand for kits and reagents over the last few years due to mounting number of immunoassay tests and mounting occurrence of chronic and infectious diseases.
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The strict regulatory requirements for the sanction of immunoassay instruments and consumables, employment of excise duty on the sale of medical devices in the U.S. complexities in conducting diagnostic tests and unfavorable compensation scenario are the major challenges for the growth of immunoassay market.Globally, the manufacturing companies trying to enter the immunoassay market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest prefilled syringe market as in the region the prevalence of chronic disease and infectious diseases is increasing. Accessibility of government assets, mounting usage of immunoassays in clinical diagnostics, improved healthcare infrastructure, and the existence of key players are also up surging growth of the North American immunoassay market.
Asia-Pacific is observed to witness fastest growth in the market, as the region comprises of large population base. In addition, mounting occurrence of infectious diseases and chronic diseases and refining healthcare infrastructure are also creating a positive impact on the immunoassay market growth in the region.
Key players in the immunoassay market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In June 2016, Roche launched the cobas e 801 module, a testing immunoassay solution, in order to meet the demand for increased diagnostic testing. Roche, Agilent Technologies, Abbott Laboratories, Thermo Fisher Scientific, Siemens, QIAGEN, Danaher, Ortho Clinical Diagnostics, Sysmex, Bio-Rad Laboratories, BioMérieux, Becton, Dickinson & Company, and Mindray are the key players offering immunoassay.
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