Chemiluminescence Immunoassay Market CAGR of 6.0% From 2017 to 2025

The global chemiluminescence immunoassay (CLIA) analyzers market was valued over US$ 4.4 Bn in 2016 and is projected to register cumulative annual growth rate (CAGR) of over 6.0% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled "Chemiluminescence Immunoassay (CLIA) Analyzers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025". The report suggests that rising demand for international accreditations and result comparability by using high-throughput automated immunoassays is spurring the growth of chemiluminescence immunoassay (CLIA) analyzers in coming years (2017 to 2025). The North America and Europe are projected to dominate the global chemiluminescence immunoassay (CLIA) analyzers market in the coming years owing to increase in manufacturer focus for business expansion in these regions. Players are continuously developing multiplexed assay platforms and entering into distribution agreements to fortify their footprints in the North American and European markets. Growing adoption of technologically advanced products manufactured by local manufacturers like Shenzhen New Industries Biomedical Engineering Co., Ltd. is likely to drive the Asia Pacific chemiluminescence immunoassay (CLIA) analyzers market. The Asia Pacific chemiluminescence immunoassay (CLIA) analyzers market is expected to witness CAGR of over 6.5% from 2017 to 2025

Reagents Dominates the Market Followed by Automated Analyzers

The report offers detailed segmentation of global chemiluminescence immunoassay (CLIA) analyzers market based on product, application, and end-user. Among the product segment, reagents segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the reagent segment in the global market include frequent replacements leading to increasing usage of reagents when compared to analyzer platforms. Automated analyzers segment is likely to register comparatively higher growth rate in terms of value in the global chemiluminescence immunoassay (CLIA) analyzers market during the forecast period owing to continuous innovations in the product technologies by major market players.

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Endocrine Disorders & Oncology: Top Two Application Areas of Chemiluminescence Immunoassay (CLIA) Analyzers

Among applications, endocrine disorders segment is projected to hold dominant share of global chemiluminescence immunoassay (CLIA) analyzers market during the forecast period and is likely to expand at CAGR more than 6.0% from 2017 to 2025. Major factors responsible for the dominance of this segment are continuous innovations in test offerings and wide product portfolio of major as well as local manufacturers. For instance, in January, 2017, the world’s first assay to measure free vitamin D was introduced by Future Diagnostics Solutions and DIAsource Immunoassays SA (Anteo Group). Such continuous new product launches, along with exponentially rising patient base in developed as well as developing countries are likely to drive the segment between 2017 and 2025. According to the National Institute of Diabetes & Digestive and Kidney Diseases in the U.S., nearly 4.6% of the U.S. population suffers from hypothyroidism, which highlights the significant need for advanced testing methods to diagnose the endocrine disorder. Hepatitis and retrovirus segment, accounted for more than 10.0% share of global chemiluminescence immunoassay (CLIA) analyzers market in 2016, in terms of value. It is anticipated to have substantial growth and account for approximately 12.0% of market share by 2025.

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Growth of the Asia Pacific Chemiluminescence Immunoassay (CLIA) Analyzers Market Likely To Be Hinged At China, India

In terms of value, North America is likely to continue its dominance in the global chemiluminescence immunoassay (CLIA) analyzers market throughout the forecast period, owing to significant average selling prices of automated chemiluminescence immunoassay analyzers, rising demand from physicians for technologically advanced diagnostic instruments with enhanced specificity and precision, and favorable coverage as per the Clinical Laboratory Improvement Amendments for in-vitro diagnostic procedures in the region. Latin America and Middle East & Africa are relatively untapped markets having high growth potential. The governmental cap on prices of analyzers and group purchasing policies by major multispecialty hospital chains in this region is further increasing adoption of rental CLIA analyzers in these regions. Middle East & Africa chemiluminescence immunoassay (CLIA) analyzers market is characterized with significant population base demanding affordable care, and rise in governmental initiatives for early diagnosis of these chronic diseases. For instance, as per UNAIDS publication in 2016, nearly 65% of the world’s HIV infected population are present in this region.

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Transparency Market Research (Tmr) is a U.S.-based provider of syndicated research, customized research, and consulting services.