Immunoassay Market Research by Type, Share, Application and Forecast Till 2027
Immunoassay Market 2022 The global Immunoassay Market Research accounted for USD 18,626.7 million in 2018 and is projected to register a CAGR of 5.9% over the forecast period. Immunoassay is a biochemical test that relies on biochemistry to measure the presence and concentration of an analyte (protein, lipid, nucleic acid, among others) in solution (serum, urine, etc.) by using antibody-antigen reactions. Some of the factors characterizing the market growth are rising R&D expenditure in the healthcare sector, rising prevalence of chronic and infectious diseases, increasing adoption of immunoassay, technological advancements in immunoassay instruments and the introduction of novel automated systems, and surging elderly population across the world. For instance, the World Health Organization (WHO) reported that global elderly population was 841.0 million in 2013, increased to 962.3 million in 2017, which is projected to reach more than 2.0 billion by the end of 2050. In contrast,