Immunoproteins are a part of the defense mechanism of the human body; they indicate the characteristic serum concentration in abnormal situations. The concentration of immunoproteins is a major indicator for determination of a disease. Thus, the immunoprotein diagnostic testing market is growing at a fast pace owing to the growing prevalence of several diseases across the globe. As per a recently conducted research study by Transparency Market Research, in 2012, the global market for immunoprotein diagnostic testing was valued at around US$11 bn and is estimated to reach a value of US$15.3 bn by the end of 2019. This market is projected to exhibit a 5.70% CAGR between 2013 and 2019.
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Global Market for Immunoprotein Diagnostic Testing to Grow Significantly owing to Technological Advancements
The increasing demand for accurate, quick, and preventive healthcare in developing countries is the major factor that is projected to boost the demand from the immunoprotein diagnostic testing market in the next few years. Moreover, the commoditization of products, technological advancement, strengthening of distributor networks globally, and expansion in immunochromatography are some of the factors that are expected to fuel the growth of the market across the globe in the coming years.
On the other hand, the rising prices of diagnostics are the major factor hampering the growth of the global immunoprotein diagnostic testing market in the years to come.
The global immunoprotein diagnostic testing market is divided on the basis of technology into:
• Enzyme-Based Immunoassay
• Immunofluorescence Assay
• Immunoprotein Electrophoresis
• Immunoturbidity Assay
• Chemiluminescence Assay
Among all these segments, in 2012, the chemiluminecence assay segment accounted for the largest share in the global immunoprotein diagnostic testing market, owing to its sensitivity, feasibility for wide-scale application, safety, and easy use. On the other hand, the radioimmunoassay testing segment has been witnessing a drastic fall in its market share in recent years due to increased cost of devices, high exposure to radiation, and rigid regulations for healthcare. As a result, many clinicians and doctors are preferring safer and more effective tests, resulting in a waning of the radioimmunoassay testing segment.
Oncology Segment to be Valued at US$4.9 bn by 2019
The global immunoprotein diagnostic testing market is divided as per application into allergy testing, toxicology testing, endocrine testing, infectious diseases, autoimmune disease testing, and oncology testing. Among all these applications, the oncology segment dominates the overall immunoprotein diagnostic testing market in terms of revenue and is estimated to reach a value of US$4.9 bn by the end of 2019. This segment is expected to register a progressive 6% CAGR between 2013 and 2019.
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Some of the leading players operating in the global market for immunoprotein diagnostic testing market are Thermo Fisher Scientific, Inc., Omega Diagnostics Group PLC, Abbott Laboratories, Inc., The Binding Site Group, Fujirebio Diagnostics, Inc., Siemens AG, Enzo Life Sciences, Inc., Randox Laboratories Ltd., Roche Holding AG, Abcam PLC, and DiaSorin SPA.