Market Trends of Enzyme-Linked Immunosorbent Assay Industry
This section covers the major market trends shaping the Enzyme-Linked Immunosorbent Assay Market according to our research experts:
Disease Diagnosis Application Segment is Expected to Hold a Major Market Share
The disease diagnosis segment is expected to hold a significant share due to the increasing application of enzyme-linked immunosorbent assay tests in diagnosing tumor antigens. According to the World Health Organization's key facts on cancer published in February 2022, around 400,000 children worldwide develop cancer every year. According to the GLOBOCAN 2020 report, the total number of people in the world affected by cancer in 2020 accounts for around 19,292,789 cases. The number is estimated to rise to 28,887,940 cases by 2040. According to the article published in Nature Scientific report in May 2020, ELISA can also be used to detect prostate cancer antigens and breast cancer antigens. This increase in cancer cases across the globe increased the demand for ELISA. It can serve as an effective tool for measuring cancer markers or antigens.
Also, according to the Global Tuberculosis Report 2021 published by the WHO, around 9.87 million people worldwide were estimated to be affected by tuberculosis in 2020. Also, the WHO, in its July 2022 key facts on HIV, estimated that around 38.4 million people worldwide would be affected by HIV by the end of the year 2021, with about 1.5 million new cases being registered in 2021 alone. Thus, the increasing cases of infectious diseases are expected to increase the demand for early detection, which is further expected to boost the segment's growth over the forecast period.
Moreover, in September 2022, PerkinElmer's Oxford Immunotec announced that the US FDA had approved using the T-Cell select reagent kit to automate its T-Spot. Cost-effective diagnosis coupled with the accuracy of detection in antigens increased the demand for ELISA and propelled the market's growth.
North America is Expected to Hold a Significant Share in the Market
Currently, North America dominates the market for enzyme-linked immunosorbent assay and is expected to continue its stronghold during the forecast period. The pandemic affecting the region has also increased the need for these immunoassays. The United States holds the largest market share in the North American region.
This can be attributed to the increasing incidence rates of chronic disorders, infectious diseases, and the increasing geriatric population, as well as the well-developed healthcare infrastructure and increasing penetration of medical devices in the region. Cancer is one of the leading causes of hospitalization in the United States. According to the GLOBOCAN 2020 report, the total number of people in the United States affected by cancer in 2020 accounts for around 2,281,658 cases. The number is estimated to rise to 3,123,452 cases by 2040. According to the National Diabetes Statistics Report, in 2020, about 37.3 million people in the United States were found to have diabetes; around 96 million adults were found to have pre-diabetes. The National Kidney Foundation 2020 estimated that about 36 million adults in the United States have chronic kidney diseases. A report by the CDC in 2020 showed that around 15.7 million Americans are affected by chronic lower respiratory diseases. Hence, with the increase in the prevalence of chronic diseases, there is an increasing demand for immunoassays, driving the market.
Moreover, high expenditure on R&D by government organizations and pharmaceutical companies for disorders and diseases, such as chronic ailments and diabetes, are some of the primary factors driving the regional market. For instance, as per Pharmaceutical Research and Manufacturers of America, the biopharmaceutical industry invested an estimated USD 102.3 billion in R&D in 2021.
Thus, all factors above are expected to boost the market in the region over the forecast period.
