Global Serological Testing Market Size (2024 - 2029)

The serological testing market is projected to experience growth due to increasing global COVID-19 cases and rising healthcare expenditures, despite challenges such as a shortage of test kits. The market's expansion is supported by numerous companies introducing new products, enhanced research and development for COVID-19 analysis, and favorable government initiatives. Additionally, the high prevalence of infectious diseases like hepatitis, tuberculosis, and HIV/AIDS is driving demand for serological tests. However, stringent regulatory environments and reimbursement policies may hinder market growth.

Market Size of Global Serological Testing Industry

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Serological Testing Market Report
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.80 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration High

Major Players

Serological Testing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Serological Testing Market Analysis

The serological testing market is expected to register a CAGR of 8.8% over the forecast period, 2022-2027.

The serology testing market is driving due to the rising incidences of COVID cases across the globe, and growing healthcare expenditure. However, a shortage of serology test kits for the examination is expected to hamper the growth of the global serology testing market. Moreover, the presence of several market players offering their products, increasing R&D investments for COVID analysis kits, and the presence of supportive government initiatives for rising research in this arena are anticipated to drive demand for the growth of the market for serology testing. For instance, the NCI Serological Sciences Network (SeroNet) is the United States' largest coordinated effort to study the immune response to COVID-19. The network aims to develop, validate, improve, and implement serological testing and associated technologies. Such initiatives will be expected to drive market growth during the forecast period.

Serological tests are important as they offer an additional piece of information to aid in characterizing possible prior exposure to SARS-CoV-2, especially since many infections are mild or asymptomatic in severity. The test analyzes blood, serum, or plasma samples for the presence of immunoglobulin M (IgM) and Immunoglobulin G (IgG) antibodies associated with the coronavirus (SARS-CoV-2). The detection of COVID-19 IgM antibodies tends to indicate recent exposure to COVID-19, and detection of COVID-19 IgG antibodies indicates a later stage of infection, so this combined antibody test could also provide information on the stage of the disease in patients. Thus, an exponential rise in the number of COVID-19 cases globally is boosting the demand for serological testing.

Moreover, the increasing product launches by key players for detecting the COVID pandemic crisis are further responsible for the growth of the market. For instance, in March 2020, Becton, Dickinson and Company, and BioMedomics Launched Rapid Serology Test to Detect Exposure to COVID-19. The new test, developed and manufactured by BioMedomics, is available through BD and distributed exclusively by Henry Schein, Inc. to health care providers throughout the United States.

Also, in August 2020, Transasia Bio-Medicals launched a test kit called ErbaLisa COVID-19 IgG ELISA in the Indian market. Similarly, in August 2020, Promega Corporation announced the launch of its new serological antibody test for COVID-19 to detect the presence of antibodies against the SARS-CoV-2 virus. A positive result may indicate whether an individual has been exposed to, and mounted an immune response to, the virus. Thus, the novel product development and approvals for serological tests for a variety of bacterial and viral infections will provide growth opportunities for the serological testing market during the forecast period.

Furthermore, the higher cases of infectious diseases such as hepatitis, tuberculosis, and HIV/AIDS globally is acting as a leading driver for the serological testing market. The high prevalence of hepatitis C infection is one of the key factors that has widened the growth prospects of the target market. For instance, globally, an estimated 58 million people were having chronic hepatitis C virus infection, with around 1.5 million new infections occurring per year. Additionally, World Health Organization estimated that in 2019, approximately 290000 people died from hepatitis C, mostly from cirrhosis and hepatocellular carcinoma (primary liver cancer). Thus, the increasing cases of hepatitis will likely increase the demand for these diagnostic tests over the forecast period, thereby driving the market.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the Stringent Regulatory Scenario and Reimbursement Policies would impede the growth of the serological testing market during the forecast period. The lack of serology test kits for examination would pose a challenge to the growth of the market in the above-mentioned forecast period.

Serological Testing Industry Segmentation

As per the scope of the report, Serological testing is a type of medical testing that works on blood samples by testing the presence of antibodies against viruses. The blood of a person who has been exposed should be full of antibodies against the virus. The serological testing market is segmented by Technology (ELISA, NAT, CLIA/CMIA and Others), Product (Instruments and Consumables & Reagents), Application (Hepatitis, Coronavirus (COVID-19), Human Immunodeficiency Virus (HIV), Rotavirus infections, and Others), End-User (Diagnostic Laboratories, Hospitals and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Technology
ELISA
NAT
CLIA/CMIA
Others
By Product
Instruments
Consumables and Reagents
By Application
Hepatitis
Coronavirus (COVID-19)
Human Immunodeficiency Virus (HIV)
Rotavirus infections
Others
By End-User
Diagnostic Laboratories
Hospitals
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Serological Testing Market Size Summary

The serological testing market is poised for significant growth, driven by the increasing incidence of infectious diseases and the rising demand for COVID-19 testing. The market is experiencing a surge in demand due to the global health crisis, which has led to heightened healthcare expenditure and increased research and development investments in serological testing technologies. Despite challenges such as a shortage of test kits and stringent regulatory environments, the market is supported by numerous initiatives and collaborations aimed at enhancing testing capabilities. Key players in the industry are actively launching new products and technologies to meet the growing demand, particularly for COVID-19 antibody tests, which are crucial for understanding prior exposure and immune response.

The market's expansion is further fueled by the prevalence of chronic and infectious diseases, such as hepatitis, tuberculosis, and HIV/AIDS, which necessitate robust diagnostic testing solutions. The European region, in particular, is expected to hold a significant market share due to its well-established healthcare infrastructure and the increasing burden of chronic diseases. The introduction of novel serological tests and the ongoing development of advanced diagnostic kits are anticipated to provide substantial growth opportunities. As the market continues to evolve, the demand for reagents and consumables is also expected to rise, driven by their critical role in ensuring accurate and reproducible testing results.

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Global Serological Testing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Burden of Chronic Diseases

      2. 1.2.2 Implementation of Favorable Government Initiatives & External Funding for R&D Exercises

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulatory Scenario and Reimbursement Policies

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Technology

      1. 2.1.1 ELISA

      2. 2.1.2 NAT

      3. 2.1.3 CLIA/CMIA

      4. 2.1.4 Others

    2. 2.2 By Product

      1. 2.2.1 Instruments

      2. 2.2.2 Consumables and Reagents

    3. 2.3 By Application

      1. 2.3.1 Hepatitis

      2. 2.3.2 Coronavirus (COVID-19)

      3. 2.3.3 Human Immunodeficiency Virus (HIV)

      4. 2.3.4 Rotavirus infections

      5. 2.3.5 Others

    4. 2.4 By End-User

      1. 2.4.1 Diagnostic Laboratories

      2. 2.4.2 Hospitals

      3. 2.4.3 Other End Users

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Mexico

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United Kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Spain

        6. 2.5.2.6 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 Australia

        5. 2.5.3.5 South Korea

        6. 2.5.3.6 Rest of Asia-Pacific

      4. 2.5.4 Middle East and Africa

        1. 2.5.4.1 GCC

        2. 2.5.4.2 South Africa

        3. 2.5.4.3 Rest of Middle East and Africa

      5. 2.5.5 South America

        1. 2.5.5.1 Brazil

        2. 2.5.5.2 Argentina

        3. 2.5.5.3 Rest of South America

Global Serological Testing Market Size FAQs

The Global Serological Testing Market is projected to register a CAGR of 8.80% during the forecast period (2024-2029)

F. Hoffmann La-Roche Ltd, Thermo Fisher Scientific, Inc., Beckman Coulter, Inc., ELITechGroup and Becton, Dickinson and Company (BD) are the major companies operating in the Global Serological Testing Market.

Serological Testing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)