The Global Enzyme Linked Immunosorbent Assay Market is Anticipated to Witness High
restraints such as high capital requirements for automated systems may limit market expansion to some extent over the coming years.
Growth Owing to Increasing Demand for Disease Diagnosis
Enzyme linked immunosorbent assay (ELISA) is a popular analytical biochemistry technique used mainly for detecting and measuring proteins, antibodies and hormones in blood and biological fluids. ELISA uses antibodies and color changing enzymes to detect the presence of proteins or antigens in a biological sample such as blood or urine. The technique provides an accurate quantitative measurement with minimal need for specialized equipment. The growing prevalence of chronic and infectious diseases worldwide has increased the demand for rapid and affordable diagnostic techniques like ELISA.
Enzyme Linked Immunosorbent Assay (ELISA) Market is estimated to be valued at US$ 2,016.1 million in 2022 and is expected to exhibit a CAGR of 5.1% during the forecast period (2022-2030).
Key Takeaways
Key players operating in the enzyme linked immunosorbent assay market are Thermo Fisher Scientific, BD Biosciences, Roche Diagnostics, Bio-Rad Laboratories, Danaher Corporation and Merck KGaA among others.
The growing adoption of point of care testing and advantages of Enzyme Linked Immunosorbent Assay Market Demand over other diagnostic techniques are fueling the demand for ELISAs especially in developing regions.
Key players are expanding their geographic reach by strengthening their distribution networks across global markets to capitalize on opportunities offered by emerging economies in Asia Pacific and Latin America.
Market Drivers
Increasing prevalence of chronic and infectious diseases such as HIV/AIDS, cardiovascular diseases, diabetes is a major factor driving the growth of the ELISA market. ELISA provides an affordable and convenient option for large-scale screening and disease diagnosis.
Advantages of ELISA over other diagnostic methods such as convenience, minimal infrastructure requirements and cost-effectiveness is boosting its adoption in disease diagnosis especially in point of care testing.
Market Restraints
ELISA procedures involve complicated incubation steps that require specialized temperature control equipment, skilled technicians to perform assays. This adversely impacts its adoption in resource-poor settings.
Variations in results between different manufacturers and lack of standardization are other limitations restricting the growth of the ELISA market.
Segment Analysis
This market can be broadly categorized into five key segments namely ELISA kits, reagents, consumables, instruments and services. Among them, ELISA kits segment accounts for the major share in global enzyme linked immunosorbent assay marketowing to high consumption of kits in research and diagnostic activities worldwide. Proteins, enzymes, peptides and other biomolecules are commonly detected using ELISA kits. Consumables segment such as microplates, buffers and strip holders is expected to grow at a significant rate during the forecast period. This growth can be attributed to increasing usage of consumables for conducting ELISA tests across various end use industries year on year.
Global Analysis
North America dominates the global ELISAMarketowing to expanding biomedical sector and rising incidence of chronic diseases in the region. Favorable regulatory environment and presence of global market leaders have boosted research activities in the region. On the other hand, Asia Pacific is anticipated to offer lucrative growth opportunities during the forecast period driven by rising healthcare expenditure, growing biotech industry and increasing investments by key players in emerging markets. Initiatives taken by national governments to encourage development of indigenous medical diagnostics capabilities have bolstered regional market growth rate. China and Japan are fast emerging lucrative markets in Asia Pacific. In terms of production and consumption, Europe is one of the prime regional markets for ELISA worldwide. However, restraints such as high capital requirements for automated systems may limit market expansion to some extent over the coming years.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)