Rise in the prevalence of chronic & infectious diseases over the past decade and growing elderly population across the world have heightened the demand for early diagnostic services. This, in turn, has increased the demand for immunoprotein diagnostic testing services in more than one way. At the same time, high-end technological advancements in immunodiagnostic devices and instigation of innovative automated solutions have supplemented the market growth even more.
According
to Allied Market Research, the global immunoprotein
diagnostic testing market is projected to showcase a striking CAGR from 2020 to 2027. Disability-adjusted
Life Years, also referred as DALYS, is an implement to gauge the extent of
diseases. It defines the years gone down to certain diseases. The economies
below twenty thousand per one lakh DALYS are deemed to be healthy. In 2017, the
sub-Saharan African province was clocked in with about eighty DALYS per one
lakh individuals.
In keeping with the US Census Bureau, on the other hand, in
the USA, approximately more than fifty million individuals were at the age of sixty-five
or above in the year 2018. And, since the elderly population remains at greater
risk to deal with chronic syndromes, owing to their feebler and immune system, the
market for immunoprotein diagnostic has been impacted positively. Moreover,
about a quarter of the geriatric population have been identified with type II
or type III diabetes, and the number is anticipated to escalate steadily in the
years to come, as stated by the NIDDK. This, quite naturally, heightens the
need for early recognition of diseases so that the required treatment can be
taken hold of. This way, a lot of new avenues have been opened for the market
players in the immunoprotein diagnostic industry.
“The growth of the global immunoprotein diagnostic testing market is propelled by increase in incidence & prevalence of infectious and chronic diseases, rise in geriatric population, and growth in demand for early diagnostic services. In addition, technological advancements in immunodiagnostic instruments and introduction of novel automated systems are all set to augment the growth of the immunoprotein diagnostic testing market during the forecast period.”
Rise
in healthcare expenditure, increase in per capita income, growth in demand for
healthcare services from large pool of patient population, and improvement in
healthcare infrastructure. The major players operating in the immunoprotein
diagnostic testing market include Abbott Laboratories, Abcam PLC, Bio-Rad
Laboratories, Danaher Corporation, Diasorin, Enzo Life Sciences, Ortho Clinical
Diagnostics, Roche Diagnostics, Siemens Healthcare, and Thermo Fisher
Scientific.
Covid-19 scenario-
Here, it’s worth mentioning that although there were certain challenges including disrupted supply chain measures, trade bans etc. across the world, especially during the initial phase of the Covid-19 pandemic, the impact has mainly been positive for the immunoprotein diagnostic testing sector. And, the reason’s been quite simple. Rising demand for products used in the detection of COVID-19 has led the majority of pharmaceutical establishments to appeal for emergency-use approval for diagnostic assays & kits so as to cope up with the pandemic scenario. This has intensified the demand for diagnostic testing all over the globe, thus boosting the immunoprotein diagnostic testing market growth significantly.
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