Fluoro Enzymatic Assays Market is Segmented By Product (Software & Services, Reagents & kits, Analyzers/Instruments), By Application (Cardiology, Oncology, Cardiology, Infectious diseases, Bone and mineral, Toxicology, Autoimmunity, Endocrinology, Neonatal screening, Hematology), By End-User(Hospitals, Laboratories, Pharmaceuticals Industries, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) â Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Fluoro-Enzymatic Assays Market is Expected to reach at a CAGR of 18% during the forecast period (2024-2031).
Fluoro enzymatic assays are a biochemical technique used primarily in immunology to detect the presence of an antigen or antibody in a sample. Fluoro enzymatic assays are used in pathology and medicine and a quality-control test in a variety of industries. It is primarily used to measure drugs, specific proteins, hormones, tumor markers, and cardiac injury markers.
Fluoro Enzymatic Assays Market Report Scope
Metrics |
Details |
Market CAGR |
18% |
Segments Covered |
By Product, By Application, By End-User, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
Fluoro Enzymatic Assays Market Dynamics
Fluoro enzymatic assays market has grown with the rising prevalence of chronic and infectious diseases. Additionally, the growing elderly population is a major driver of the worldwide fluoro enzymatic assays market.
Increase in prevalance of blood borne diseases in the market will drive the market growth
Rising instances of infectious diseases such as neurological disorders, hepatitis, dengue fever, cancer, and AIDS are expected to increase the global market demand for fluoro enzymatic tests. Leading players are increasing their R&D activities to develop and introduce technologically advanced kits and unique equipment for antibody detection. Bio-Rad Laboratories Inc., for example, developed a blood-based immunoassay kit to detect antibodies to the coronavirus SARS-CoV-2 on April 7, 2021. Fluoro enzymatic assays are also growing due to improved immunoassay technology and immunoassay products. The popularity of immunoassay kits/products is increasing globally due to chronic diseases such as diabetes, cardiovascular disease, and cancer. According to the National Cancer Institute's study The Burden of Cancer in the United States, roughly 1,806,590 cancer cases were registered in the United States in 2020, with 606,520 cases being fatal. Medical experts have expanded their financing and commitment to developing immunoassay kits and instruments to recognize the importance of early diagnosis and detection of antibodies. As a result, demand will increase.
The world's senior population is rapidly increasing, with people aged 60 and up accounting for more than 10% of the population, a figure that is anticipated to rise to more than 20% by 2050. Compared to younger persons, the elderly population is more susceptible to infectious diseases. A range of infectious disorders afflicts the elderly, which compromise the host's response to infection. As a result, the need for infectious disease diagnostics among the elderly increases. The increasing development of the older population is predicted to increase the number of diagnostic tests, boosting global demand for fluoro enzymatic assays during the forecast period.
Lack of trained and skilled medical professionals is likely to hamper the market growth
The lack of trained and skilled medical professionals and awareness about disease diagnosis and treatment in the developing country are the major factors impeding the adoption of fluoro enzymatic assays. Evidence suggests that many professionals around the world are not properly trained to perform diagnostic procedures but are still engaged in testing and diagnostic services. Due to the absence of skilled medical professionals, false prescriptions are issued, putting people's health at risk. Furthermore, the stringent regulations imposed by regulatory bodies are a factor impeding the growth of the country's demand for fluoro enzymatic assays.
COVID-19 Impact Analysis
The COVID-19 pandemic has caused havoc in almost every industry. The healthcare systems have been harmed, and providing adequate medical care to all patients has become a major issue worldwide during the pandemic. The market first experienced demand and supply disruptions due to global regulations. Since fluoro enzymatic assays are commonly utilized to detect covid-19, the pandemic has shifted national healthcare priorities and investment, yet demand for fluoro enzymatic assays has skyrocketed. The kit is used to detect immune-protected persons who have been exposed. One of the most extensively used immunoassays in laboratories is the ELISA diagnostic test, a crucial supplemental test for COVID-19 diagnosis.
Fluoro Enzymatic Assays Segment Analysis
The oncology segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Due to the rising prevalence of cancer and technological advancements that can precisely diagnose disease-causing organisms, the oncology segment is expected to be the fastest-growing segment in the global fluoro enzymatic assays market during the forecast period. Tumor assays and biomarkers, for example, are widely used to reduce the global prevalence of cancer. Tumor biomarkers play a crucial role in cancer diagnosis and treatment, from identification, screening, and detection to monitoring progression.
According to the National Cancer Institute's study The Burden of Cancer in the United States, roughly 1,806,590 cancer cases were registered in the United States in 2020, with 606,520 cases being fatal. In 2018, there were 9.5 million cancer-related deaths and 18.1 million new cancer cases worldwide. By 2040, there will be 29.5 million new cancer cases per year, with 16.4 million cancer-related deaths. Thus this segment is going to rise in the forecast period.
Fluoro Enzymatic Assays Market Geographical Analysis
North America region holds the largest market share of Global fluoro enzymatic assays market
North America, accounted for the largest market share in 2020 of the global fluoro enzymatic assays market owing to well-developed healthcare infrastructure and increasing penetration of medical equipment in the region, the United States is the most dominating country in the worldwide fluoro enzymatic assays market. The increased cancer incidence in the country is expected to increase demand for fluoro enzymatic assays. In the United States, cancer is the second largest cause of death. In the United States, approximately 89,500 cancer cases were diagnosed in adolescents and young adults (AYAs) aged 15 to 39 years in 2020, with around 9,270 cancer fatalities.
Furthermore, increased R&D investment by government organizations and pharmaceutical companies for diseases detection and treatment, such as chronic ailments and diabetes, is one of the primary drivers boosting the fluoro enzymatic assays market in the country.
Fluoro Enzymatic Assays Market Competitive Landscape
The fluoro enzymatic assays market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Siemens Healthineers, BioMerieuxx,Becton, Dickinson &Company,Abbott laboratories, Danaher Corporation,Roche Diagnostics,Ortho Clinical Diagnostics, Thermo Fisher Scientific ,Inc, Sysmex Corporation, Quidel Corporation.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the blood and blood products market globally. For instance Quidel's Sofia 2 Lyme+ FIA product received CE mark approval in December 2018. Quidel Corporation is a major American manufacturer of diagnostic healthcare products. The product is intended for use with a fluorescent immunoassay analyzer, Sofia 2.
Key Developments
- Agilent Technologies Inc. launched the Agilent Dako SARS-CoV-2, IgG Enzyme-Linked immunosorbent assay kit in February 2021. It was created to find immunoglobulin G antibodies to SARS-CoV-2 in human plasma.
- In April 2021, Bio-Rad Laboratories Inc. unveiled a blood-based immunoassay kit to detect antibodies to the SARS-CoV-2 coronavirus.
- In April 2021, Roche Diagnostics has introduced the Elecsys Anti-p53 immunoassay for the in vitro quantitative analysis of anti-p53 antibodies to aid in the diagnosis of various cancers.
Roche Diagnostics
Overview: F. Hoffmann-La Roche AG, also known as Roche, is a Swiss multinational healthcare company with two divisions: pharmaceuticals and diagnostics. Roche Holding AG, its holding company, has bearer shares listed on the SIX Swiss Exchange. The company's headquarters are in Basel. Molecular diagnostics, patient self-testing clinical chemistry and immunoassays, point of care testing tissue diagnostics, next-generation sequencing, laboratory automation and IT, and decision support are all covered by Roche Diagnostics.
Product Portfolio:
Elecsys Anti âP53: Anti-p53 Elecsys Anti-p53 immunoassay quantifies anti-p53 autoantibodies in human serum and plasma in vitro. Elecsys Anti-p53 is a high-precision immunoassay with a quick turnaround time for testing, and it's a great addition to our tumor marker collection. The Elecsys Anti-p53 immunoassay is compatible with cobas e immunoassay analyzers and is based on the well-known electrochemiluminescence immunoassay "ECLIA" technology.
Frequently Asked Questions
What is the Projected CAGR value of the Fluoro Enzymatic Assays Market?
Fluoro Enzymatic Assays Market is expected to grow at a CAGR of 18% during the forecasting period 2024-2031.
Which region controlled the global market during 2024-2031?
North America region Controls the Fluoro Enzymatic Assays Market during 2024-2031
Which is the fastest growing region in the Fluoro Enzymatic Assays Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period