Immuno Chemistry Reagents, Analyzers and Test Kits

March 29, 2011 - PRLog -- The global immunochemistry market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.9% over the period 2010–2017. The global immunochemistry market had revenues of $14.6 billion in 2010, which will rise to around $21.8 billion in 2017. Demand for automation and increase in testing demand, mainly due to increasing elderly populations around the world, will drive the market. High incidences of cancer and cardiovascular diseases globally will fuel the demand for better Disease Specific Immunochemistry tests. Immunochemistry market is attracting high investment from Private Equity (PE) and Venture Capitalist (VC) firms, indicating growth potential of the market. There is growing application of the latest technologies in the field of immunochemistry, which is leading to the miniaturization of testing equipment and other products; and this will affect market dynamics in the future.

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The market growth in immunochemistry is significant due to the high demand for automation of procedures in laboratories and diagnostic centers. Automation is already in place in the laboratories of developed nations, but is in high demand in developing nations. Streamlining of workflow and faster delivery of results will be critical for laboratories as the volume of tests they deal with is consistently increasing. Consolidation of laboratories has been taking place in developed countries for more than a decade but has been recently picking up in emerging economies such as India and China. In July 2010, Super Religare Laboratories purchased Piramal’s pathology and radiology diagnostic services subsidiary, Piramal Diagnostic Services Private Limited, for $129m. Super Religare will operate 185 laboratories after this collaboration and have 1,500 patient collection centers serving 12 million patients per year. The growth of the immunochemistry market in developed nations is mainly due to increases in their elderly populations, which is increasing the demand for testing. Incidences of chronic diseases are rising, especially for cardiovascular diseases and cancer. This creates demand for diagnostics, which in turn fuels the demand for testing equipment.

GlobalData’s new report, “Immuno Chemistry Reagents, Analyzers and Test Kits - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global immunochemistry market. The report provides market landscape, competitive landscape and market trends information on the immunochemistry market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.

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