Automated Immunoassay Analyzers Market Trends

Growth Drivers:

• Chronic diseases on the rise: The rising prevalence of chronic disorders, including diabetes and cardiovascular diseases, has become a key driver in the automated immunoassay analyzers market. These conditions require periodic monitoring and immunoassay analyzers provide accurate results in due time, enhancing patient management. For instance, diabetes cases are expected to increase from 529 million to 1.3 billion by 2050, according to an Institute for Health Metrics and Evaluation report released in June 2023.
• Technological development: Technological innovations, coupled with the integration of artificial intelligence and automation in immunoassay analyzers, have become one of the main factors contributing to the growth of this market. These new technologies have improved the flexibility and convenience of diagnosis by increasing the speed and accuracy of a diagnosis, thus bridging the access and affordability gaps in diagnostics. A point to note here is the recent strategic investment by bioMérieux in Proxim Diagnostics regarding the development of the Profile System for fully automated immunodiagnostics in March 2023.
• Government initiatives and funding: Governments across the globe are increasingly recognizing the importance of advanced diagnostic tools in public health management. Therefore, funding and policy support for the adoption of automated immunoassay analyzers further accelerate market growth. In January 2023, the U.S. Department of Energy announced an investment of USD 118 million toward developing sustainable biofuels, which indirectly support the diagnostic market by improving overall healthcare infrastructure and accessibility.

Challenges

• Regulatory hurdles: The stringent regulatory environment surrounding the approval of diagnostic devices poses a significant challenge for market growth. Companies are bound to navigate complex approval processes, which can delay the launch of new products. For instance, the European In Vitro Diagnostic Medical Device Regulation, enforced in June 2023, has introduced stricter compliance requirements, slowing down the market entry for some automated immunoassay analyzers.
• Supply chain disruption: The global medical device supply chain, including automated immunoassay analyzers, has taken a great deal of damage from geopolitical tension and living through pandemics. Disrupted supply chains delay manufacturing and distribution processes, thus affecting market growth. A report from the World Health Organization in May 2023 indicated that supply chain issues in the healthcare sector have resulted in stockouts of critical diagnostic tools, including immunoassay analyzers, mainly in low-income and middle-income countries.