Immunoassay Market Size

Immunoassay Market size was valued at USD 36.75 billion in 2024 and is expected to reach USD 74.63 billion by 2037, expanding at around 5.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of immunoassay is assessed at USD 38.4 billion. The growth of the market is set to be dominated by the rising prevalence of infectious diseases such as COVID-19. Across the globe, over 767 million cases of Covid-19 were recorded as of June 13, 2023. Hence, the demand for immunoassay is also predicted to rise. This is because to detect both IgM and IgG against SARS-CoV-2, the immunoassay has been significantly researched as a point-of-care (POC) test.

Moreover, the immunoassay market is also surging on account of growing demand for point-of-care diagnostics throughout the forecast period. This rise in demand for point-of-care diagnostics is primarily influenced by the escalating demand for quick and efficient solutions for diagnostics in diverse healthcare settings. Point-of-care diagnostics, distinguished by their directness and convenience, resonate with advanced healthcare dynamics, boosting a paradigm move in the management of patients. Immunoassays which are studied for their specificity and sensitivity, appear as crucial contributors to this paradigm move, aligning continuously with the need for point-of-care applications.