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Increase in Disposable Incomes in Emerging Countries like India and China to Boost the Immunoassays Market in the Future - New Revenue Pockets
Since its evolution in the early 1990s, the immunoassay instruments and reagents market has witnessed a tremendous change in terms of innovations. The Americas and Europe are established markets for immunoassays, while emerging countries such as Brazil, Russia, India, China, and other Asian countries are expected to form the new revenue pockets for this market. The fast-increasing spending power of these countries is the major driver for the growth of the immunoassays market. The ever-increasing population base, rising number of lifestyle diseases, high standard of living, growing demand for quality medicare services, increasing healthcare spending, and growing awareness about healthcare are factors that will also propel the market in these regions.
To capitalize on the favorable conditions in these developing economies and to gain a competitive edge in the global market, a number of tier-I companies are now investing in these countries. For instance, in July 2012, DiaSorin formed a joint venture with an Indian healthcare technology company, Trivitron Healthcare, to enter into the high-potential Indian diagnostics market.
Among the Asia-Pacific countries, China and India are expected to grow at the highest CAGRs during the forecast period. Moreover, the opportunities for growth of the immunoassays industry in ROAP (Singapore, Indonesia, Malaysia, Thailand, Australia, New Zealand, and other Asia-Pacific countries) are also high because of the increasing focus of key players on these countries.
The chemiluminescence immunoassays market is estimated to witness tremendous growth in the next five years as this market comprises of automated systems that offer the highest sensitivity. In addition, the infectious diseases, endocrinology, and oncology application segments of the immunoassays market are projected to see high-growth rates owing to the increasing incidences of these disorders.
Thus, the CLIA technology along with infectious diseases and oncology applications provide huge opportunities for established as well as new investors. Moreover, the APAC region opens new avenues for them to invest in as developed markets saturate gradually.
Immunoassay Market [Technology (Enzyme, Fluorescent, Chemiluminescence, Radioimmunoassay), Analyzers & Reagents, Applications (Infectious Diseases, Cancer, Endocrinology, Cardiology), End Users (Hospitals, Laboratory, Academics)] – Global Forecast to 2018.
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