Enzyme Linked Immunosorbent Assay (ELISA) refers to a plate-based assay technique designed for detecting and quantifying substances such as peptides, proteins, antibodies and hormones. It is widely used as a diagnostic tool in various therapeutic areas such as infectious diseases, endocrinology and oncology, amongst others. The technique relies on antigens-antibodies reactions to detect target molecules in a biological sample such as serum or plasma. It measures the presence or concentration of analytes through an enzymatic reaction that produces a change in color. Some common applications of ELISA based tests include diagnosing thyroid disorders, rheumatoid arthritis, hepatitis, HIV,Lyme disease and more.
The Global Enzyme Linked Immunosorbent Assay Market Size is estimated to be valued at US$ 2118.92 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The Enzyme Linked Immunosorbent Assay Market is expected to be flourished by rising prevalence of chronic diseases. According to estimates by World Health Organization (WHO), chronic diseases accounted for around 70% of all deaths globally in 2020. Cardiovascular diseases, diabetes, cancers and chronic respiratory diseases are amongst the top killing chronic illnesses resulting in 41 million deaths annually. The rising burden of these non-communicable diseases has translated into increased demand for various diagnostic tests including ELISA for disease screening and monitoring. Additionally, the introduction of innovative ELISA technologies promising improved sensitivity and specificity has been supplementing the market growth. For instance, microfluidic ELISA developed by researchers from Purdue University can detect biomarkers at significantly lower concentrations as compared to conventional ELISA kits. The miniaturized platform reduces the sample volume requirements and delivers results faster thus enabling point-of-care applications. Growth in biotherapeutics industry has also been propelling the ELISA market since the technique serves as an important tool for quantification of antibodies and proteins during biologics drug development, quality assurance and batch consistency testing.
Segment Analysis
The enzyme linked immunosorbent assay (ELISA) market is dominated by the Sandwich ELISA sub segment, accounting for over 50% of the total market share. The technology is highly accurate and provides detection of antibodies and proteins with high sensitivity. It has wide applications across various industries such as healthcare, veterinary, food & beverages and more.
PEST Analysis
Political: The ELISA market is positively impacted by supportive government policies and regulations for healthcare and research sector across major regions.
Economic: Rising per capita healthcare expenditure globally is driving demand for advanced diagnostic solutions like ELISA kits and systems.
Social: Increasing incidence of chronic and infectious diseases is creating need for early diagnosis using techniques like ELISA.
Technological: Continuous innovations in ELISA technologies focused on automation, miniaturization and high-throughput capabilities are supporting the market growth.
Key Takeaways
The global enzyme linked immunosorbent assay market is expected to witness high growth at a CAGR of 5.1% during the forecast period of 2023 to 2030.
Regional analysis indicates North America currently dominates the market and is expected to remain the highest revenue generating region over the coming years. The region has presence of key players as well as advanced healthcare infrastructure.
Key players operating in the enzyme linked immunosorbent assay market are Bio-Rad Laboratories, Inc., Enzo Life Sciences, Inc., Thermo Fisher Scientific, Inc., Biomerieux S.A., Alpco, BioLegand, Inc., R&D Systems, Creative Diagnostics, Zeus Scientific, Inc., and Shenzhen YHLO Biotech Co., Ltd. The key players are focusing on new product launches with advanced features to strengthen their market position.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
