Enzyme Linked Immunosorbent Assay (ELISA) is a technique used widely to detect the presence of antibodies, proteins and other biological substances. ELISA tests have applications in medical diagnosis, food safety testing, environmental monitoring and biological research. The global Enzyme Linked Immunosorbent Assay Market 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 key trends: The demand for early and accurate disease diagnosis has been propelling the growth of the Enzyme Linked Immunosorbent Assay Market. ELISA tests help diagnose diseases effectively by detecting the presence of antibodies, proteins and other markers associated with various infections and medical conditions. Their high sensitivity and specificity makes ELISA a popular diagnostic technique adopted by healthcare professionals and hospitals worldwide for diagnosing conditions like HIV, hepatitis, Lyme disease and certain cancers. This widespread application of ELISA in disease diagnosis is expected to drive the market expansion over the forecast period.
SWOT Analysis
Strength: Enzyme linked immunosorbent assay (ELISA) is a sensitive technique for detecting and quantifying proteins and other biomolecules in various biological samples. ELISA has high specificity and sensitivity which helps in accurate detection of analyte.
Weakness: ELISA technique requires specialized equipment and expert personnel for conducting the assays which increases the overall cost. Improper standardization and variability between labs hampers reproducibility of results.
Opportunity: Increasing R&D investments and rising prevalence of chronic and infectious diseases is driving the demand for ELISA. Growing point of care diagnosis offers growth opportunities.
Threats: Alternative technologies such as PCR and lateral flow assays are gaining traction which poses threat to ELISA market. Stringent regulations also pose challenges.
Key Takeaways
The global enzyme linked immunosorbent assay market share is expected to witness high growth over the forecast period of 2023 to 2030. The global Enzyme Linked Immunosorbent Assay Market 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.
North America held the largest share of the ELISA market in 2023 owing to the presence of majority of key players and growing biotechnology industry. Asia Pacific is anticipated to grow at the fastest pace during the forecast period due to increasing healthcare investments and expansion of diagnostic companies in emerging markets.
Key players operating in the ELISA market include Bio-Rad Laboratories, Inc., Enzo Life Sciences, Inc., Thermo Fisher Scientific, Inc., Biomerieux S.A. Thermo Fisher Scientific, Inc. accounts for the largest revenue share of over 25% in 2023. It offers a comprehensive portfolio of ELISA products along with reagents and instruments which has helped the company to strengthen its leadership position in the market. Increasing R&D efforts for new product development and expansion in emerging countries will allow key players to gain larger market share over the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
