The Global Enzyme Linked Immunosorbent Assay Market Growth Accelerated By Expanding Applications

 

Enzyme Linked Immunosorbent Assay (ELISA) technology provides various benefits including high specificity and sensitivity for detecting target analytes or biomarkers. ELISA kits find widespread applications in research, diagnostics, food and beverage testing, and other areas. The growing prevalence of chronic and infectious diseases has increased the demand for ELISA as a diagnostic technique. Furthermore, expanding applications of ELISA kits in drug and therapeutics development, personalized medicine, and other fields are propelling the ELISA market growth.

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 key trends:
The expanding applications of ELISA technology is one of the key trends driving the market growth. Traditionally used for research and diagnostics, ELISA kits are now increasingly finding applications in other fields such as food testing, environment monitoring, and drug development. For instance, ELISA kits are being used to detect allergens, hormones, toxins, and other chemical contaminants in food and environment. Furthermore, emerging applications in new technology areas such as aptamer-based ELISA and alpha screening are boosting the market expansion. Growing R&D spending by biotechnology companies and research institutes to develop new ELISA kits is further propelling the market trajectory over the forecast period.

Segment Analysis
The global Enzyme Linked Immunosorbent Assay (ELISA) market is dominated by ELISA kits product segment. ELISA kits provide reagents and accessories required to perform ELISA testing in a ready-to-use kit format. ELISA kits save time and effort required for preparing reagents and buffers from individual raw materials. They offer convenience and ensure accuracy and reproducibility of results when performed strictly according to the manufacturer's instructions. This makes ELISA kits the highest revenue generating segment in the Enzyme Linked Immunosorbent Assay market.

Key Takeaways
The global Enzyme Linked Immunosorbent Assay market is expected to witness high growth. 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 accounts for the largest share in the global ELISA market owing to factors such as increasing prevalence of chronic diseases, rising healthcare expenditure, growing biotechnology and pharmaceutical industries, and early new product adoption. Asia Pacific region is expected to witness the highest CAGR over the forecast period. India and China in Asia Pacific are likely to drive market growth due to expanding patient pool suffering from various diseases like HIV/AIDS, hepatitis, diabetes, tuberculosis and growing demand for diagnostic techniques from the pharmaceutical industry.

Key players
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. Thermo Fisher Scientific and Bio-Rad Laboratories are dominant players in the global ELISA market owning to their diverse ELISA product portfolio and global presence.

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