Immunoprotein Diagnostic Testing Market Size

Immunoprotein Diagnostic Testing Market Analysis

The Immunoprotein Diagnostic Testing Market size is estimated at USD 8.04 billion in 2024, and is expected to reach USD 10.69 billion by 2029, growing at a CAGR of 5.88% during the forecast period (2024-2029).

COVID-19 had a substantial effect on the market's expansion. Effective individual COVID-19 infection diagnosis was urgently necessary due to increased cases and significant mortality. Using immunoglobulin tests in the COVID-19 condition was effective for better disease diagnosis. Furthermore, the new research studies of immunoglobulin diagnostic tests will help the market to grow over the coming years. For instance, according to the report published by Virology Journal, in February 2022, the study evaluates and compares the six antibody assays and two combination assays for COVID-19 diagnosis. According to the result of the study, people should use highly sensitive assays as frequently as feasible for epidemiological surveillance of COVID-19 infection. Thus, the new research studies over the coming years will impact the market positively and are expected to have stable growth over the post-pandemic era.

The immunoprotein diagnostic testing market will grow due to the growing burden of chronic diseases and technological advancements related to the products. The rising prevalence of chronic diseases like diabetes will significantly impact the immunoprotein diagnostic testing market as the test can differentiate type 1 diabetes and latent autoimmune diabetes in adulthood. For instance, as per the 2022 JDRF, it is estimated about 8.7 million people are living with type 1 diabetes around the world. Similarly, as per the report published by Lancet Diabetes & Endocrinology in October 2022, it is estimated that by 2040, there will be 13.5-17.4 million cases of type 1 diabetes around the world. Thus the increase in the prevalence of chronic issues increases the demand for immunoprotein diagnostic tests, which will drive the market over the forecast period.

Furthermore, the government provides few surveillance programs for antibody tests, which can significantly impact the market. For instance, in August 2021, the United Kingdom Health Security Agency launched an antibody surveillance program across the UK for the general public. It improves understanding of the protection provided by antibodies generated following COVID-19 infection and vaccination. For the evaluation of the antibodies, immunoprotein diagnostic tests need to get conducted to evaluate the antibodies.

Hence, these expensive techniques will impede market growth over the forecast period.