The immunoassay diagnostics market is in the late growth stage of the market lifecycle. It is being challenged by a number of factors including the commoditisation of tests, growing laboratory networks and the heightened popularity of molecular tests in areas like infectious testing. However, unmet needs in the market are propelling companies to develop novel assays and differentiate themselves to stay ahead of the competition.
New analysis from Frost & Sullivan (drugdiscovery.frost.com) Strategic Analysis of the European Immunoassay Market, finds that the market earned revenues of $2.97 billion in 2008 and estimates this to reach $4.20 billion in 2015.
"The future of the European immunoassay diagnostics market depends on developing novel assays in areas such as cardiology, oncology and autoimmunity," notes Frost & Sullivan Industry Analyst Arun A.K. "Rapid and efficient tests to identify disease conditions are gaining enormous importance and will set the pace in the market."
The adoption of novel assays for critical testing areas is on the rise, compelling companies to identify new biomarkers and develop assays that are easy to perform. Companies are responding well to this challenge as more than 70 immunoassays are currently in various developmental stages.
However, the centralisation of non-STAT immunoassays, together with the formation of laboratory networks in Europe, is squeezing revenue returns in the market. This situation is intensifying competition in the already crowded marketplace.
"The market will experience increasing competition through 2015," cautions Arun. "It is important, therefore, to identify key growth areas and focus on achieving differentiation in order to stay ahead of the competition."
There has been a growing trend towards collaborations among life sciences companies, research institutes and laboratories. Such alliances have aimed to identify winning strategies for the rapid and successful commercialisation of biomarkers. This will enable companies to make strong gains.
"As the usefulness of a successful biomarker ranges from disease identification to drug discovery, an integrated collaborative approach between the compatible companies in similar areas of research will help distribute developmental costs," states Arun. "Such synergistic alliances will have a mutually beneficial impact on the partners, while effecting revenue growth."
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the strategic analysis of European immunoassay diagnostics market, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
Strategic Analysis of the European Immunoassay Market is part of the Drug Discovery & Clinical Diagnostics Growth Partnership Services programme, which also includes research in the following markets: European POC Connectivity Market, Western European IVD Markets, and Eastern European IVD Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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Strategic Analysis of the European Immunoassay Market