Immunoassay Market - Major Strategies Adopted by Players in the Market

The immunoassays market is expected to reach USD 27.15 Billion by 2023 from USD 20.19 Billion in 2018, at a CAGR of 6.1%.

The
immunoassays market is consolidated in nature due to the presence of a
large number of players. Key players in the market include Abbott
Laboratories (US), Roche (Switzerland), Siemens (Germany), Danaher
Corporation (US), DiaSorin (Italy), Ortho Clinical Diagnostics (US),
Thermo Fisher Scientific (US), QIAGEN (Netherlands), Becton, Dickinson
and Company (US), Bio-Rad Laboratories (US), Merck (Germany), Agilent
Technologies (US), Quidel Corporation (US), PerkinElmer (US), Mindray
(China), and Bio-Techne Corporation (US).

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The
key strategies followed by most companies in the immunoassays market
are product launches and partnerships, collaborations, & agreements.
These strategies accounted for the largest share of the overall growth
strategies mapped from 2015 to 2018 (till March). Some of the leading
players who adopted these strategies include Roche (Switzerland), Abbott
Laboratories (US), Danaher Corporation (US), bioMérieux (France), and
Sysmex Corporation (Japan).

In 2017, Roche was the leading player
in the immunoassays market. This position of the company can be
attributed to its wide product portfolio, which includes clinical
chemistry and immunochemistry solutions, molecular diagnostic products,
tissue diagnostic instruments, reagents, and kits. Under its flagship
brand, Cobas, the company offers a variety of IVD instruments, reagents,
and kits that are widely used by end users across the globe. The
company also has a wide geographic presence, spanning North America,
Europe, the Middle East and Africa, and Asia, which enables it to cater
to customers across the globe. The company mainly focuses on product
launches and strategic partnerships and collaborations to maintain its
leadership position in the market. For instance, in July 2015, the
company launched its Elecsys HTLV-I/II immunoassay test which detects
antibodies against Human T-lymphotropic virus I or II infection in
routine diagnostic samples and donated samples.

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Abbott
Laboratories accounted for the second-largest share of the immunoassays
market in 2017. With the acquisition of Alere, Inc. (US) in 2017, the
company was able to enhance its presence in the immunoassays market.
With the completion of this acquisition, Abbott strengthened its
diagnostics portfolio and established itself as a leading player in the
point-of-care testing and immunoassays market. The company is presently
focusing on developing next-generation instrument platforms, such as the
PLEX-ID platform and other advanced patient self-testing technologies.
Moreover, Abbott Laboratories is also involved in partnerships and
collaborations activities to maintain its leading position in the
market. For instance, in August 2017, the company partnered with North
West London Pathology (UK) to supply all analytical equipment and
consumables, including Abbott’s Alinity ci and Alinity h series
diagnostic instruments as well as their professional services and
informatics solutions known as AlinIQ.