by Enzyme linked immunosorbent assay (ELISA) is an effective, sensitive and widely adopted method for detecting and measuring target proteins and peptides in biological samples. Some key applications of ELISA include cancer diagnosis and screening, HIV screening, sports drugs testing and other diagnostic tests. ELISA techniques have made diagnostics efficient, economical and less labor intensive. The global ELISA market offers kits, reagents and analyzer instruments to deliver reliable detection capabilities for various disease biomarkers. The rising incidence of chronic and infectious diseases has significantly increased diagnosis volumes, thus driving the ELISA market 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 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the major trends in the enzyme linked immunosorbent assay market is the increasing demand for multiplex ELISA technology. Multiplex ELISA allows detection of multiple protein biomarkers in a single sample simultaneously. Since many diseases involve changes in multiple protein biomarkers rather than a single biomarker, multiplex ELISA provides more accurate disease detection compared to conventional single-plex ELISA. Major companies in this market are focusing on developing high-plex ELISA kits and analyzers to facilitate multi-marker disease screening. This trend is expected to continue in coming years with advancement in multiplexing technologies.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the ELISA market has high startup costs. However, specialized knowledge and technology are barriers to entry.
Bargaining power of buyers: The bargaining power of buyers is high as buyers have many choices of suppliers to choose from. Buyers can negotiate on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. There are many suppliers for inputs like reagents and equipment. Suppliers do not have pricing power over molecule manufacturers.
Threat of new substitutes: The threat of substitutes is moderate as new technologies like RT-PCR pose competition. However, ELISA is well established and remains the gold standard for many applications.
Competitive rivalry: Competition is intense as many large players operate globally. Players compete on technology, innovation, pricing and service.
Key Takeaways
The global Enzyme Linked Immunosorbent Assay market Growth 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 8.8% over the forecast period 2023 to 2030.
North America currently dominates the market and is expected to continue its dominance over the forecast period. High prevalence of chronic and infectious diseases and strong healthcare research funding are key growth drivers in the region. Asia Pacific is expected to be the fastest growing region in the ELISA market. Increasing healthcare expenditure, strict regulations regarding food testing and rising cases of chronic diseases are driving demand. China and India are emerging as lucrative markets.
Key players related content comprises: Key players operating in the Enzyme Linked Immunosorbent Assay market are DSV, a.p. moller – maersk, United Parcel Service of America, Inc., XPO Logistics Inc., DHL International GmbH, Kuehne+Nagel Inc., Geodis, FedEx Corporation, C.H. Robinson Worldwide, Inc., db schenker. These players are focusing on new product launches and acquisitions to strengthen their market position.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
