May 22, 2024

Enzyme Linked Immunosorbent Assay Market is Estimated to Witness High Growth Owing to Rising Chronic Diseases Prevalence

Enzyme linked immunosorbent assay (ELISA) is a technique used for detection and quantification of proteins, peptides, antibodies and hormones in biological samples. It has widespread applications in clinical diagnostics, nutrition research and quality control. The increasing prevalence of chronic diseases like cancer, diabetes and cardiovascular disorders is augmenting the demand for ELISA-based kits and reagents for accurate detection and identification of biomarkers associated with those diseases.

The Global Enzyme linked immunsorbent assay Market is estimated to be valued at US$ 2441 Mn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in The Enzyme Linked Immunsorbent 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. The growing geriatric population globally and rising R&D investment from biopharma companies are presenting lucrative growth opportunities in the market. Several market players are focusing on geographic expansion and entering into strategic partnerships with regional diagnostic laboratories and hospitals to strengthen their presence across different regions globally.

Market drivers
The increasing prevalence of chronic and infectious diseases is a major driver propelling market growth. According to WHO, chronic diseases account for 60% of all deaths worldwide, with nearly 35 million deaths annually from chronic diseases. The rising healthcare expenditure to curb the burden of chronic diseases will further fuel the demand for ELISA-based diagnostic techniques in the coming years.

PEST Analysis
Political: Regulations related to food safety and quality control have increased the adoption of ELISA techniques in several industries. Stringent regulations promote the growth of the market.
Economic: Investments in healthcare and biotechnology research have increased the demand for ELISA. Rise in disposable incomes allows people to spend more on healthcare diagnostics and services.
Social: Growing awareness about early disease diagnosis and increasing healthcare spending drives the demand for point of care testing using ELISA kits.
Technological: Automation in ELISA processes has accelerated the testing procedures. Further development of microfluidic technologies offers scope for portable ELISA devices.

North America accounts for the largest share of the global ELISA market value owing to advanced healthcare infrastructure and widespread adoption of modern diagnostic techniques. The United States holds the major market share in the region.

Asia Pacific is expected to witness the fastest growth during the forecast period. Factors such as rising healthcare expenditure, increasing research funding, growing incidence of chronic and infectious diseases, and government initiatives will support the regional market expansion. Rapidly developing economies like China and India present lucrative opportunities for ELISA kit manufacturers.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it