Austin, TX, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Serological Testing Market Size, Trends and Insights By Technology (ELISA, NAT, CLIA/CMIA, Others), By Product (Instruments, Consumables and Reagents), By Application (Hepatitis, Coronavirus (COVID-19), Human Immunodeficiency Virus (HIV), Rotavirus infections, Others), By End-User (Diagnostic Laboratories, Hospitals, Other End Users), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Serological Testing Market size & share was valued at approximately USD 4,820 Million in 2023 and is expected to reach USD 5,150 Million in 2024 and is expected to reach a value of around USD 8,100 Million by 2033, at a compound annual growth rate (CAGR) of about 6.70% during the forecast period 2024 to 2033.”
Click Here to Access a Free Sample Report of the Global Serological Testing Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=54518
Serological Testing Market: Growth Factors and Dynamics
- Increasing Demand for Diagnostic Testing: There is an increasing demand for accurate and reliable diagnostic tests throughout the healthcare sector, fueled by the need for early detection and effective management of diseases.
- Rising Incidence of Infectious Diseases: The prevalence of infectious illnesses such as HIV, hepatitis, and COVID-19 has fueled the demand for serological testing to diagnose, screen, and monitor these medical conditions.
- Advancements in Technology: Technological developments in serological testing procedures have enhanced test accuracy, speed, and efficiency, making them more accessible and reliable to healthcare practitioners.
- Growing Awareness and Screening Programs: Public health initiatives and awareness campaigns have boosted the acceptance of serological testing as a component of routine health check-ups and disease prevention programs.
- Expanding Applications in Research and Development: Serological testing is critical in research and development efforts, such as vaccine development, epidemiological investigations, and understanding disease prevalence and transmission trends.
- Increased Healthcare Expenditure: Rising worldwide healthcare spending has prompted investments in diagnostic technology, such as serological testing platforms, consequently expanding the market.
- Point-of-Care Testing (POCT) Advancements: Advances in POCT technology have made serological tests more accessible in a variety of healthcare settings, including clinics, emergency departments, and remote locations, resulting in market expansion.
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Serological Testing Market: Partnership and Acquisitions
- In November 2023, Agilus Diagnostics, a Fortis Healthcare Limited subsidiary, launched a cutting-edge laboratory in Bongaigaon, Assam. Covering 2,000 square feet, the lab can process over 25,000 samples monthly and offers over 3,000 tests, including routine and specialized diagnostics. The facility includes divisions such as Hematology, Biochemistry, Clinical Pathology, Serology, and Microbiology, meeting the region’s growing demand for high-quality diagnostic services and preventive healthcare packages.
- In October 2022, LordsMed, part of Lord’s Mark Industries, inaugurated an IVD manufacturing facility in Vasai near Mumbai. The 20,000 sq ft facility features advanced technologies and infrastructure meeting global standards. It will produce various IVD and point-of-care diagnostic solutions, including analyzers, reagents for clinical biochemistry, haematology, serology, immunology, rapid testing kits (ICMR approved antigen kits), and lab consumables.
- In November 2023, Roche launched the Elecsys® Anti-HEV IgM and Anti-HEV IgG immunoassays for detecting hepatitis E virus (HEV) infections in CE mark-accepting countries. The Anti-HEV IgM assay detects acute or recent HEV infections, while the Anti-HEV IgG assay identifies recent or past infections. Both assays can be used with cobas® e 411, e 601/602, e 402, and e 801 analyzers.
- In February 2022, Thermo Fisher Scientific introduced two bead-based ELISA solutions for faster and simpler detection of SARS-CoV-2 antibodies. Unlike traditional methods with lengthy protocols, the Invitrogen Dynabeads SARS-CoV-2 Spike ELISA kits detect and quantify human antibodies from serum or plasma in just 45 minutes. The new plates-to-beads concept enhances binding kinetics by capturing antibodies in suspension, streamlining the serological research process.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 5,150 Million |
| Projected Market Size in 2033 | USD 8,100 Million |
| Market Size in 2023 | USD 4,820 Million |
| CAGR Growth Rate | 6.70% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Technology, Product, Application, End-User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Serological Testing report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Serological Testing report has been modified to include the COVID-19 impact study prior to delivery.)
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Serological Testing Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Serological Testing Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Supply Chain Disruptions: Early in the pandemic, there were disruptions in the supply chain for serological testing kits, affecting availability and distribution globally.
- Quality Concerns: With the rush to meet demand, some serological tests initially had issues with accuracy and reliability. This raised concerns about false positives/negatives and quality control.
- Regulatory Challenges: Rapidly changing regulatory requirements and approvals posed challenges for manufacturers, delaying market entry for some products and increasing compliance costs.
- Market Saturation: As the initial surge in demand subsides and vaccination rates increase, the market for COVID-19 serological tests may experience saturation, impacting future growth prospects.
- Increased Demand: The pandemic led to a surge in demand for serological tests to detect antibodies against SARS-CoV-2, the virus causing COVID-19. This sudden demand boosted the market size and revenue for companies producing serological testing kits.
- Technological Advancements: The urgency of the pandemic accelerated research and development in serological testing technologies. This has led to innovations in assay sensitivity, specificity, and rapid test development, benefiting the overall market.
- Market Expansion: The pandemic highlighted the importance of serological testing not only for COVID-19 but also for other infectious diseases and immune-related conditions. This awareness has expanded the potential market beyond infectious diseases.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Serological Testing Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the Serological Testing market and what is its expected growth rate?
- What are the primary driving factors that push the Serological Testing market forward?
- What are the Serological Testing Industry’s top companies?
- What are the different categories that the Serological Testing Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Serological Testing market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Serological Testing Market – Regional Analysis
The Serological Testing Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, the serological testing market is witnessing several key trends. Firstly, there is an increasing demand for COVID-19 antibody testing, which is being driven by continuing surveillance initiatives and vaccine effectiveness examinations. Second, advances in assay technology, such as automated platforms and multiplex assays, improve testing efficiency and accuracy. Third, there is a shift towards point-of-care testing solutions that enable quick and decentralised testing capabilities. Furthermore, more awareness and adoption of personalised medicine approaches are influencing the industry, particularly targeted therapies and patient-specific treatment regimens. These trends influence the changing environment of serological testing in North America.
- Europe: The growth of the Serological Testing Market in Europe is supported by several key factors. These include rising disease rates, increased demand for early detection, advances in laboratory technology, and a strong healthcare infrastructure. Furthermore, the region’s emphasis on preventive healthcare measures and proactive screening programmes promotes market growth. Furthermore, the increasing use of serological testing in vaccine and pharmaceutical research and development drives market expansion in Europe.
- Asia-Pacific: The Serological Testing Market in Asia-Pacific is driven by several key trends. These include the increasing prevalence of infectious diseases necessitating reliable diagnostic tools, rising healthcare expenditure and infrastructure development, and growing awareness and adoption of advanced medical technologies. Additionally, expanding initiatives for early disease detection and management, alongside robust investments in healthcare R&D, further bolster market growth. Moreover, the COVID-19 pandemic has underscored the importance of serological testing, fostered innovation and enhanced market opportunities in the region.
- LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, the growth of the Serological Testing Market is supported by a number of important factors. These include increased awareness of infectious diseases, expanding healthcare infrastructure, increasing healthcare costs, and a growing desire for precision diagnostic technologies. Furthermore, technological improvements, especially in immunodiagnostics and antibody testing, help to drive market growth. Furthermore, government measures to improve healthcare access and the incidence of chronic diseases drive the demand for serological testing in the LAMEA area.
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Browse the full “Serological Testing Market Size, Trends and Insights By Technology (ELISA, NAT, CLIA/CMIA, Others), By Product (Instruments, Consumables and Reagents), By Application (Hepatitis, Coronavirus (COVID-19), Human Immunodeficiency Virus (HIV), Rotavirus infections, Others), By End-User (Diagnostic Laboratories, Hospitals, Other End Users), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/serological-testing-market/
List of the prominent players in the Serological Testing Market:
- Serological Research Institute (SERI)
- Chembio Diagnostics Inc
- Randox Laboratories Ltd
- Abbott Laboratories
- Bio-Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.
- Ortho Clinical Diagnostics
- Quest Diagnostics Incorporated
- Abcam Plc
- Hoffmann-La Roche Ltd.
- ELITechGroup
- Teleflex Incorporated
- Grifols S.A.
- Global Scientific Company
- Beckman Coulter Inc.
- Biomedomics Inc.
- Others
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The Serological Testing Market is segmented as follows:
By Technology
- ELISA
- NAT
- CLIA/CMIA
- Others
By Product
- Instruments
- Consumables and Reagents
By Application
- Hepatitis
- Coronavirus (COVID-19)
- Human Immunodeficiency Virus (HIV)
- Rotavirus infections
- Others
By End-User
- Diagnostic Laboratories
- Hospitals
- Other End Users
Click Here to Get a Free Sample Report of the Global Serological Testing Market @ https://www.custommarketinsights.com/report/serological-testing-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Serological Testing Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Serological Testing Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Serological Testing Market? What Was the Capacity, Production Value, Cost and PROFIT of the Serological Testing Market?
- What Is the Current Market Status of the Serological Testing Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Serological Testing Market by Considering Applications and Types?
- What Are Projections of the Global Serological Testing Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Serological Testing Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Serological Testing Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Serological Testing Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Serological Testing Industry?
Click Here to Access a Free Sample Report of the Global Serological Testing Market @ https://www.custommarketinsights.com/report/serological-testing-market/
Reasons to Purchase Serological Testing Market Report
- Serological Testing Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Serological Testing Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Serological Testing Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Serological Testing Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Serological Testing market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
Buy this Premium Serological Testing Research Report | Fast Delivery Available – [220+ Pages] @ https://www.custommarketinsights.com/report/serological-testing-market/
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Serological Testing market analysis.
- The competitive environment of current and potential participants in the Serological Testing market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Serological Testing market should find this report useful. The research will be useful to all market participants in the Serological Testing industry.
- Managers in the Serological Testing sector are interested in publishing up-to-date and projected data about the worldwide Serological Testing market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Serological Testing products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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