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Global immunoassay testing market to grow to USD 21bn in 2017.

M2 PHARMA-May 29, 2013-Global immunoassay testing market to grow to USD 21bn in 2017(C)2013 M2 COMMUNICATIONS

29 May 2013 - The global market for immunoassay testing is anticipated to grow by 4.7% annually to reach USD 21 billion (EUR 16.3bn) by 2017, according to a report by market research company BCC Research.

The major factors underpinning the market growth will be the aging population in some countries, as well as the increasing global income levels in developing countries, the paper noted.

The European market for immunoassay testing is anticipated to expand at a compound annual growth rate (CAGR) of 4.2%, to be worth USD 5.3 billion in 2017.

The market in the Americas, led by the USA, is projected to grow at a CAGR of 4.1% between 2012 and 2017 and to hit some USD 6.4 billion by 2017.

According to the report, the immunoassay testing market in the Middle East and Africa will reach USD 895 million and USD 727 million by 2017, increasing at CAGRs of 4.9% and 5.3%, respectively, in 2012-2017.

As previously reported, the Asian market for immunoassay testing is forecast to register a CAGR of 5.6% from 2012 to 2017 and to stand at about USD 7.3 billion by 2017.

(USD 1.0 = EUR 0.775)

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Publication:M2 Pharma
Article Type:Industry overview
Date:May 29, 2013
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