Enzyme-linked immunosorbent assay (ELISA) is a technique used mainly for analyzing the presence and concentration of antibodies and antigens in a liquid sample such as blood, serum or plasma. It utilizes an enzyme linked to an antibody or antigen to identify and quantify the target protein.

The Global Enzyme Linked Immunosorbent Assay Market Size is estimated to be valued at US$ 2118.92 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The global Enzyme Linked Immunosorbent Assay market is projected to witness high growth owing to its wide applications in the healthcare and research industries. ELISA has advantages over other traditional detection techniques, as it is highly sensitive, specific and cost-effective. It allows for the detection of antibodies and antigens in trace amounts. One of the key drivers for the growth of this market is the increasing research funding from both private and public organizations for development of diagnostic tests to detect various diseases like cancer, HIV and cardiovascular diseases. Furthermore, rising demand for accurate disease diagnosis in hospitals and diagnostics laboratories also contributes to the growth of the global ELISA market. The growing geriatric population which is more prone to chronic diseases creates requirement for various diagnostic tests. Development of automated systems for ELISA has further enhanced its adoption in diagnostic applications.

SWOT Analysis

Strength: Enzyme Linked Immunosorbent Assay (ELISA) technology provides highly sensitive, specific, and reproducible results. It has emerged as a standard analytical biochemistry tool owing to its ability to detect trace amounts of analytes. ELISA kits allow for high-throughput screening of large number of samples in short duration. The technology has wide applications in clinical diagnostics, food and beverage testing, and veterinary research.

Weakness: ELISA technique requires specialized equipment and reagents which increases the overall cost of testing. Manual errors during the testing procedure can affect the accuracy and reproducibility of results. Limited scope for quantifying multiple analytes from a single sample.

Opportunity: Rising incidence of chronic and infectious diseases globally is expected to drive the demand for ELISA testing. Growing penetration in emerging regions owing to increasing healthcare investments. Advancements in microfluidics and automated ELISA platforms provide opportunities to develop high-throughput, low-cost, and portable kits. Growing application areas in biotherapeutics development and bioprocess monitoring.

Threats: Availability of alternative technologies such as PCR, lateral flow assay may limit the growth of ELISA market to some extent. Stringent regulatory frameworks and quality standards increase the entry barriers.

Key Takeaways

The global Enzyme Linked Immunosorbent Assay market is expected to witness high growth over the forecast period owing to rising disease burden and increased healthcare spending globally.

North America currently dominates the market owing to well-established healthcare infrastructure and presence of key market players. Asia Pacific is anticipated to grow at a highest CAGR during the forecast period supported by growing patient population, increasing healthcare expenditure, rising disposable income, and growing penetration of key market players in emerging countries. China represents a lucrative market opportunity attributed to large patient pool, improving laboratory infrastructure, and competitive pricing.

Key players analysis
Key players operating in the Enzyme Linked Immunosorbent Assay market are Bio-Rad Laboratories, Inc., Enzo Life Sciences, Inc., Thermo Fisher Scientific, Inc., Biomerieux S.A., Alpco, BioLegand, Inc., R&D Systems, Creative Diagnostics, Zeus Scientific, Inc., and Shenzhen YHLO Biotech Co., Ltd.

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