- Primary Serological Tests
- Secondary Serological Tests
- Tertiary Binding Tests
Serology Testing Market size was valued at USD 4,305.0 million in 2022 and is expected to grow at a CAGR of 14.0% from 2023 to 2029. The serological testing is used to diagnose and analyse various types disease causing viruses like rota virus infection, HIV, endotoxins and other infectious disease causing viruses. The increasing incidence of COVID cases and increasing healthcare expenditure across the globe is expected to drive the growth of serology testing market over the forecasted years. In addition increasing investments in research and developments for COVID analysis kits and the government initiatives supporting the research of this segment is expected to boost the market growth at an significant rate over the forecasted period. Furthermore, rising number of product launches and approval of serology testing kits are expected to fuel the market growth. However, shortage of serology testing kits, strict government regulations regarding the safety and high cost of serology testing kits are expected to hinder the market growth over the forecasted period. Moreover, increasing prevalence of diseases like HIV/AIDS, tuberculosis, hepatitis across the globe, increasing demand for ELISA test across the globe and increasing incidence of tuberculosis in geriatric population is expected to provide opportunities to the key market players in the growth of serology testing market over the forecasted period. Geographically, Asia Pacific region is expected to have a significant growth over the forecasted period due to the increasing awareness about the disease and high rate of infectious disease incidence in countries like India and China and rising per capita healthcare expenditure. The Europe region held the major market share in 2022 and is expected to dominate the global serology testing market in the forecasted years.
Serology Testing Market Key Developments:
In April 2020, Accelerate Diagnostics and Biocheck collaborated to distribute SARS-COV-2 Antibody tests and MS-FAST Chemiluminescence Immunoassay Analyzer.
In March 2020, Chembio Diagnostic Systems Inc launched their product ‘DPP Covid-19 serological test kit.
Fastest Growing Market
Serology testing market is expected to grow over the forecasted period owing to the increasing prevalence of infectious disease across the globe. In addition, increasing investments in research and developments for COVID analysis kits and the government initiatives supporting the research of this segment is expected to boost the market growth at an significant rate over the forecasted period. Availability of well-developed healthcare infrastructure in emerging regions such as Europe, Asia Pacific is expected to fuel the market growth over the forecasted period. Furthermore, increase in research and product launches by the key market players is expected to fuel the market growth.
Serology Testing market was valued at USD 4,305.0 million in 2022, growing at a 14.0% CAGR from 2023 to 2029
Increasing prevalence of infectious diseases, rising investments in research and developments are expected to drive the growth of serology testing market over the forecasted period.
The leading players in the global Serology Testing market are F. Hoffmann La-Roche Ltd, Thermo Fisher Scientific, Inc., Beckman Coulter, Inc., ELI Tech Group, Becton, Dickinson and Company (BD), Abbott, Randox Laboratories Ltd., Quest Diagnostics, Serological Research Institute., Creative Diagnostics
Europe market is expected to hold major market share in the forecasted period. Followed by Asia Pacific region and North America region.