In terms of geography, North America dominates the global immunochemicals market. This is due to increased awareness about therapeutic applications of immunochemicals in disease management in the region. Moreover, improved life science studies and healthcare infrastructures are also supporting the growth of the immunochemicals market in North America. The U.S. represents the largest market for immunochemicals in North America, followed by Canada. In Europe, Germany, France, and the U.K. hold major shares in the immunochemicals market. The immunochemicals market in Asia too, is expected to show high growth rates in the next five years. This is due to advancements in the biotechnology sector which increased the demand of antibodies in research activities. Furthermore, improved government support for biotechnology research and emergence of India and China as major centers for clinical research are also favoring the growth of this market in the region. Availability of infrastructure facilities and low-cost workforce are fuelling the growth of clinical research organization (CRO) market. This, in turn. is increasing the demand for immunochemicals assays in the region.
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Advancements in antibody technology and increasing prevalence of cancer are key drivers for the global immunochemicals market. Antibodies are used as tools in various applications, including expression levels of cancer-related proteins, signaling pathways, identification of candidate biomarkers, and analysis of enzyme activities.
Increasing investment in life science research activities and CRO market has also fueled the growth of the global immunochemicals market. Moreover, increase in research efforts for improving food production, enhancing food nutrition and quality, as well as production of pharmaceutical products through genetically engineered plants is also propelling the demand for immunochemicals.
However, stringent regulations set by various governments hamper the growth of the immunochemicals market. Increasing number of mergers and acquisitions of drug manufacturing companies and biotechnology research organizations is a key trend in the global immunochemicals market.
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The major companies operating in this market are Advanced ImmunoChemical, Inc., BIOTREND Chemikalien GmbH, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Meridian Life Science, Inc., Maine Biotechnology Services, EMD Millipore, Randox Laboratories Ltd., MitoSciences Inc., F. Hoffmann-La Roche AG, Sigma-Aldrich Corporation, Rockland Immunochemicals, and Trinity Biotech plc.
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