Jan 16, 2019 (Heraldkeeper via COMTEX) -- According to Coherent Market Insights, the global Enzyme Linked Immunosorbent Assay (ELISA) market was valued at US$ 1,583.4 million in 2017, and is projected to exhibit a CAGR of 5.1% during the forecast period (2017 - 2025).

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Technological advancements in ELISA test kits are expected to foster growth of the global Enzyme Linked Immunosorbent Assay (ELISA) Market. Extensive research and development in the field of immunoassay and diagnostics is leading to increasing applications and novel approaches for incorporating ELISA in various medical fields. This has resulted in expansion of the range of ELISA products used in clinical and medical approaches. For instance, in November 2016, Inova Diagnostics received the U.S. Food and Drug Administration (FDA) approval for QUANTA Lite, a Calprotectin Extended range of quantitative ELISA assay that aids in the diagnosis of Inflammatory Bowel Disease (IBD) and helps to differentiate IBD from Irritable Bowel Syndrome (IBS). Similarly, in July 2015, Bio-Rad Laboratories, Inc. received the U.S. FDA pre-market approval for BioPlex 2200 HIV Ag-Ab assay, which is the company’s fifth generation HIV diagnostic test that produces efficient diagnostic test results for HIV.

Factors such as increasing incidences of infectious diseases and cancer coupled with increasing demand for cost-effective diagnostic tools are expected to drive growth of the Enzyme Linked Immunosorbent Assay (ELISA) market. Majorly, vector borne diseases comprise a major percentage of infectious diseases and affects a wide population. According to the World Health Organization (WHO), 2017, annually, vector borne diseases account for over 17% of all infectious diseases, causing over 700,000 deaths worldwide. Dengue is most commonly occurring vector borne disease, with around 96 million new cases diagnosed worldwide, annually. According to the Centers of Disease Control & Prevention (CDC), in 2015, the number of visits to physician offices for infectious and parasitic diseases in the U.S. was 16.8 million.

Among regions, North America held a dominant position in the global Enzyme Linked Immunosorbent Assay (ELISA) market in 2017. This is attributed to development of innovative products by manufacturers in the region. For instance, in January 2018, Eagle Biosciences, Inc. introduced a novel intact FGF23 ELISA kit assay, which is a 96 well Sandwich ELISA assay. It measures the full length active form of Human Intact FGF23 used for the detection of mineral bone disorder, chronic kidney disease, tumor induced osteomalacia, and hyperphosphatemia.

Moreover, various private and public sectors firms that are focused on research and development activities in immunoassay-based clinical diagnostics are commercializing their research inventions by collaborating with existing market players. For instance, in March 2018, BARD1 Life Sciences, the U.S-based science research company, is expected to commercialize its BARD1-Ovarian blood-based ELISA test to identify ovarian cancer in early stages. Furthermore, Asia Pacific is projected to be the fastest growing market, owing to geographical expansion of regional players along with introduction of novel enzyme-based test kits at affordable prices. For instance, in January 2017, Fujirebio, a Japan-based IVD diagnostic testing company, introduced Lumipulse G B-Amyloid 1-42 ELISA assay in Europe that facilitates quantitative measurement of B-amyloid1-42 in human cerebrospinal fluid within of 30 minutes.

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