The Latin America Veterinary Laboratory Testing Service market will be USD 467.56 million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031. The market is foreseen to reach USD 1003.3 million by 2031 owing to the increased veterinary hospital industry.

According to Future Market Insights research, during the projected period, the Global point-of-care diagnostics market is expected to grow at a CAGR of 6.8%. The market value is projected to increase from US$ 38.7 Billion in 2023 to US$ 74.8 Billion by 2033. The point-of-care diagnostics market was valued at US$ 36.6 Billion at the end of 2022 and is anticipated to exhibit Y-o-Y growth of 5.8% in 2023.

Scope of the Global Point-of-Care Diagnostics Industry Report

Global Medical laboratory technology is segmented by Application (Hospitals, Diagnostic Laboratories, Research Institutions, Academic Institutions, Public Health Agencies), Type (Clinical Chemistry, Hematology, Microbiology, Immunology, Molecular Diagnostics) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global Lab Screening Test Kit is segmented by Application (Hospitals, Clinics, Laboratories, Medical research, Diagnostic testing), Type (Diagnostic tests, Medical tests, Laboratory supplies, Healthcare products, Medical devices) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global Medical and Diagnostic Laboratory Service is segmented by Application (Clinical Testing, Drug Development, Public Health, Research Institutes, Occupational Health), Type (Pathology, Microbiology, Molecular Diagnostics, Biochemistry, Genetic Testing) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

The Critical Care Diagnostics Market Report is Segmented by Test Type (Flow Cytometry, Hematology Tests, Microbiology & Infectious Disease Tests, and More), Technology (Central-Lab Analyzers, and More), End User (Intensive Care Units, and More), Sample Type (Whole Blood, and More), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, South America). The Market Forecasts are Provided in Terms of Value (USD).

Global Veterinary Diagnostics is segmented by Application (Livestock, Pets, Diagnostics Labs, Research) , Type (Immunodiagnostics, Clinical Biochemistry, Molecular Diagnostics, Hematology) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

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Immunoassay Market Size and Forecast 2025-2029

The immunoassay market size estimates the market to reach by USD 9.4 billion, at a CAGR of 4.6% between 2024 and 2029. North America is expected to account for 45% of the growth contribution to the global market during this period. In 2019 the reagents and kits segment was valued at USD 22.30 billion and has demonstrated steady growth since then.

The immunoassay market is advancing steadily as demand for predictive and preventive medicine accelerates across sectors that rely on early detection and accurate diagnosis. Immunoassays play a central role in identifying critical biomarkers from biological samples such as blood and urine, establishing their importance in clinical diagnostics. Beyond healthcare, the technology's application in the food and beverage industry supports food safety testing and quality assurance protocols, reflecting the market's cross-sector versatility.
Market participants are increasingly investing in automated and user-friendly testing platforms to streamline workflows and reduce reliance on specialized personnel. This push for innovation aligns with rising testing volumes and reinforces immunoassays as a foundational tool in diagnostics and quality control. A key challenge lies in the limited availability of skilled laboratory professionals, which continues to hinder operational efficiency amid growing demand. Addressing this shortage through automation and workforce development is essential. While the market's foundational capabilities remain strong, its future trajectory depends on overcoming these labor constraints while maintaining high diagnostic accuracy.
The market is projected to expand steadily, driven by increasing test volumes and rising emphasis on rapid, reliable diagnostics. When comparing performance metrics, testing volumes and technological adoption rates reflect a consistent upward trend, whereas operational capacity faces constraints linked to workforce availability. This imbalance underscores the need for scalable, automated systems to meet expanding application needs without sacrificing reliability or throughput.

What will be the Size of the Immunoassay Market during the forecast period?

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The global immunoassay market continues to expand as clinical diagnostics and research applications increasingly adopt advanced analytical protocols. Kinetic measurements and endpoint measurements are widely integrated into testing workflows to improve method performance, with diagnostic kits relying on enhanced calibration standards and strict incubation conditions to deliver consistent results. Receptor binding and antibody conjugation are crucial in driving assay sensitivity and specificity testing, especially for emerging molecular diagnostics and toxin detection use cases.
The use of positive and negative controls, precise sample dilution, and optimized substrate selection have collectively contributed to reducing intra-assay variability and inter-assay variability, ensuring consistent outcomes across diverse sample types. Increased attention to food safety testing and environmental monitoring has led to improvements in wash buffer preparation, reference intervals, and hapten labeling.
Quantification through optical density (OD) and relative light units (RLU) allows for higher signal-to-noise ratio, which is critical for pathogen identification and detecting trace-level contaminants. Current data shows that the adoption of molecular-based assays grew by 14% as testing protocols expanded across food safety and clinical trail sectors. Meanwhile, the market is expected to grow by more than 9% annually, driven by increasing demand for high-sensitivity diagnostics and evolving regulatory frameworks. This comparison illustrates a substantial upward trend, where the expanding use of advanced immunoassay techniques in multiple fields correlates directly with rising implementation rates and growing market value.

How is this Immunoassay Industry segmented?

The immunoassay industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Reagents and kits
  Analyzers


Technology

  ELISA
  Radioimmunoassay (RIA)
  Chemiluminescence Immunoassay (CLIA)
  Fluorescence Immunoassay (FIA)
  Rapid Tests
  Western Blotting


Specimen

  Blood
  Urine
  Saliva


End-User

  Hospitals
  Blood Banks
  Clinical Laboratories
  Pharmaceutical and Biotech Companies
  Academic Research Centers
  Others


Application

  Infectious Diseases
  Endocrinology
  Oncology
  Cardiology
  Autoimmune Diseases
  Therapeutic Drug Monitoring
  Bone & Mineral Disorders
  Others


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Global Diagnostic Specialty Enzymes is segmented by Application (Hospitals, Diagnostic labs, Research centers) , Type (Amylase, Lipase, Protease, Lactase, DNA polymerase) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global Clinical Laboratory Tests is segmented by Application (Healthcare, Diagnostics) , Type (Diagnostic Kits, PCR Testing, Blood Panels, Pathogen Detection, Biochemical Analyzers) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global Melioidosis Diagnostic is segmented by Application (Clinical Labs, Hospitals, Research Centers, Military Labs, Veterinary Clinics), Type (PCR, Culture, Serology, ELISA, Lateral Flow Assay) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global PCT Fast Test Kit is segmented by Application (Healthcare, Diagnostics, Emergency care, Laboratories, Hospitals), Type (Fast test, Diagnostic, Medical, PCT, Portable) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global Porphyrin Testing is segmented by Application (Healthcare, medical diagnostics, research), Type (Medical, Diagnostic, Testing, Health, Laboratory) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

Global Anti-fungal Tests is segmented by Application (Hospitals, Clinics, Homecare, Diagnostic Labs, Research Labs), Type (Culture test, Molecular test, Skin test, Blood test, PCR-based) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)