Global Genetic Testing Market size and forecast, 2020-2027

 According to the analysis conducted by Market Research Future (MRFR), the Genetic Testing Market is projected to thrive at a CAGR of 10.30% and is expected to acquire a market value of USD 30.10 Billion by 2027.

Genetic testing is used in prenatal screening, diagnostics, and as a predictive tool. The genetic testing market is predicted to propel due to the on-going development in the field to produce useful testing kits. Overall, the genetic testing market is likely to experience significant expansion due to its growing requirement, rising acquisitions, and partnerships among key players.

The outbreak of COVID-19 has severely impacted the genetic testing market. The worldwide lockdown to follow social distancing resulted in various challenges in the genetic testing market. COVID-19 resulted in the shutdown of testing labs and clinics, which has restricted face-to-face genetic counseling that is likely to impact the market negatively.

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Market Segmentation

The Global Market has been segmented into method, applications, and type. Based on the segment which is method, the market is categorized on the basis of biochemical genetic tests, chromosomal genetic tests, and molecular genetic tests/DNA tests. The global market for genetic testing is further segmented based on applications into reproductive health (carrier screening, newborn screening, and prenatal screening), cancer screening (breast cancer, colon cancer, hereditary cancer, and ovarian cancer), ancestry, pre-symptomatic testing, predictive, and others. Furthermore, the market, on the basis of type is segmented into prescribed genetic testing and direct-to-consumer genetic testing.

The global Market research report covers all the aspects of the Global Market based on the segmental analysis of these method, applications, and type segments. Analysts have also studied the global genetic testing market's regional markets spread across many continents and countries. The method, applications, and type segments along with their sub-segments have been analyzed and companies functioning in the Global Market across these segments are profiled and analyzed based on input and feedback from Global Market based decision makers as well as primary and secondary sources. The Global Market research report presents analysis based information for companies functioning in the genetic testing market.

Regional Overview

The lack of solutions for all the diseases diagnosed may hinder the Global Market growth. The market research report suggests that companies in the Global Market could be supported by the increasing need to find a cure to cancer as well as demand for effective testing during the forecast period. The Global Market is set to register growth at a high CAGR owing to these key factors. The Genetic Testing Market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global Genetic Testing Market research report reveals that APAC, North America, and Europe regional genetic testing markets will dominate the global market for genetic testing during the forecast period 2019 to 2024. As per Global Market analysts, the market is set to witness tremendous growth across molecular genetic test/DNA test and reproductive health segments in North America which covers Global markets across the United States, Canada, Mexico and several other regional markets. Companies active in the Global Market are also analyzed and studied in the Global Market research report.

The Global Market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the Global Market research report covers the Asia-Pacific region covering genetic testing markets from India, China, Japan, Australia, and others. The Global Market is also spread across the rest of the world. The Global Market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Genetic testing has seen increased demand over the years, due to the rapid expansion of the biotechnology and integration of AI in testing procedures. Companies functioning in the global Global Market are also being challenged due to the lack of funded research in prognosis and shortage of skilled professionals. Mergers and acquisitions by Global Market companies are anticipated to help the market during the forecast period 2020 to 2027. the report highlights key areas companies need to focus on. The report suggests that the Global Market will see a healthy growth in the long run till 2027. Based on SWOT analysis and genetic testing market’s analysis based on Porters’ Five Force Model presented in the Global Market report. Mergers and acquisitions by Global Market companies are anticipated to help the market during the forecast period 2020 to 2027. 

Industry News

Invitae announced on Monday that it would pay $50 million for Clear Genetics, a software developer that facilitates the distribution of genetics services at scale. Invitae will pay $25 million in cash and $25 million in shares of Clear Genetics common stock under the terms of the strategic partnership. The purchase price can be changed after closure depending on Clear Genetics' working capital and other considerations, and a part of the purchase price may be kept back to cover indemnification obligations. Clear Genetics shareholders would be able to vote on the company's stock.

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Healthcare Consulting Services Market: Drivers, Restraints, Opportunities, and Threats (2020-2027)

 The Global Healthcare Consulting Services Market is expected to register a CAGR of 10.4% during the forecast period of 2019 to 2024.

Healthcare consultant or healthcare consulting services is referred to a business associated with providing services which are used by healthcare companies, hospitals, clinics, to implement a new strategy for proper management of various activities such as accounting, marketing, finance, insurance in the healthcare industry.

The healthcare consulting services help in the smooth functioning of different activities in less amount of time by increasing the connectivity and simplifying the process in the healthcare sector. 

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There is an increase in demand for healthcare consulting services across the globe due to the increasing globalization, rising demand for healthcare products and the addition of a new feature in the healthcare industry. The increasing competition in the healthcare sector has encouraged major companies to focus on the improvement of their business strategies along with the development of product development, manufacturing, designing, and marketing.

However, factors such as the availability of similar technology and low product differentiation may hamper the market growth.

Segmentation

The Global Healthcare Consulting Services Market is segmented on the basis of type of service, component, application, and end user.

On the basis of the type of service, the global healthcare consulting services market is categorized into IT consulting, digital consulting, financial consulting, operations consulting, and strategy consulting.

On the basis of the component, the global healthcare consulting services market is segmented into services, software, and hardware. On the basis of application, the market is segmented into operations management, financial, population health, and clinical. On the basis of operations management, the market is sub segmented into demand forecasting, workforce planning and scheduling, inpatient scheduling, and outpatient scheduling. Based on population health the market is sub segmented into

population risk management, patient engagement, population therapy management, and others. On the basis of finance, the market is sub segmented into revenue cycle management, fraud detection, and others. Based on clinical the market is sub segmented into quality benchmarking, patient care enhancement, and clinical outcome analysis and management.

On the basis of the end user, the market is segmented into hospitals and clinics, life science companies, and government bodies.

On the bases of region, the market is segmented into Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is expected to hold the largest market share and the Middle East and Africa with the low market share during the forecast period.

Regional Analysis

The Americas dominate the global healthcare consulting services market owing to the increase in healthcare infrastructure, growing awareness about the patient safety methods and increasing competition in healthcare companies opts for healthcare consultants for various solution and strategies which increases the demand for healthcare consulting services within the region.

Europe is second in the global healthcare consulting services market owing to increasing adaption of IT services in healthcare and increasing awareness about the healthcare consulting services is promoting the market across the globe.

The Asia-Pacific region is the fastest growing market owing to the increasing patient population, rising demand for various healthcare facilities for better treatment and increasing healthcare expenditure drives the market with the region. The Middle East & Africa has the least share in the global healthcare consulting services market owing to the presence of poor economies and low per capita income, especially in the African region.

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Hematology Diagnostics Market – Qualitative Insights by 2027

 Hematology is the branch of science that deals with cause, prognosis, treatment, and prevention of blood disorders. The hematology diagnostics market is expected to witness tremendous growth owing to the rising prevalence of blood disorders and technological advancements. The Leukemia & Lymphoma Society (LLS) predicted 174,250 new cases of leukemia, lymphoma or myeloma in 2018 in the U.S. Other key factors like increase in the prevalence of genetic diseases, the rise in hematological testing, growing blood transfusions and donations and increasing adoption of automated hematology analyzers are contributing towards the growth of the market. According to the Centers for Disease Control and Prevention in 2017, approximately 70,000 to 100,000 Americans have sickle cell disease which is genetic blood disorder.

However, factors such as high cost of diagnostics, poor healthcare insurance coverage for diagnostic procedures and lack of awareness are expected to restrict the market growth during the forecast period.

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Segmental Analysis:
The segmental analysis of the hematology diagnostics market is segmented on the basis of tests, product type, and end-user. By product type, the hematology diagnostics market is segmented into flow cytometers, and consumables. The tests segment is additionally segmented into leukemia/lymphoma phenotyping, hemoglobinopathy, anemia, hematology pathophysiology, complete blood count (CBC) and others. Based on end-users, the market is segmented into ambulatory surgical centers, diagnostic laboratories, hospitals and clinics, academic institutes and others.    

Detailed Regional Analysis:
The regional analysis of the hematology diagnostics market states that the North American region dominates the market due to the mounting incidence of blood diseases. The presence of the primary market players within the region is influencing the market growth. Factors such as growing healthcare expenditure, technological improvements within the population are driving the market development in this region. The European region is the subsequent market contender in the global hematology diagnostics market due to the growing hematology research within this region. The growing hematology research and government initiatives within this region are influencing the development of the hematology diagnostic market in this region.

The Asia Pacific region was recognized as the quickest rising region for the hematology diagnostics market globally in 2017. The market is projected to observe considerable development due to the intensifying commonness of blood disorders and genetic diseases. The predisposition of individuals in the region to genetic disorders due to marriages to blood relatives or marrying within the same community, ethnicity, caste, etc. The Middle Eastern and African region controls the smallest stake in the hematology diagnostics market globally owing to the incidence of strict government policies and deprived economies. Though, the market is projected to observe growth owing to increased investments by private market players in the Middle East. Moreover, the increasing incidence of genetic blood disorders and expanding government initiatives to develop the healthcare sector within the region is expected to contribute to the market’s growth.

Competitive Analysis:
The growth of the market is moving in a favorable direction due to new product launches or rising gross revenue of the players in the market. Significant reductions in administrative costs are inducing further expansion of the market. The vertical additions and product tactics of the market are boosting the potential of the market players. The development of a robust value chain is further motivating the development of the market. The strategic goals intended for the market are reinforced due to favorable product differentiation carried out by market competitors.  Increased adaptability of market players to new market trends and customers inclinations are lifting the growth curve of the market and will continue do so in the forecast period. The successful implementation of strategies is expected to motivate the market in the coming years.

The central contenders in the hematology diagnostics market globally are Ortho Clinical Diagnostics (US), Danaher (US), Siemens (Germany), Boule Diagnostics (Sweden), HORIBA (Japan), Abbott Laboratories (US), EKF Diagnostics (UK), Bio-Rad Laboratories (US), BioSystems (Spain), Sysmex (Japan), Diatron (Hungary), Nihon Kohden (Japan), Drew Scientific (US), Mindray (China), and Roche (Switzerland), and other.

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Impact of Existing and Emerging Global Ophthalmic Drugs Market Trends And Forecast 2020-2027

 Market Scenario

Ophthalmic Drugs Market is expected to register 5.1% CAGR during the forecast period of 2019 to 2025 and held a market value of USD 29.46 Billion in 2018.

Ophthalmic drugs are used to treat eye infection and various types of eye conditions. Ophthalmic diseases, including age-related macular degeneration (AMD), diabetic macular edema (DME), diabetic retinopathy, retinal vein occlusion (RVO), and myopic choroidal neovascularization, are potential threats to an individual’s sight.

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A number of factors such as rising prevalence of eye diseases, growing awareness, huge research funding in ophthalmology, unmet medical needs, rising competition among market players, improving regulatory framework, aging population, and increasing government assistance, are a few factors propelling the growth of the global ophthalmic drugs market. According to the 2017 statistics suggested by the World Health Organization (WHO), the chronic eye disease is the main cause of vision loss, globally.

However, the high cost associated with a diagnosis of eye diseases, side effects of available treatment options, and lack of healthcare insurance may hamper the growth of the market.

Regional Analysis

The Americas dominates the ophthalmic drugs market owing to the presence of patient population, rising prevalence of eye diseases, well-developed technology, high healthcare expenditure, and the presence of the leading players. According to the glaucoma research foundation, in the United States, more than 120,000 are blind because of glaucoma. This accounts for 9 to 12% of all the cases of blindness. It is also reported that over 3 million Americans have glaucoma, but only a few of them know they have it. It is also reported that glaucoma accounts for more than 10 million visits to physicians each year. In November 2017, Bausch & Lomb, a U.S.-based company, received the FDA approval for Vyzulta (latanoprostene bunod ophthalmic solution). The drug is designed for the reduction of intraocular pressure in patients with glaucoma or ocular hypertension. In December 2017, Rhopressa (netarsudil ophthalmic solution) by Aerie Pharmaceuticals has also received the FDA approval for the treatment of glaucoma or ocular hypertension.

Europe holds the second position in the ophthalmic drugs market. It is expected that the government support towards research and development expenditure, increasing competition among marketers, and amendments in reimbursement policies in healthcare are likely to drive the European market.

Asia Pacific is the fastest growing ophthalmic drugs market owing to a huge patient pool, increasing demand, and development in healthcare technology.

The Middle East and Africa hold the lowest share of the global ophthalmic drugs market due to low development, lack of technical knowledge, and poor medical facilities.

Segmentation

The global ophthalmic drugs market is segmented on the basis of indication, drug class, type of dosage, product, distribution channel.

On the basis of indication, the market is classified as glaucoma, retinal disorders, inflammation/infection, dry eye, allergies, uveitis, and others.

On the basis of the drug class, the market is classified as antiallergy, anti-VEGF agents, anti-inflammatory, antiglaucoma, and others. The anti-inflammatory class is further segmented into nonsteroidal drugs and steroidal drugs.

On the basis of type of dosage, the market is classified as eye drops, eye solutions, ointments, capsules and tablets, and gels.

On the basis of the product, the market is classified as prescription drugs and OTC drugs.

On the basis of the distribution channel, the market is classified as hospital pharmacies, online pharmacies, drug stores, and others.

Key Players

Some of the key players in the global ophthalmic drugs market are Actavis Generics, Allergan Plc, Bausch & Lomb Inc., Genentech, Inc., Merck & Co., Inc., Pfizer Inc., Regeneron Pharmaceuticals, Inc., Santen Pharmaceutical Co., Ltd., Shire Plc, Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Valeant Pharmaceuticals International, Inc., and others.

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Acne Treatment Market: Drivers, Restraints, Opportunities, and Threats (2020-2027)

 Global Acne Treatment Market is expected to grow at an approximate CAGR of 5.3% during the forecast period. Acne, also known as acne vulgaris is a skin condition characterized by the clogging of hair follicles with oil or dead skin cells. The skin condition can be persistent even after treatments.  Acne is estimated to affect the areas of the skin which have a relatively high number of oil glands, i.e., face, the upper part of the chest, and back. Pustules, nodules, cystic lesions, papules, among others are some of the common symptoms of the disease.  Acne is common among teenagers. Increasing prevalence of the acne and growing teenage population are the active drivers of the Acne Treatment Market growth during the forecast period. According to the Acne and Rosacea Society of Canada in 2016, acne affected ~90% of the teens in Canada. Moreover, it was estimated that ~5 million people within the region have acne.

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Additionally, cosmetic expenditures and increasing awareness of the disease boosts the acne treatment market growth. According to the American Society for Aesthetic Plastic Surgery in 2016, the Americans spent more than USD 13.5 billion on aesthetic procedures (surgical and nonsurgical). The estimated increase from 2014 was about USD 1.5 billion. However, factors such as reported cases of acute reactions caused by the non-prescription acne care products and the high cost of therapeutic procedures like microdermabrasion, dermabrasion, and others may restrain the market growth during the forecast period. According to the American Society of Plastic Surgeons in 2016, the average cost of dermabrasion was estimated to be about USD 1,162, excluding the anesthetic and other related expenses.

Segmentation

The global acne treatment market is segmented on the basis of type, treatment, treatment modality, and end users. On the basis of the type, the market is segmented into comedonal acne, inflammatory acne, cystic acne, post-surgical/wound acne, and others. On the basis of treatment, the market is categorized into medication, therapeutic devices, and others. The medication segment is-sub segmented into retinoid, antibiotics, and others. The retinoid segment is further segmented into adapalene, tretinoin, others. The antibiotics segment is further segmented into erythromycin, clindamycin, and others. The therapeutic devices segment is sub-segmented into lasers, microdermabrader, dermabradors, and others.  On the basis of treatment modality, the market is segmented into oral, topical, injectable. On the basis of end users, the market is segmented into hospitals & clinics, pharmacies & drug stores, ambulatory surgical centers, and others.

Regional Analysis

America dominates the global acne treatment market owing to a well-developed healthcare sector and a huge patient population within the region. Moreover, changing lifestyle and increasing cosmetic expenditure provides a boost to the market growth in the Americas.  Europe holds the second largest market for acne treatment across the globe due to availability of funds for research, a huge patient population and increasing teenage population within the region. Asia Pacific is projected to be the fastest growing region for the market for acne treatment. This can be attributed due to increasing prevalence of acne, and continuously developing economies like India and China within the region. Additionally, a developing healthcare sector within the region fuels the market growth. On the other hand, the Middle East & Africa holds the least share in the global acne treatment market. Presence of poor economies, stringent government policies and lack of healthcare services are the factors restraining the growth of the market within the region. It is estimated that a majority of the acne treatment market within the Middle East and Africa is held by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure by the developed economies like Saudi Arabia, Dubai, Kuwait within the region.

Key Players

The key players for the global acne treatment market are ALLERGAN (Republic of Ireland), Galderma S.A. (Switzerland), Stiefel Laboratories, Inc. (U.S.), Valeant (Canada), Johnson & Johnson Services, Inc. (U.S.), GlaxoSmithKline Plc. (U.K), Teva Pharmaceutical Industries Ltd. (Israel), Bayer AG (Germany), Roche Holding AG (Switzerland), and others.

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Beauty Devices Market: Recent Industry Trends and Projected Industry Growth, 2020– 2027

 The Global Beauty Devices Market is expected to grow at a CAGR of 7.8 % during the forecast period 2017-2023. Beauty devices are products that aid in enhancing one’s physical appearance. These devices helps to resolve issues related to skin and hair. These beauty devices have committed to provide the same service as one would get from any aesthetic treatment. Increasing awareness about beauty devices and services, rising geriatric population, increasing hormonal disorders, high disposable income, increasing prevalence of skin and hair problems along with immense technological advancement are the driving factors of the beauty devices market. As per the latest trends in beauty devices market, existing companies are focusing more on unique approaches and innovative technologically advanced devices. This has created competition among existing market players and new entrants will directly lead to decrease in prices.

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Beauty devices have attracted a considerable attention of market, since the technology is developing in almost every aspect of life leading to a higher adoption of these technologically advanced products by the consumers. These beauty devices are accepted by the consumers. However, the presence of reasonable substitutes and side-effects from beauty devices may hamper the upside move of the market over the review period.

Hair removal devices hold the largest global market share of beauty devices, owing to increasing prevalence of polycystic ovary syndrome (PCOS) and hormonal problems among females. According to CDC, PCOS is affecting 6% to 12% of the U.S. women of reproductive age.

Beauty Devices Market Intended Audience

• Product manufacturers
• Beauty Devices manufacturer
• Research and Development (R&D) Companies
• Hospitals and Laboratories
• Medical Research Laboratories
• Academic Medical Institutes and Universities 

Beauty Devices Market Segmentations The global beauty devices market is segmented on the basis of type, application, and end user.

On the basis of type, it is segmented into hair care, skin care, oral care, and others. Furthermore hair care segmented into hair removal devices, hair growth devices, hair styling devices, and others and skin care segmented into light/led and photo rejuvenation therapy devices, cellulite reduction devices, acne removal devices, and others.

On the basis of application, it is segmented into commercial purpose and others. Furthermore commercial purpose segmented into salon/spas, hospitals/clinics, and others

On the basis of end user, it is segmented into professional and personalized. 

Beauty Devices Market Regional Analysis The Americas dominate the global beauty devices market owing to well-developed technology, increasing patient with PCOS, rising aging population, and increasing government support for research & development. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region. Some regions of Latin America are also expected to rise at a faster pace.

Europe holds the second position in the global beauty devices market owing to the government support for research & development and availability of funds for research. This is expected to continue to drive the European market over the forecasted period. For instance, countries like Germany and France are increasing investment in the healthcare domain.

Asia Pacific is the fastest growing acquired beauty devices market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, increasing demand for new treatment methods in countries like India and China is likely to emerge as the fastest growing market across the globe. Furthermore, increasing demand for quality devices in healthcare, is projected to lead to the use of advanced equipment, which, in turn, will increase the market growth of the acquired aplastic anemia in the region. In the Asia Pacific region, China is commanding the largest market share owing to tremendous economic development and increasing aging population.

On the other hand, the Middle East and Africa is expecting a luxurious growth in coming years. On the basis of consumer awareness, the usage of beauty devices is dominant across all age groups. Beauty Devices Market Key Players Some of key the players in the market are L'Oreal S.A., Nu Skin Enterprises, Panasonic Corporation, Syneron Medical Ltd, Home Skinovations Ltd, TRIA Beauty Inc, Procter & Gamble Co, PhotoMedex Inc, Tria Beauty Inc.

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Immunoassay Analyzers Market – Insights on Upcoming Trends 2027

 Immunoassay is a test that measures the concentration of analytes in blood samples, this is done by an instrument known as immunoassay analyzer. This instrument measures the presence or concentration of proteins in analyte samples; using antigen-antibody binding properties. Increasing demand for the new and better drugs has led to increase the number of testing procedures. These assays are used to monitor and measure different types of diseases. The global immunoassay analyzer market is majorly driven by an increasing prevalence of different infectious, immunological or metabolic diseases, increasing demand of advanced diagnostic devices and recent trends of automation and integration which together have led to the introduction of innovative products in this market. According to the Center of Disease Control and Prevention, over 17.8 million people suffers from infectious diseases each year. Beside this, rising number of patient suffering from cardiovascular diseases and diabetes has stimulated the demand for the different drugs and tests ultimately led to the growth of the market. Furthermore, increasing geriatric population, changing lifestyle, growing habit of smoking and drinking along with increasing spending on healthcare have also fuelled the growth of this market. However, test and assays performed are strictly monitor and thus, strict regulatory requirement and high cost of the instruments may hinder this market’s growth.

The global immunoassay analyzers market is growing at a healthy CAGR of 15.6% during the forecast period of 2017-2023.

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Segmentation

The global immunoassay analyzer market is segmented on the basis of instruments, applications, and end users. On the basis of instruments, the market is classified into immunofluorescence, chemiluminescence, ELISA, enzyme linked fluorescent system, multiplexed assay system, radioimmunoassay and others. On the basis of application, the market is segmented into infectious diseases, autoimmune diseases, AIDS, endocrinology, drug monitoring, cardiology, oncology, allergy testing and others. On the basis of end users, the market is categorized into hospitals, diagnostic laboratories, research institutes, and others. 

Regional Analysis

The global immunoassay analyzer market is dominated by America, which is followed by Europe. Presence of huge diabetic and cancer population, large geriatric population, and well developed healthcare sector has driven this market’s  growth in America.   Europe immunoassay analyzer market is majorly driven by the presence of large number of pharmaceutical and biotechnological companies. Along with these, Asia Pacific also has the fastest growing immunoassay analyzer market due to rapidly developing economies with huge population base, mainly in India and China. However, the Middle East & Africa has the least market due to limited development in the healthcare sector. 

Some of the major key player of this market are F. Hoffmann-La Roche Ltd.  (Switzerland), Siemens Ltd. (Germany), Abbott (US), Beckman Coulter, Inc. (US), Ortho Clinical Diagnostics (US), bioMérieux Private Limited (France), Biokit S.A (Spain), The Binding Site Group Ltd. (UK), Immunodiagnostic Systems (UK), Merck KGaA (US), Olympus Corporation (Japan), Nova Century Scientific, Inc. (US), Thermo Fisher Scientific (US), DiaSorin S.p.A. (Italy), and Randox Laboratories Ltd. (UK) 

Increasing prevalence of different types of chronic diseases is fueling the growth of this market. The global immunoassay analyzer market is a highly competitive market due to the presence of many small and medium companies. These companies are focusing on the development of new and advances devices, while some companies have adopted strategies of acquisitions and strategic alliances, this will consequently lead to this market’s growth.
Hoffmann-La Roche Ltd, a Swiss multinational healthcare company, operates under two division, which are diagnostics and pharmaceuticals. In 2016, the company launched the new cobas e 801 module, which will help hospitals and laboratories to meet the demand of diagnostic testing. Cobas e 602 is one of the most widely used devices of this company. 

Beckman Coulter, Inc., headquartered in California, US, is a manufacturer of biomedical laboratory instruments. In 2015, the company completed the acquisition of MicroScan from Siemens Healthcare. UniCel DxI 800, UniCel DxI 600, and Access 2 are some of the major immunoassay analyzer manufactured by this  company. 

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