According to the research report titled ‘Global Chemiluminescence Immunoassay Market Size study, by Product (Instruments, Consumables, Software & Services) End-use (Hospitals, clinical laboratories, pharmaceutical & biotechnology companies, others) Application (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease, Autoimmune Disease, Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global chemiluminescence immunoassay market was worth USD 7.34 billion in 2020 and is expected to register 7.9% CAGR over 2021-2027 to reach a valuation of USD 12.5 billion by the end of the projected timeframe.
 

Increasing awareness about early detection of chronic diseases, launch of new technologies in rapid test, and rising efforts in medication discovery & development are catalyzing the growth of global chemiluminescence immunoassay market.
 

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It is to be noted that chemiluminescence immunoassay, abbreviated as CLIA solutions are used for treating chronic illnesses such as cancer, obesity, diabetes, cardiovascular diseases, autoimmune diseases, and infectious ailments. CLIA is also adopted for therapeutic medication monitoring by several research organizations and pharmaceutical corporations.
 

Growing instances of disability and death caused by chronic diseases is also likely to add substantial traction to market outlook. As per the data provided by Global Cancer Observatory (GCO), 18,078,957 new cancer cases were reported in 2018 all over the world.
 

Despite the positive outlook, high cost of installation is likely to affect product adoption in emerging economies such as Brazil, India, and South Africa, thus hampering worldwide chemiluminescence immunoassay industry expansion over the projected period.
 

Regionally speaking, North America, Europe, Asia Pacific, and Latin America are major benefactors to industry remuneration. Among these, Asia Pacific industry is slated to register a substantial growth rate over the analysis timeframe, attributed to rising awareness of chronic illnesses, primarily in countries such as India and China, coupled with launch of innovative technologies by local players, and increasing approval  of CLIA systems.
 

Leading companies in global chemiluminescence immunoassay market include Mindray Medical International Co., Ltd., Maccura Biotechnology Co., Ltd., Abbott Laboratories, F. Hoffmann-La Roche AG, Immunodiagnostic Systems Holdings plc, Siemens Healthineers AG, Ortho Clinical Diagnostics Holdings plc, Inova Diagnostics Inc., Beckman Coulter Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and DiaSorin S.p.A. among others.