The immunoassay in R&D market is highly competitive with mainly global and regional players operating in the market. It is decisive for companies in the market to provide cost-efficient products to survive and succeed in an intensely competitive market environment.
The above diagram displays the market share generated by companies in the global immunoassay in R&D market in the year 2017. The global market was led by F. Hoffmann-La Roche AG with 13.3% followed by Thermo Fisher Scientific Inc. with 11.7%, bioMerieux Inc. with 10.4%, Siemens Healthineers with 8.1%, Abbott Laboratories with 4.3%, Becton, Dickinson and Company with 3.6%, Bio-Rad Laboratories with 2.7% of the market share, and Sysmex Corporation with 1.2% of the market share. Other companies manufacturing immunoassay products and providing software and services accounted for about 55.3% market share in 2017.
F. Hoffman-La Roche accounted for a market share of 13.3% in 2017. The company has a diverse product portfolio for immunoassay including Cobas Analyzer Series, Tina-Quant IgA CSF and Tina-Quant IgM CSF, and homogeneous immunoassays products. Apart from this, the company recently launched its first fully automated Zika IgG immunoassay to help detect the Zika virus.
Thermo Fischer Scientific accounted for a share of 11.7% in the global immunoassay market. The company has an extensive portfolio for immunoassay which includes Enzyme-linked immune sorbent assay (ELISA) kits, western blotting systems and reagents, and Luminex technology multiplex assays, among others.
bioMérieux accounted for a market share of 10.4% in 2017. The share of the company is due to the high adoption of its immunoassay products in R&D laboratories. It has the largest installed base of immunoassay systems in clinical laboratories. For Instance, the company has approximately 35,000 VIDAS systems installed worldwide. Moreover, the company is present in more than 150 countries through 43 subsidiaries and a strong network of distributors.
Siemens Healthineers held a market share of 8.1% in 2017. The company is engaged in strategic merger activities which have helped in strengthening its brand image. The share of the company is mainly due to its immunoassay products brand ADVIA, IMMULITE, and Atellica, among others. Also, the company is involved in successful product launches in recent years.
Abbott Laboratories, Inc. is a prominent player and accounted for a market share of 4.3% in the year 2017. The company has a decent product portfolio for immunoassays. Also, the company is increasing its focus towards new product launches to sustain its market share. For Instance, in October 2017, Abbott Laboratories, Inc. announced the US Food & Drug Administration (FDA) clearance for its Alinity CI-Series instruments for clinical chemistry and immunoassay.
Becton, Dickinson and Company accounted for a market share of 3.6% in the global immunoassay in R&D market. The company has a wide product range for immunoassay. Additionally, the company is involved in strategic partnerships and collaborations.
Bio-Rad Laboratories, Inc. held a market share of 2.7%. The company’s products and solutions portfolio are based on technologies to separate, purify, identify, analyze, and amplify biological matter, such as antibodies, acids, cells, and bacteria among others. The company is actively involved in new product launches to strengthen its market presence in the life science sector.
Sysmex Corporation is increasing its presence in immunoassay products. It accounted for a market share of 1.2% in 2017. The company also offers automated immunochemistry systems, which perform assays on minute sample quantities, reagents for liver fibrosis progression and atopic dermatitis test, and support services for its products. Moreover, the company is involved in the development of new products and launches. In March 2018, Sysmex Corporation launched the Automated High-sensitive Immunoassay System for Research Applications HI-1000.
Other companies accounted for a market share of 55.3% as there are a large number of companies which are engaged in manufacturing ELISA kits, western blotting systems and reagents, and immunoassay analyzers and reagents. Other companies present in the market are Qiagen, Mindray, Quidel Corporation, Agilent Technologies, Merck, DiaSorin, PerkinElmer, Bio-Techne, Ortho-Clinical Diagnostics, and GE Healthcare. Apart from these established companies, there are several medium and small-scale players in the market.
Bargaining Power of Suppliers
The bargaining power of suppliers in the immunoassays in R&D market is medium to high. In this market, the suppliers are instruments parts manufacturers, chemical manufacturers, consumable and accessories manufacturers. There are many major and small manufacturers are providing these materials. Additionally, as it is a fairly consolidated market, there is less scope for price differentiation for the suppliers.
Bargaining Power of Buyers
The bargaining power of buyers is medium to high in the global immunoassays in R&D market. The market has a large number of buyers (i.e., pharmaceutical and biotechnology companies), and many immunoassay manufacturing companies are present to cater to the need of the buyers. Also, most of the buyers are research institutes, and due to the budget constraints, they highly price sensitive. Thus, the buyers can exert moderate pressure on the immunoassay manufacturing companies. Furthermore, the market is characterized by a moderate degree of brand identity.
Threat of New Entrants
The threat of new entrants in the global market is low. Any immunoassay products manufacturing company trying to enter the market is required to accept and abide by the mandatory regulatory standards. The market is characterized by a reasonable degree of brand loyalty. Additionally, huge capital is required to set-up an immunoassay products manufacturing company which further restrains the entry of new entrants in the market.
Threat of Substitutes
The threat of substitutes in the global immunoassays in R&D market is medium. Many immunoassay equipment and products are present in the market and buyer propensity to substitute is moderate due to the high availability of substitutes in this market.
Intensity of Rivalry
The degree of competition in the market is high as the market is highly consolidated. A medium degree of product differentiation among existing players is increasing the intensity of rivalry in the global immunoassays in R&D market. Currently, the market is dominated by Tier I companies.
