Labiotech:
You may have heard of the enzyme-linked immunosorbent assay, more commonly known as the ELISA test, which is used to measure molecules like antibodies, antigens and proteins in biological samples. Used to diagnose infections caused by human immunodeficiency viruses (HIV) as well as to detect the pregnancy hormone human chorionic gonadotropin (hCG) in urine samples through home pregnancy kits, these tests fall under a category known as molecular diagnostics.
The molecular diagnostics sector is a $23.2 billion industry, according to a report by Markets and Markets Research in 2022, and is poised to steadily grow by 5.4% in the next four years – to a predicted market value of $30.2 billion by 2027.
