Diagnostic Specialty Antibodies Market
Number of pages: 100 | Report Format: PDF | Published date: April 11, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 28.91 billion |
|
Revenue Forecast in 2031 |
US$ 43.67 billion |
|
CAGR |
4.5% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Antibody Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global diagnostic specialty antibodies market was valued at US$ 28.91 billion in 2022 and is expected to register a revenue CAGR of 4.5% to reach US$ 43.67 billion by 2031.
Diagnostic Specialty Antibodies Market Fundamentals
Antibodies are an essential component of many diagnostic procedures. Among the applications are the discovery of infections, the classification of allergies, and the determination of hormones and other biological indicators in the blood. Because of their high specificity and selectivity, antibodies have the potential to be very useful as biochemical devices for a variety of uses, such as selection, identification, purification, and therapeutics. Antibodies are broadly classified into two types (polyclonal or monoclonal) and are used in three major categories, i.e., research, diagnostics, and therapeutics.
Monoclonal antibodies (mAbs) are vital proteins used in various life science uses, from diagnostics to pharmaceuticals. The high demand for mAbs for different uses necessitates the development of fast and reliable recombinant manufacturing systems. Plants offer a fast and low-cost method for making transgenic mAbs. Furthermore, when combined with a known mAb discovery tool, plants can be readily customized to make mAbs of various isotypes against the same target.
The use of antibodies in diagnosis is extremely diverse, with numerous uses. Antibody-based diagnostics have grown in importance, especially with the development of monoclonal antibodies. It provides a slightly invasive, cost-effective method that can be modified for various rapid tests, either singly or in tandem. Because of the low cost, basic diagnostic tests, such as pregnancy tests, are widely available, but even comparatively more complex lab-based tests are more accessible.
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Diagnostic Specialty Antibodies Market Dynamics
DNA-based technologies and diagnostics developments are expected to drive market revenue share. Furthermore, the high number of patient groups experiencing HIV diagnosis and the increasing demand for specialized diagnostics are expected to drive the global market revenue. Likewise, the rising incidence of infectious diseases, influenza, and cancer is anticipated to boost the market for diagnostic antibodies. For instance, according to a BMC article published in January 2022, immunohistochemistry (IHC) using monoclonal and polyclonal antibodies is a very useful and popular diagnostic method for detecting pathogen antigens in fixed tissues; it complements the direct diagnosis of infectious diseases by PCR and culture on fresh tissues. According to the paper, the immunohistochemical method quickly and effectively detects HIV antigens in fixed surgical and autopsy tissues. The immunohistochemistry method with an anti-p24 monoclonal antibody has proven to be very helpful for identifying HIV in lymph node biopsies of individuals with unexplained follicular hyperplasia.
Furthermore, major market participants' new key advancements and planned actions favorably influence the market revenue growth. Monoclonal antibodies, for instance, are a new instrument for cancer detection, treatment, and even sending radiation or chemotherapy to specific body regions, according to a paper released by MDPI in April 2021. Researchers recently cloned a novel anti-p16 antibody, which could be useful for pathological cancer detection. As a result of the product launches and collaborations, the studied market is expected to expand significantly during the forecast period.
The rising demand for personalized medicine is another significant development factor for the diagnostic specialized antibodies market. Personalized medicine uses tailored treatments based on an individual's genetic composition or indicators. This strategy helps ensure patients receive therapies that are most likely successful for them while lowering the risk of adverse effects connected with conventional chemotherapy regimens.
Diagnostic Specialty Antibodies Market Ecosystem
The global diagnostic specialty antibodies market is analyzed from four perspectives by antibody type, application, end-user, and region.
Diagnostic Specialty Antibodies Market by Antibody Type
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The global diagnostic specialty antibodies market is segmented based on antibody type into monoclonal antibodies, polyclonal antibodies, and recombinant polyclonal antibodies.
The monoclonal antibody is expected to dominate the market with the largest revenue share during the forecast period. The rising incidence of cancer and other chronic diseases is driving up demand for biologics, driving the rise of the monoclonal antibodies segment. The main factors are increased genomics R&D efforts, as well as the introduction of highly sophisticated genetic tools, such as next-generation sequencing. Furthermore, the technology's low expense makes it an attractive option for conducting research projects to develop mAbs. These generally accepted biologics are expected to give pharmaceutical makers a billion-dollar chance during the forecast period.
Diagnostic Specialty Antibodies Market by Application
Based on application, the global diagnostic specialty antibodies market is segmented into oncology, hepatitis, infectious disease, tuberculosis, dengue, and others.
The HIV diagnostics segment is expected to grow significantly in terms of revenue share and is likely to show high market potential during the forecast period. An increase in the number of HIV-related programs to raise public awareness is expected to strengthen the segment during the forecast period.
Moreover, the prevalence of infectious diseases has contributed to the segment's profitable expansion of revenue further. Another factor for the diagnostic specialty antibodies market is the increasing incidence of infectious diseases.
Moreover, due to the prevalence of infectious diseases, this segment also showed lucrative revenue growth during the forecast period. One of the main development factors for the diagnostic specialty antibodies market is the increasing occurrence of infectious diseases. Pathogens such as bacteria, viruses, and parasites trigger contagious illnesses. These pathogens can induce a variety of infections in any area of the body. Globalization shifts in living and eating practices and greater travel contribute to a rise in the prevalence of infectious diseases.
Diagnostic Specialty Antibodies Market by End User
Based on end users, the global diagnostic specialty antibodies market is segmented into hospitals, diagnostics laboratories, and others.
The hospital segment is likely to dominate the market with the largest revenue share during the forecast period. Hospitals are the market's largest end users because of the increase in diagnostic specialty antibody products and the R&D of specific antibodies that function autonomously in private hospitals and colleges. Most surgeries and other operations are done there since all necessary instruments and technologies are available in hospitals. Hemodialysis procedures performed in hospitals or hospital-affiliated outpatient facilities make managing emergencies easier.
Hospitals are assisting in teaching health authorities and raising awareness about the main antibody deficiency. This contributes to improved patient care and new possibilities for better therapy in primary immunodeficiency diseases.
Diagnostic Specialty Antibodies Market by Region
The global diagnostic specialty antibodies market is segmented based on region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to have a large market revenue share among the regions because of the adoption of different antibody tests and the region's well-established healthcare infrastructure. Furthermore, new product releases, high R&D expenditures, and increasing cancer cases drive market revenue development in this area. Likewise, favorable government policies and increased government funding for cancer studies are expected to drive market revenue growth.
One of the main reasons driving market development is the high prevalence of cancer in the United States. According to the American Cancer Society 2021 data, for example, an expected 1.9 million new cancer cases and 608,570 cancer deaths in the United States will be identified in 2021. Furthermore, an expected 54,010 new instances of cancer of the oral cavity and pharynx (throat) will be identified in the United States, with 10,850 people dying from the illness, according to the same source. Men were discovered to have more than twice the rate of occurrence as women. As a result of the country's high cancer incidence, more diagnostic specialized antibodies will be used.
The Asia Pacific region is expected to experience the fastest revenue growth during the forecast period. The high market development rate has been attributed to the region's growing disease prevalence and higher instances of unintended pregnancies. Furthermore, factors such as the availability of funding for improving diagnosis, the growing number of government initiatives to eradicate infectious diseases, and market developments such as product approvals and distribution agreements for antibody-based test kits have boosted the revenue growth of the global market in the region. Additionally, the allotment of a significant portion of healthcare spending for hospitals and the distribution of medications to the aged is expected to fuel market demand. COVID-19 cases in Asian and African countries are expected to boost demand for diagnostic specialty antibodies. The cases are predicted to increase by about 50%, making investing in this emerging industry an attractive option for important participants.
Competitive Landscape of the Global Diagnostic Specialty Antibodies Market
The diagnostic specialty antibodies market is highly fragmented due to numerous companies working globally and regionally. The competitive environment involves an examination of a few foreign and domestic firms that hold market shares and are well known. Furthermore, key market participants' continuous product launches favorably impact the segment's development. For example, in October 2022, Roche reported the release of Anti-PRAME (EPR 20330) Rabbit Monoclonal Primary Antibody to detect PRAME protein expression in tissue samples from individuals with suspected melanoma. The PRAME (EPR20330) antibody is used to assist in the differentiation of benign and malignant lesions to make better diagnostic choices.
The prominent market players operating in the global diagnostic specialty antibodies include,
Strategic Developments in Diagnostic Specialty Antibodies Market
The Asia Pacific is the key growth region in the global diagnostic specialty antibodies market.
The expected size of the diagnostic specialty antibodies market in 2031 is US$ 43.67 billion.
The revenue CAGR of the diagnostic specialty antibodies market during the forecast period is 4.5%.
The major diagnostic specialty antibodies market players include F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., and Thermo Fisher Scientific Inc.
The oncology segment leads the global diagnostic specialty antibodies market with the largest revenue share.
*Insights on financial performance are subject to the availability of information in the public domain
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