Diagnostic Specialty Antibodies Market to Grow with a CAGR of 5.67% through 2028
Continuous innovations in antibody engineering and
assay development are expected to drive the Global Diagnostic Specialty
Antibodies Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Diagnostic
Specialty Antibodies Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Diagnostic
Specialty Antibodies Market stood at USD 23.07 billion in 2022 and is
anticipated to grow with a CAGR of 5.67% in the forecast period, 2024-2028.
This can be attributed to increased research and development. Pharmaceutical
and biotechnology companies are heavily investing in research and development
to create novel antibodies and diagnostic assays. These innovations are
continually expanding the applications of diagnostic specialty antibodies.
Furthermore, as diagnostic tests become more
personalized and reliant on patient data, ethical considerations surrounding
data privacy, consent, and secure data management will become increasingly
important. Regulatory frameworks will need to adapt to protect patient rights
and privacy.
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The diagnostic specialty antibodies market has been
significantly impacted by the COVID-19 pandemic. The utilization of diagnostic
antibodies experienced a marked increase during the pandemic, as they were
rapidly adopted for detecting COVID-19. For instance, a February 2021 article
published by PubMed Central highlighted that mainstream diagnostic methods for
detecting the SARS-CoV-2 virus included nucleic acid PCR tests and direct viral
antigen tests for active infections, as well as human antibody tests specific
to SARS-CoV-2 for prior exposure. However, as of February 2022, according to
the FDA, SARS-CoV-2 antibody tests could identify individuals who may have been
infected with the virus or had recovered from COVID-19, but were not suitable
for detecting active infections. Presently, the usage of antibodies in COVID-19
testing has declined significantly as other tests like PCR and antigen tests
have gained popularity due to their confirmatory results. Consequently, the
COVID-19 outbreak initially had a positive impact on market growth, but during
the forecast period, the market is expected to revert to pre-pandemic
conditions.
Market growth is anticipated to be driven by
advancements in DNA-based technologies and diagnostics, as well as a
substantial patient population undergoing HIV diagnosis and a growing global
demand for specialty diagnostics. Additionally, the increasing prevalence of
diseases such as infectious diseases, influenza, and cancer is expected to
boost the diagnostic antibodies market. For example, an article from January
2022 published by BMC highlighted the usefulness of immunohistochemistry (IHC)
in detecting pathogen antigens in fixed tissues, complementing the direct
diagnosis of infectious diseases by PCR and culture. IHC has proven efficient
in identifying HIV antigens in fixed surgical and autopsy specimens,
particularly using an anti-p24 monoclonal antibody for detecting HIV in lymph
node biopsies of patients with unexplained follicular hyperplasia.
Moreover, the market's growth is being positively
influenced by new key developments and strategic activities undertaken by major
industry players. For instance, an April 2021 article published by MDPI
emphasized that monoclonal antibodies are emerging as valuable tools in cancer
diagnosis, treatment, and targeted delivery of radiation or chemotherapy.
Researchers have recently cloned a new anti-p16 antibody, which may become a
valuable tool for pathological cancer diagnosis. Consequently, owing to product
launches and strategic partnerships, the market is expected to experience
significant growth over the forecast period.
The Global Diagnostic Specialty Antibodies Market is
segmented into antibody, application, end user, regional distribution, and
company.
Based on its antibody, it is anticipated that there
will be a substantial upswing in the utilization of monoclonal antibodies
throughout the projected period. These antibodies hold a pivotal role in the
detection of various infectious and chronic illnesses, including cancer. The
rise in research endeavors centered on monoclonal antibodies, coupled with
their diverse applications in disease diagnosis, is poised to propel growth
within this segment. Additionally, the escalating incidence of cancer cases and
the heightened awareness regarding early disease detection are expected to
further drive this growth.
Furthermore, the continuous introduction
of new products by key industry players is exerting a positive influence on the
segment's growth trajectory. For instance, in October 2022, Roche unveiled the
Anti-PRAME (EPR 20330) Rabbit Monoclonal Primary Antibody, designed to identify
PRAME protein expression in tissue samples from individuals suspected of having
melanoma. This antibody aids in distinguishing between benign and malignant
lesions, thereby enhancing diagnostic decision-making.
Based on region, North America is poised for
substantial market expansion throughout the forecast period. This projection is
rooted in the region's extensive adoption of various antibody diagnostics,
complemented by its robust healthcare infrastructure. Furthermore, the market
in North America is being propelled by factors such as the introduction of new
products, substantial investments in research and development, and a rising
incidence of cancer cases. Additionally, favorable governmental policies and increased
government funding directed towards cancer research are expected to provide
further impetus to market growth.
The prevalence of cancer in the United States is a
significant driver of market growth in the region. For instance, as reported by
the American Cancer Society in 2021, it is estimated that there will be
approximately 1.9 million new cancer cases diagnosed, with 608,570
cancer-related deaths in the United States during that year. Moreover, the data
from the same source reveals that around 54,010 new cases of oral cavity and
pharyngeal cancer will be diagnosed in the US, leading to 10,850 fatalities.
Notably, the incidence rates for these conditions are more than twice as high
in men compared to women. Consequently, the elevated prevalence of cancer in
the country is expected to drive increased utilization of diagnostic specialty
antibodies, particularly in the field of oncology, thereby further fueling
market growth.
Major companies operating in Global Diagnostic
Specialty Antibodies Market are:
- F Hoffmann-La Roche AG
- Abcam PLC
- Abbott Laboratories Inc
- Bio-Rad Laboratories Inc
- Agilent Technologies Inc
- Creative Diagnostics
- Thermo Fisher Scientific Inc
- Becton Dickinson & Co
- Merck KGaA
- Sartorius AG
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“The Global Diagnostic Specialty Antibodies Market is
on the brink of a transformative era marked by personalized medicine, advanced
technologies, and expanded global reach. These upcoming trends promise to
enhance disease diagnosis and management, improving patient outcomes and
revolutionizing the way healthcare is delivered. Stakeholders in the industry
should remain vigilant, adaptive, and collaborative to harness the full
potential of these trends and drive positive change in the field of diagnostics,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Diagnostic Specialty Antibodies Market By
Antibody (Monoclonal Antibodies, Polyclonal
Antibodies, Recombinant Polyclonal Antibodies), By Application (Dengue
Diagnostics, HIV Diagnostics, Hepatitis Diagnosis, Infectious Disease
Diagnostics, Oncology Diagnostics, Tuberculosis Diagnostics), By End User
(Diagnostic Laboratories, Hospitals, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Diagnostic Specialty Antibodies Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Diagnostic Specialty Antibodies Market.
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