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In 2019, Immunoprecise Antibodies Ltd., one of the major player in the life science market announced the launch of new rabbit monoclonal antibodies, which can be utilized for diagnosis of tuberculosis. Additionally, the collaboration of technology and life science is continuously evolving to offer advanced patient care with the help of superior devices. For instance, electronic devices such as biosensors (which uses biological entity such as antibodies for disease detection) are extensively utilized to accelerate the process of disease diagnostics. The exponentially growing prevalence of chronic diseases further serves a huge opportunity for adoption of diagnostic antibodies.
For instance, according to the National Cancer Institute, in 2018, an estimated 1,735,350 new cancer cases were diagnosed in the U.S. alone. Additionally, increasing FDA approvals for disease diagnostic tools are projected to offer a favorable environment for the growth of the global diagnostic antibodies market during the forecast period. In 2018, the FDA approved 38 supplemental drugs and biologics, 6 new anticancer indications and 4 biosimilars in oncology.
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The global diagnostic antibodies market is expected to register marginally higher demand due to the increasing prevalence of chronic diseases such as cancer, HIV, influenza, and others. According to data published by National Institutes of Health (NIH) in 2018, one in seven people across the globe causes death due to cancer. Additionally, certain benefits offered by diagnostic antibodies such as minimal costs, minimally invasive procedure and reduction in overall diagnostic time is expected to boost the growth of the global diagnostic antibodies market during the forecast period.
Lack of infrastructure and reluctance of government authorities to promote the research processes in antibodies field in emerging nations are expected to deter the growth of the global diagnostic antibodies market in forthcoming years.
Major key players operating in the global diagnostic antibodies market are Aytu BioScience, Inc., Agilent Technologies, Inc., Boehringer Ingelheim International GmbH, Bio-Rad Laboratories, Inc., Abcam plc., F. Hoffmann-La Roche Ltd., Abbott amongst others.
· Monoclonal Antibodies
· Polyclonal Antibodies
· Recombinant Polyclonal Antibodies
· Hepatitis Diagnostics
· Tuberculosis Diagnostics
· Cancer Diagnostics
· Oncology Diagnostics
· HIV Diagnostics
· Infectious Disease Diagnostics
By End User
· Diagnostic Centres
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the application segments, cancer diagnostic in the application segment is expected to register comparatively higher CAGR owing to the growing prevalence of cancer followed by the huge investment made by prominent players and government authorities in cancer prevention programs.
North America is expected to register comparatively faster growth in the global diagnostic antibodies market owing to the need for superior and efficient alternative for conventional diagnostic methods. Moreover, the rapidly growing infrastructure supported by government and research institutions is expected to fuel the growth of the global diagnostic antibodies market. Though awareness about antibodies diagnostics and infrastructure including advanced laboratories and expertise in emerging nations is less as compared to developed nations, Asia Pacific region is expected to witness higher penetration of diagnostic antibodies due to rapidly increasing patient pool and climbing demand for comparatively faster diagnostic alternatives.
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