Diagnostic Specialty Antibodies Market

• According to Transparency Market Research’s latest report on the global diagnostic specialty antibody market for the historical period 2017–2018 and forecast period 2019–2027, advancements in antibody development technology have revolutionized the diagnostic science through which antibodies can be produced against any pathogenic antigen and transformed the diagnostic industry.
• According to the report, the global diagnostic specialty antibody market was valued at US$ 22.6 Bn in 2018 and is anticipated to expand at a CAGR of 5.3% from 2019 to 2027

To know the scope of our report Get a Sample on Diagnostic Specialty Antibodies Market?

Increase in Reported Cases of Diagnostic Specialty Antibody: A Key Driver

• Increase in clinical research, evolution of infectious diseases, and unhealthy lifestyle of the population has led to innovation of new biological drugs as well as diagnostic kits. Several biotechnology and biopharmaceutical companies offer different diagnostic assays to meet the unmet medical needs of the health care system, which augment the diagnostic specialty antibody market.
• In 2014, Epitope Diagnostics, Inc. launched a new set of monoclonal antibody MMAE-ADC and MMAF-ADC ELISA kits, which are specific to detecting monomethyl auristatin E (MMAE) and monomethyl auristatin F (MMAF), the two anti-cancer compounds. Launch of such innovative antibody based diagnostic kits is likely to enable the measurement of the disease condition more accurately. This is likely to increase interest of diagnostic laboratories and hospitals to use these products, which are likely ti augment the growth of diagnostic specialty antibody market
• Governments of several countries are investing in diagnostic health care. According to the World Bank, global healthcare expenditure was 6% of GDP. In 2016, world health care expenditure was US$ 6.5 Trn. In 2015, health care spending in the U.S. increased by 5.8% to reach US$ 3.2 Trn. The overall share of the U.S. economy devoted to health care spending was 17.8% in 2015, up from 17.4% in 2014. In 2015, total government health care expenditure in Europe was 7.2% of GDP.
• With respect to government investment in developing antibody-based diagnostic kits, in February 2018, the Bio & Medical Technology Development Program of the National Research Foundation of Korea developed a rapid diagnostic test kit to detect IgG and IgM antibody against Zika virus using monoclonal antibodies and the whole research was funded by the Government of South Korea, likely to drive the diagnostic specialty antibody market.

Get a glimpse of the in-depth analysis through our Report Brochure

Failure of Antibodies in Rapid Diagnostic Test for Routine Diagnosis to Hamper Global Diagnostic Specialty Antibody Market

• The Ministry of Health and Family Welfare, Government of India, indicated that the use of antibody detecting rapid diagnostic test (ADRDTs) is not the solution to diagnosis of diseases such as malaria, because serelogical testing is not practical for routine diagnosis of an acute parasite infectious disease in terms of the time required for development of antibody. Moreover, in endemic areas of India, the antibody detecting rapid diagnostic test gave false positive test results, as patients suffer due to other reasons. Hence, from March 2018, the Ministry of Health and Family Welfare, prohibited the use of antibody detecting rapid diagnostic tests for routine diagnosis of malaria. Such incidences are projected to hamper the growth of the diagnostic specialty antibody market.

North America to Account for Major Share of Global Diagnostic specialty antibody Market

• North America leads the global diagnostic specialty antibody market commanding more than 40% share in the global diagnostic specialty antibody market. Recent advances in diagnostic specialty antibody diagnostics, reimbursement for disease screening, and improved access to diagnostics are the major drivers of the diagnostic specialty antibody market in North America.  U.S. is expected to hold major share in the North America diagnostic specialty antibody market during the forecast period, owing to developed health care infrastructure in the region and large patient population along with increasing technological development.
• Increase in government intervention in the emerging markets has led to rise in awareness about diseases and improvement in the health care infrastructure. Additionally, socioeconomic development has been observed in emerging economies such as Asia, Africa, and Latin America. These factors contribute to the overall increase in spending capacity of the population which likely expect to increase market share of Asia, Africa, and Latin America diagnostic specialty antibody market.
• Moreover, prevalence of life threatening diseases and infectious diseases such as COVID-19 is high in these regions. According to the WHO estimates, 4.2 million cases were detected till May 13 2020, with nearly 2.9 lakh COVID-19 related deaths. The number of COVID cases is expected to increase across the globe, with 50% of cases in Africa, Asia, and Latin America. Hence, increase in investment in these emerging markets is a major opportunity for key players, and these are anticipated to be major markets for diagnostic specialty antibody infection.

Expanding operations in future? To get the perfect launch ask for a custom report 

Global Diagnostic Specialty Antibody Market: Competitive Landscape

• This report profiles major players in the global diagnostic specialty antibody market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
• Key players operating in the global diagnostic specialty antibody market include Abcam plc, Sanofi, Abbott laboratories, Hoffmann-La Roche Ltd., Danaher Corporation, Bio-Rad Laboratories, Inc., Boehringer Ingelheim International GmbH, Agilent Technologies, Inc., and Aytu BioScience, Inc.
• Leading players operating in the global diagnostic specialty antibody market are
  • F. Hoffmann-La Roche Ltd
  • Sanofi
  • Abbott Laboratories.
• These players offer products with proprietary technologies. Others include
  • Abcam plc
  • Bio-Rad Laboratories, Inc.
  • Boehringer Ingelheim International GmbH
  • Agilent Technologies, Inc.
  • Aytu BioScience, Inc.
  • Aytu Bioscience, Inc.
• invests in research and developmental activities to develop new and innovative products. It recently acquired and anticipates to commercialize FDA-approved ProstaScint (capromab pendetide), a radiolabeled monoclonal antibody. In January 2016, the company acquired a high-performance analytical flow cytometer platform from Propel Labs. This enables advanced and novice users to perform basic and multi-parameter cytometry for a wide range of applications and chemistries.

Global Diagnostic Specialty Antibody Market: Key Developments

High unmet needs in the global diagnostic specialty antibody market present lucrative opportunities for existing players and new entrants. For instance, Abcam plc plans to strengthen its position in Asia, specifically in China, to increase market share in unpenetrated segments and offer custom products and licensing. Additionally, in November 2016, Roche launched the global cancer immunotherapy Centers of Research Excellence (imCORE) network which brings together world’s leading scientific and clinical experts in cancer immunotherapy to collaborate in investigating promising new treatment approaches. The company announced investment up to CHF 100 Mn (US$ 98 Mn) to support basic and clinical research collaborations related to cancer immunotherapy.

The report on the global diagnostic specialty antibody market discusses individual strategies followed by company profiles of manufacturers of diagnostic specialty antibody treatment products. The competitive landscape section has been included in the diagnostic specialty antibody market report to provide readers with a dashboard view and a company diagnostic specialty antibody market share analysis of key players operating in the global diagnostic specialty antibody market.