New York, April 13, 2023 (GLOBE NEWSWIRE) -- The global Antibody Testing Market is expected to generate US$ 7.9 billion in revenue by 2022, and is projected to grow at a CAGR of 7.6% to US$ 17.7 billion by the end of 2033. The increasing demand for COVID-19 antibody testing and the rising prevalence of infectious diseases are the primary factors driving the growth of the market.
The growing adoption of antibody testing for disease diagnosis and the increasing use of point-of-care testing are also contributing to the growth of the market. Antibody Testing refers to the production and sales of tests used to detect antibodies in the blood of individuals. Antibody tests are used to determine if an individual has been infected with a particular pathogen, such as a virus or bacterium, by detecting the presence of specific antibodies in the blood.
The market has been growing steadily due to the increasing demand for COVID-19 antibody testing and the rising prevalence of infectious diseases. This report aims to provide an overview of the current state of the Antibody Testing Market and the factors driving its growth.
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Key players in the antibody testing market include Thermo Fisher Scientific., Abbott Laboratories, Bio-Rad Laboratories, In, Beckton, Dickinson and Company, F. Hoffmann-La Roche, Agilent Technologies, DiaSorin, Zeus Scientific, Abcam PLC, Trinity Biotech, Werfen (Biokit), Promega, BioLegend, Meridian Bioscience, Bio-Techne (R&D Systems) These companies are engaged in developing and marketing a range of antibody testing products and services, including ELISA tests, rapid diagnostic tests, and point-of-care testing devices, to meet the growing demand for antibody testing in healthcare settings.
Antibody Testing Market Driver:
The antibody testing market is primarily driven by the increasing prevalence of infectious diseases such as COVID-19, HIV, and hepatitis. With the rise in the incidence of these diseases, there is a growing need for accurate and reliable diagnostic tests that can detect the presence of antibodies in the blood. Antibody testing plays a critical role in disease diagnosis and management, especially in pandemics like COVID-19, where testing is essential to control the spread of the disease.
The growing demand for personalized medicine is also driving the growth of the antibody testing market. Antibody testing enables healthcare professionals to tailor treatments to individual patients based on their immune response to a particular pathogen. This approach can improve treatment outcomes and reduce the risk of adverse reactions to medications.
Furthermore, the development of advanced diagnostic technologies is boosting the growth of the antibody testing market. For instance, point-of-care testing devices that can provide rapid and accurate results are becoming increasingly popular, particularly in resource-limited settings where access to laboratory testing is limited. Additionally, advancements in automation and robotics technology are enabling laboratories to process a large number of tests efficiently and accurately, further fueling market growth.
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Antibody Testing Market Future Scope
One of the key drivers of the market is the increasing adoption of point-of-care testing devices. These devices offer several advantages over traditional laboratory-based tests, including faster turnaround times, lower costs, and the ability to perform tests in remote or resource-limited settings. As a result, demand for point-of-care testing devices is expected to increase in the coming years, driving market growth.
Another important factor driving the market is the increasing focus on personalized medicine. As healthcare systems continue to shift towards more personalized approaches to treatment, the demand for diagnostic tests that can help tailor treatments to individual patients is expected to grow. Antibody testing is an important tool in this regard, as it can provide information about a patient's immune response to a particular pathogen, which can help guide treatment decisions.
Additionally, the ongoing COVID-19 pandemic is expected to continue to drive demand for antibody testing in the coming years. As vaccination programs roll out globally, there will be a need to monitor the effectiveness of vaccines and to detect new variants of the virus. This will require ongoing testing and surveillance, which is expected to support market growth.
Market Segmentation:
By type, the market can be segmented into primary and secondary antibodies. By technology, the market can be segmented into enzyme-linked immunosorbent assay (ELISA), lateral flow immunoassay (LFIA), chemiluminescence immunoassay (CLIA), and others.
By application, the market can be segmented into infectious diseases, autoimmune diseases, oncology, and others.
By end-user, the market can be segmented into hospitals and clinics, diagnostic laboratories, research and academic laboratories, and others.
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Regional Analysis:
North America is expected to dominate the Antibody Testing Market during the forecast period, due to the increasing demand for COVID-19 antibody testing and the rising prevalence of infectious diseases in the region. Europe is also expected to witness significant growth, due to the growing adoption of antibody testing for disease diagnosis and the increasing use of point-of-care testing. The Asia Pacific region is expected to grow at the highest CAGR, due to the increasing awareness about infectious diseases and the rising demand for point-of-care testing in countries such as China and India.
Recent Developments:
- In March 2021, Abbott Laboratories announced that it had received Emergency Use Authorization (EUA) from the US FDA for its Alinity™ i SARS-CoV-2 IgG test, which detects the presence of antibodies against the COVID-19 virus. The test can be used with Abbott's Alinity™ i system, a fully automated immunoassay platform, and delivers results in as little as 10 minutes.
- In February 2021, Roche announced that it had received CE Mark approval for its Elecsys® Anti-SARS-CoV-2 S test, which detects antibodies against the spike protein of the COVID-19 virus. The test can be used to determine whether individuals have been infected with the virus and have developed an immune response, and can also be used to monitor the immune response of individuals who have received a COVID-19 vaccine.
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