Dublin, May 30, 2022 (GLOBE NEWSWIRE) -- The "Antibody Testing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Products, Indication , End User" report has been added to ResearchAndMarkets.com's offering.
The global antibody testing market was valued at US$ million 7,260.00 in 2021 and is projected to reach US$ 11,578.47 million by 2028 and is expected to grow at a CAGR of 6.9% from 2021 to 2028.
The growth of the antibody testing market is mainly attributed to factors such as rising number of Covid-19 cases worldwide, increasing prevalence of chronic diseases and growing geriatric population. However, the antibody testing market is likely to get impacted by the limitations of antibody screening tests during the forecast period.
Antibodies are immunoglobulins, Y-shaped proteins that are produced by the immune system to help stop intruders from harming the body. An antibody test is a screening for the presence of antibodies in the blood. The body makes antibodies when it fights infection, like COVID-19 or when patients get a vaccine, like a flu shot. That's how immunity to a virus is built. These tests are also called serology tests.
Antibody tests help diagnose an autoimmune disease or rule out other conditions with similar signs and symptoms. In addition, antinuclear antibodies (ANA) are a group of autoantibodies produced by an individual's immune system when it cannot adequately distinguish between "self" and "foreign" components. The global antibody testing market is driven by a rising number of COVID-19 cases worldwide, an increasing prevalence of chronic diseases, and a growing senior population.
Additionally, growing government support is fueling the growth of antibody testing, which influences the development of the global antibody testing market.
Ever since severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) was declared a public health emergency of international concern in late January 2020, medical professionals and researchers have been urging the need for comprehensive and rapid testing of citizens to plan measures that can contain the spread of the virus.
Over time, real-time polymerase chain reaction tests and antibody tests have emerged as vital techniques for the global healthcare system to manage the outbreak. Antibody detection is essential for differential diagnosis of SARS-CoV-2. It is a test performed by patient serum or plasma with reagent red cells.
Determination of specific antibodies to viral and bacterial pathogens and parasites facilitates the correct therapeutic measures to be taken. Antibody testing is critical for implementing an effective and efficient public health strategy to minimize the adverse impact of the COVID-19 pandemic. It should be adopted for important clinical utility cases and support return-to-work strategy globally.
Antibody detection kits are predictive for prognosis and detection of COVID-19 infections to assist the diseases. Since these kits help examine whether a person has developed antibodies in their bloodstream to fight the SARS-CoV-2, it indicates whether a person has been exposed to or has COVID-19.
In order to manage the COVID-19 pandemic and increase patient screening, several companies are offering these rapid antibody detection kits to healthcare workers, hospitals, laboratories, and other professionals. Thus, rising incidence of coronavirus cases and growing government approvals for antibody test kits are the few factors responsible for the growth of the global antibody testing market.
COVID-19 pandemic has become the most significant challenge across the world. This challenge was frightening especially in developing countries across the globe as it will lead to reducing imports due to disruptions in global trade. Till date no definitive treatment against COVID 19 has been established.
Hence, lack of definitive therapy offers significant opportunities for antibody testing market as US FDA has recently approved use of plasma therapy for critically ill COVID 19 patients. In long run antibody testing market would have significant growth prospects as many market players have received emergency use authorization for their newly developed antibody tests. All such developments would add up to the future demand for global antibody testing market.
Key Market Dynamics
Market Drivers
- Increasing Prevalence of Chronic Diseases
- Growing Geriatric Population
Market Restraints
- Limitations of Antibody Screening Tests
Market Opportunities
- Collaborative & Innovation-Driven Strategies
- Growth of Healthcare Sector in Emerging Markets
Future Trends
- Increasing Adoption and Popularity of Automation in Clinical Laboratories
Companies Mentioned
- Thermo Fisher Scientific
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- Beckton, Dickinson And Company
- F. Hoffmann La Roche
- Agilent Technologies
- DiaSorin
- Zeus Scientific
- Abcam
- Trinity Biotech
For more information about this report visit https://www.researchandmarkets.com/r/x1jj39
Attachment
