New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Monoclonal Antibody Diagnostic Reagent Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Tests, Application, and Geography," the global monoclonal antibody diagnostic reagent market size is expected to grow from $7.65 Billion in 2021 to $18.50 Billion by 2028; it is estimated to grow at a CAGR of 13.5% from 2022 to 2028.
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Monoclonal Antibody Diagnostic Reagent Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 7.65 Billion in 2021 |
| Market Size Value by | US$ 18.50 Billion by 2028 |
| Growth rate | CAGR of 13.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 252 |
| No. of Tables | 57 |
| No. of Charts & Figures | 73 |
| Historical data available | Yes |
| Segments covered | Tests and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | BioGenex; Bio-Rad Laboratories, Inc.; Biocare Medical, LLC; Celltrion Healthcare Co., Ltd.; Creative Diagnostics; GenWay Biotech; Thermo Fisher Scientific Inc.; ABclonal, Inc.; Apto-Gen; Abcam plc |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Monoclonal Antibody Diagnostic Reagent Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00027682/ |
Browse key market insights spread across 252 pages with 57 list of tables & 73 list of figures from the report, "Monoclonal Antibody Diagnostic Reagent Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Tests (Enzyme Linked Immunosorbent, Double Antigen Sandwich Chemiluminescence Method, Recombinant Immunoblot Assay, and Dot-immunogold Filtration Assay) and Application (Tumor Monitoring, Virus Detection, Hormones Diagnosis, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/monoclonal-antibody-diagnostic-reagent-market
Global Monoclonal Antibody Diagnostic Reagent Market: Competitive Landscape and Key Developments
BioGenex; Bio-Rad Laboratories, Inc.; Biocare Medical, LLC; Celltrion Healthcare Co., Ltd.; Creative Diagnostics; GenWay Biotech; Thermo Fisher Scientific Inc.; ABclonal, Inc.; Apto-Gen; and Abcam plc are operating in the global monoclonal antibody diagnostic reagent market. These players are focusing on expanding their businesses, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.
In August 2022, Thermo Fisher Scientific Inc. announced the opening of its largest single-use technology manufacturing site in Greater Nashville. The facility costs US$ 105 million and covers 400,000-square-foot, enabling the company to help meet the rapidly growing demand for bioprocessing materials that are needed to produce vaccines and breakthrough therapies for cancer and other diseases.
In May 2022, ABclonal Technology announced that it joined the Industry Advisory Committee (IAC) at YCharOS Inc., an open science company with the mission of characterizing commercially available antibody reagents for all human proteins to tackle the reproducibility crisis observed in biomedical research.
Enzyme Linked Immunosorbent Assay Segment to Lead Monoclonal Antibody Diagnostic Reagent Market During 2022–2028:
The report highlights the key factors driving the monoclonal antibody diagnostic reagent market and prominent players with their developments. The market growth is primarily attributed to the rising prevalence of cancer and other chronic diseases, the presence of a strong pipeline of drugs under trial, and extensive R&D efforts to develop novel therapies. However, low awareness, accessibility, and high cost is hampering the market growth.
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In 2021, North America dominated the monoclonal antibody diagnostic reagent market. The US is one of the major countries mainly attributed to the rising prevalence of cancer and flourishing research and development environment. In the US, colorectal cancer is the third leading cause of cancer-related deaths in men and women and the second most common cause of cancer-associated deaths. According to the American Society of Clinical Oncology (ASCO), an estimated 151,030 adults in the US will be diagnosed with colorectal cancer in 2022, including 106,180 new cases of colon cancer (54,040 men and 52,140 women) and 44,850 new cases of rectal cancer (26,650 men and 18,200 women).
Further, players are adopting organic and inorganic strategies for market expansion, such as acquisitions. For instance, in August 2022, Bio-Rad Laboratories, Inc announced that it had reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A. for a total consideration of up to US$ 170 million, consisting of approximately US$ 100 million in cash, and up to US$ 70 million in future milestone payments.
Rising Prevalence of Cancer and Other Chronic Diseases:
As per the American Cancer Society report, the population of cancer survivors in the US is expected to grow from ~16.9 million (since January 2019) to 22.1 million by January 2030 due to the rising aging population. Therefore, the demand for biologics such as monoclonal antibodies (mAbs) is high owing to the rising prevalence of cancer and other chronic diseases. Biologics play a key role in cancer treatment due to the presence of its principal components in many therapeutic regimens and the cost-effectiveness of treatment for patients.
Most licensed mAbs effectively treat noncommunicable diseases, including cancers and autoimmune diseases. Furthermore, successful immunotherapies involving more than 40 licensed mAbs are efficient for revolutionizing cancer treatment and have significantly improved patients' overall and long-term survival compared to traditional approaches such as chemotherapy.
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According to the International AIDS Vaccine Initiative (IAVI) report, the development of mAbs is one of the fastest-growing segments of biomedical research. Further, more than 50 mAbs were licensed in the last six years, and in 2019, seven of the ten best-selling novel drugs for cancer and autoimmune diseases were mAbs. Further, the demand for mAbs has increased with the growing number of noncommunicable and infectious diseases for which mAbs are or might prove effective treatment. The sale of mAbs is predominant in the US, Canada, and Europe. Also, in terms of availability of mAbs in middle-income countries, India represents one of the most ideal countries, largely due to extensive biosimilar manufacturing capacity.
Moreover, several countries are taking strong initiatives to shorten the regulatory process for mAbs that are effective in the treatment of chronic diseases. For example, the Chinese Food and Drug Administration (CFDA), in 2017, announced a collaboration with the International Council for Harmonization to align regulatory processes relating to international standards, resulting in the approval of a number of mAbs, annually. In early 2019, the CFDA approved three mAbs from domestic developers and ten mAbs from multinational pharmaceutical companies. Such factors are stimulating the uptake of mAbs, which is contributing to the monoclonal antibody diagnostic reagent market growth.
Monoclonal Antibody Diagnostic Reagent Market: Segmental Overview
Based on tests, the global monoclonal antibody diagnostic reagent market is segmented into double antigen sandwich chemiluminescence method, enzyme linked immunosorbent assay, recombinant immunoblot assay, and dot-immunogold filtration assay. In 2021, the enzyme-linked immunosorbent assay segment accounted for the largest share in the market, and it is anticipated to register the highest CAGR from 2022 to 2028.
Based on application, the global monoclonal antibody diagnostic reagent market is segmented into hormones diagnosis, tumor monitoring, virus detection, and other application. The tumor monitoring segment held the largest share in the market in 2021, and it is expected to register the highest CAGR during the forecast period.
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