Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Global Monoclonal Antibody Diagnostic Reagent Market: Analysis By Tests, By Application, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
In 2022, the global monoclonal antibody diagnostic reagent market was valued at US$8.85 billion, and is probable to reach US$18.63 billion by 2028. The global monoclonal antibody diagnostic reagent market value is projected to grow at a CAGR of 13.25%, during the forecast period of 2023-2028.
Monoclonal Antibody Diagnostic Reagents: Pioneering Medical Detection
Monoclonal Antibody Diagnostic Reagents, powered by monoclonal antibodies as their active components, play a pivotal role in identifying infectious pathogens, abnormal cells, and the body's response to illness. These reagents not only serve as diagnostic tools but also hold the promise of transforming the therapeutic landscape.
A Bright Future for Monoclonal Antibody Therapeutics
The market for Monoclonal Antibody Diagnostic Reagents is poised for significant growth, driven by a robust pipeline of monoclonal antibody therapeutics in development. These therapeutics hold the potential to treat a wide spectrum of diseases, spanning cancer, autoimmune disorders, and infectious diseases. Moreover, substantial strides in monoclonal antibody synthesis and purification have reduced costs, increased availability, and expanded the applications of diagnostic reagents.
ELISA Emerges as a Key Player
In 2022, the Enzyme-Linked Immunosorbent Assay (ELISA) segment dominated the market. ELISA, a popular biochemical technique, is adept at identifying specific proteins, antibodies, antigens, or other compounds in biological samples. This dominance is further fueled by the rising prevalence of chronic diseases like cancer, infectious diseases, and autoimmune disorders, all of which can be diagnosed and monitored through ELISA tests.
Revolutionizing Tumor Monitoring
Tumor Monitoring took the lion's share of the market in 2022, as these diagnostics excel in detecting tumor markers, imaging tumors, and targeting them for therapy. This contributes significantly to enhancing the diagnosis, treatment, and monitoring of cancer. On the other hand, the Virus Detection segment is projected to achieve the fastest Compound Annual Growth Rate (CAGR) due to the high specificity of monoclonal antibodies for detecting minute amounts of antigens, making them indispensable for virus detection.
North America Leads the Way
North America emerged as the market leader in 2022, primarily driven by increased research and development investments and government funding for cancer research. The region's robust healthcare infrastructure, particularly in the United States, facilitates the adoption of advanced diagnostic technologies, including monoclonal antibody-based diagnostic reagents.
Asia Pacific: A Growing Powerhouse
Asia Pacific is anticipated to experience the swiftest CAGR in the monoclonal antibody diagnostic reagent market. The region's heavy investments in healthcare by governments and private organizations are leading to the establishment of new diagnostic facilities and the adoption of cutting-edge technologies like monoclonal antibody diagnostic reagents. This growth trajectory underscores the region's emergence as a healthcare innovation hub.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has a positive impact on the global market because the pandemic has had a significant impact on the discovery, manufacture, and use of monoclonal antibody diagnostic reagents. Several monoclonal antibody diagnostic reagents have been developed for COVID-19.
These reagents are being used in clinical trials and are expected to be available for widespread use in the near future. The pandemic has also led to increased funding for research and development of monoclonal antibody diagnostic reagents. The impact of COVID-19 on the market is likely to be long-lasting.
Global Monoclonal Antibody Diagnostic Reagent Market Dynamics:
Growth Drivers: Monoclonal antibody diagnostic reagents aid in the early identification and accurate diagnosis of many cancers. Early detection is crucial because it enables timely intervention and potentially life-saving therapy.
Monoclonal antibodies are particularly designed to target cancer-related antigens or biomarkers found in patient samples such as blood, tissue, or urine. Further, the market is expected to increase due to aging population, amplified disposable income, growing healthcare expenditure, growth in investments in biotech companies, extensive R&D efforts to develop novel therapies, etc.
Challenges: The market's expansion is projected to be hampered by high cost. This pricing barrier affects many areas of monoclonal antibody-based diagnostics, including accessibility, affordability, and sustainability. Monoclonal antibody diagnostic reagents are typically more expensive than other types of diagnostic reagents. The other challenges that monoclonal antibody diagnostic reagent market faces include limited availability.
Trends: One of the most distinct and pervasive trends observed in the global monoclonal antibody diagnostic reagent market is increasing availability of point-of-care testing (POCT). Point-of-care testing (POCT) allows for the testing of patients at the point of care, such as in doctor's offices or clinics. This is convenient for patients and can help to improve patient outcomes. Monoclonal antibody diagnostic reagents are well-suited for POCT applications.
POCT is emerging as a significant trend in the monoclonal antibody diagnostic reagent market. More trends in the market are believed to augment the growth of monoclonal antibody diagnostic reagent market during the forecasted period include, growing use of multiplexed assays, technological advancements and development of new monoclonal antibody-based therapies, etc.
Competitive Landscape and Recent Developments:
The key players are constantly investing in strategic initiatives, such as new product launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in January 2022, Ono Pharmaceutical Co., Ltd. Collaborated with Neuroimmune AG to develop the mAb drug against novel therapeutic targets for neurodegenerative diseases.
Global Market Analysis
- Global Monoclonal Antibody Diagnostic Reagent Market: An Analysis
- Global Monoclonal Antibody Diagnostic Reagent Market: An Overview
- Global Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Monoclonal Antibody Diagnostic Reagent Market by Test (Enzyme Linked Immunosorbent, Double Antigen Sandwich Chemiluminescence Method, Assay Recombinant Immunoblot and Dot-immunogold Filtration Assay)
- Global Monoclonal Antibody Diagnostic Reagent Market by Application (Tumor Monitoring, Virus Detection, Hormones Diagnosis and Others)
- Global Monoclonal Antibody Diagnostic Reagent Market by Region (North America, Europe, Asia Pacific and Rest of the World)
- Global Monoclonal Antibody Diagnostic Reagent Market: Tests Analysis
- Global Monoclonal Antibody Diagnostic Reagent Market: Tests Overview
- Global Enzyme Linked Immunosorbent Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Double Antigen Sandwich Chemiluminescence Method Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Assay Recombinant Immunoblot Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Dot-immunogold Filtration Assay Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Monoclonal Antibody Diagnostic Reagent Market: Application Analysis
- Global Monoclonal Antibody Diagnostic Reagent Market: Application Overview
- Global Tumor Monitoring Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Virus Detection Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Hormones Diagnosis Monoclonal Antibody Diagnostic Reagent Market by Value
- Global Other Application Monoclonal Antibody Diagnostic Reagent Market by Value
Market Dynamics
Growth Driver
- Escalating Incidence of New Cancer Cases
- Aging Population
- Amplified Disposable Income
- Growing Healthcare Expenditure
- Growth in Investments in Biotech Companies
- Extensive R&D Efforts to Develop Novel Therapies
Challenges
- High Cost
- Limited Availability
Market Trends
- Increasing Availability of Point-of-care Testing (POCT)
- Growing Use of Multiplexed Assays
- Technological Advancements
- Development Of New Monoclonal Antibody-based Therapies
Company Profiles
- Becton, Dickinson and Company (BD Biosciences)
- Merck & Co., Inc.
- Qiagen
- Bio-Rad Laboratories, Inc.
- Abcam Plc., (BioVision)
- Innovent Biologics, Inc.
- Celltrion, Inc.
- Eurogentec (AnaSpec)
- BioGenex
- Biocare Medical LLC
- Aviva Systems Biology
- Medix Biochemica
- Creative Diagnostics
- Cell Signaling Technology
For more information about this report visit https://www.researchandmarkets.com/r/54il63
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
