PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464659
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464659
Diagnostic Specialty Antibodies Market size was valued at USD 27,910 Million in 2023, expanding at a CAGR of 5.23% from 2024 to 2032.
Diagnostic specialty antibodies are a type of antibodies that have been specifically designed and are used for diagnostic purposes in different medical and scientific fields. These antibodies are highly precise in targeting their intended molecules, which allows for accurate detection and measurement. They typically recognize unique epitopes on the molecules they are targeting, ensuring that there is minimal interference from other substances. Diagnostic antibodies find applications in various diagnostic techniques such as enzyme-linked immunosorbent assay (ELISA), immunohistochemistry (IHC), western blotting, flow cytometry, and immunofluorescence. By helping to identify and quantify specific analytes in biological samples, these antibodies play a crucial role in the diagnosis and monitoring of diseases.
Diagnostic Specialty Antibodies Market- Market Dynamics
Rise in occurrence of Infectious and chronic diseases are expected to propel the growth of market
Chronic illnesses like cancer, cardiovascular diseases, diabetes, and autoimmune disorders are increasing in prevalence. Diagnostic specialty antibodies are essential for precise diagnosis and monitoring of these conditions. The Centers for Disease Control reports that chronic diseases contribute to approximately 75 percent of healthcare expenses in the United States, amounting to an estimated USD5300 per person per year. Additionally, as healthcare infrastructure improves and healthcare spending rises in emerging markets, there is considerable opportunity for the global expansion of the diagnostic specialty antibodies market. Nevertheless, the high costs associated with the development and validation of these antibodies may hinder market growth.
Diagnostic Specialty Antibodies Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.23% over the forecast period (2024-2032)
Based on product type segmentation, Monoclonal Antibodies was predicted to show maximum market share in the year 2023
Based on application segmentation, Infectious Disease Diagnostics was the leading type in 2023
Based on End User segmentation, Hospitals was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Diagnostic Specialty Antibodies Market is segmented on the basis of Product Type, Application, End-User, and Region.
The market is segmented into three categories according to product type: Monoclonal Antibodies, Polyclonal Antibodies, and Recombinant Polyclonal Antibodies. Monoclonal Antibodies hold the largest share in the market. Monoclonal antibodies are essential in the diagnostic specialty antibodies market, providing exceptional specificity and reproducibility for a wide range of diagnostic purposes.
The market is categorized into six segments based on application: Hepatitis Diagnostics, Tuberculosis Diagnostics, Dengue Diagnostics, Oncology Diagnostics, HIV Diagnostics, Infectious Disease Diagnostics, and Others. Infectious Disease Diagnostics holds the largest share in the market. The global market for diagnostic specialty antibodies is witnessing continuous growth, driven by the rising prevalence of infectious diseases, the rising need for quick and precise diagnostic tests, and advancements in antibody technology.
The market is segmented into two categories according to End-User: Diagnostic Laboratories, Hospitals, Others. Hospitals are the dominant force in the market. With hospitals increasingly embracing cutting-edge diagnostic technologies and personalized medicine strategies, the need for diagnostic specialty antibodies is projected to rise, fueling progress and breakthroughs in healthcare diagnostics.
Diagnostic Specialty Antibodies Market- Geographical Insights
Geographically, this market spans across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. The market is predominantly led by North America, attributed to its well-established healthcare infrastructure. The region boasts one of the highest healthcare expenditure levels globally, with substantial investments from governments, private insurers, and individuals in healthcare services and products. In 2022, U.S. health care spending increased by 4.1 percent, totaling USD4.5 trillion or USD13,493 per capita. Health spending in the U.S. accounted for 17.3 percent of the nation's Gross Domestic Product, as reported by the National Health Expenditure Accounts (NHEA). Following North America, Europe emerges as the second-largest region for market growth during the forecast period, driven by the rising popularity of self-testing kits and the growing number of regulatory approvals for test kits targeting infectious diseases.
In the market for custom antibody development and production services, companies strive to stand out by offering personalized solutions to diagnostic assay developers and researchers. These solutions encompass various aspects such as antibody design, production, purification, conjugation, and validation. Providers distinguish themselves through their technical expertise, stringent quality assurance measures, and exceptional customer support. The market is further fueled by the presence of innovative startups and biotechnology firms that continuously introduce novel antibody technologies and diagnostic assays. These companies may specialize in niche markets, address emerging diagnostic needs, or possess proprietary antibody platforms. Startups often gain a competitive edge by offering disruptive technologies, maintaining rapid innovation cycles, and adopting flexible business models.
On April 17, 2020, Roche announced the development and forthcoming release of its Elecsys Anti-SARS-CoV-2 serology test designed to identify antibodies in individuals who have been exposed to the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) responsible for causing the COVID-19 illness.
The FDA has issued two emergency use authorizations (EUAs) to Abbott this week, permitting diagnostic and antibody tests to be conducted on the company's Alinity systems. Nowadays, the agency granted authorization for Abbott's COVID-19 molecular diagnostic test to be used on its new Alinity m molecular laboratory instrument. Abbott has initiated the rollout of the Alinity m system to customers in the United States.
GLOBAL Diagnostic Specialty Antibodies MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
F. Hoffmann- La Roche AG
Abcam PLC
Abbott Laboratories
Bio-Rad Laboratories Inc.
Agilent Technologies Inc.
Creative Diagnostics
Thermo Fisher Scientific Inc.
Becton, Dickinson and Company
Merck KGaA
Sartorius AG
Others