Diagnostic Specialty Antibodies Market is Projected to Expand at a CAGR of 5% from 2018 to 2026

Transparency Market Research (TMR) has published a new report titled, "Diagnostic Specialty Antibodies Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026". According to the report, the global diagnostic specialty antibodies market was valued at US$ 20,000 Mn in 2017 and is projected to expand at a CAGR of 5.0% from 2018 to 2026. Surge in government investment in diagnostic health care and increase in launch of new, innovative biologic diagnostic kits are anticipated to boost the growth of the global diagnostic specialty antibodies market during the forecast period.

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North America and Europe are expected to dominate the global market in the next few years, owing to increase in number of players in the market through collaboration & acquisition and rise in awareness about usage of monoclonal antibodies as diagnostic options. For instance, Agilent Technology acquired Multiplicom NV in January 2017 to broaden its molecular diagnostics portfolio. Additionally, in January 2017, Boehringer Ingelheim (BI) and Sanofi completed an agreement through which BI procured Sanofi's animal-health business (Merial) and Sanofi took over BI's consumer health care business.

This acquisition makes Boehringer Ingelheim the second-largest animal health company in the world. The U.S. is a major market for Boehringer Ingelheim's animal health products, accounting for nearly 40% of annual sales. In February 2017, Bio-Rad Laboratories, Inc. acquired RainDance Technologies, Inc. for US$ 72.7 Mn. This acquisition added RainDance's droplet-based solutions to Bio-Rad's next-generation sequencing applications and strengthened its position in the area of Droplet Digital PCR.

diagnostic specialty antibodies market
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Monoclonal Antibodies Segment to Capture Largest Market Share

The report offers detailed segmentation of the global diagnostic specialty antibodies market. Based on antibody type, the monoclonal antibodies segment is projected to account for the largest market share by 2026. Increase in importance of monoclonal antibodies in scientific research for generation and validation of mAbs is expected to boost the segment in the near future. However, the polyclonal antibodies segment is anticipated to expand at the highest CAGR during the forecast period.

Oncology Diagnostics Segment to Grow at Rapid Pace

The oncology diagnostics segment is expected to expand at a high CAGR from 2018 to 2026. HIV diagnostics is expected to be another prominent segment, and is likely to register significant market attractiveness index by 2026. Rise in number of HIV related programs to spread awareness among people is likely to boost the segment during the forecast period.

Hospitals Segment to Account for Dominant Share

The hospitals segment held the largest market share in 2017. The diagnostic laboratories segment is projected to expand at the highest CAGR from 2018 to 2026. Increase in number of infectious diseases and rise in prevalence of cancer and HIV infections among the population of the U.S. are likely to boost the growth of the segment during the forecast period.

North America to Capture Largest Share

In terms of revenue, North America dominated the global diagnostic specialty antibodies market in 2017, owing to increase in demand for specialty antibody diagnostics for HIV, hepatitis delta virus (HDV) infections, and other infectious disease diagnosis and rise in the adoption of various antibody kits in hospitals and private clinics. Europe held a significant market share in 2017 due to the availability of technologically advanced research and development platforms for the diagnosis of disorders, increase in the incidence of infectious diseases, large patient pool for HIV diagnosis, and the launch of innovative and advanced kits by major manufacturers.

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Fragmented Market Dominated by Roche, Sanofi, and Abbott Laboratories

The report provides profiles of leading players operating in the global diagnostic specialty antibodies market. F. Hoffmann-La Roche AG, Sanofi, and Abbott Laboratories are the major players operating in the market, offering products with proprietary technologies. Other players include Abcam plc, Bio-Rad Laboratories, Inc., Boehringer Ingelheim International GmbH, Agilent Technologies, Inc., and Aytu BioScience, Inc. Aytu Bioscience, Inc. invests in research and development activities to develop new and innovative products. It recently acquired and anticipates to commercialize FDA-approved ProstaScint (capromab pendetide), a radiolabeled monoclonal antibody. In January 2016, the company acquired a high-performance analytical flow cytometer platform from Propel Labs. This enables advanced and novice users to perform basic and multi-parameter cytometry for a wide range of applications and chemistries.

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