Press release
Diagnostic Specialty Antibodies Market to Witness a Robust CAGR of 5.3% During 2019 - 2027
Transparency Market Research has published a new report titled, "Global Diagnostic specialty antibody Market". According to the report, the global diagnostic specialty antibody market was valued at US$ 22.6 Bn in 2018 and is projected to expand at a CAGR of 5.3% from 2019 to 2027.
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The global diagnostic specialty antibody market is driven by increase in demand for accurate and prompt diagnosis of various diseases across the globe. Moreover, advancements in antibody development technology have revolutionized the diagnostic science through which antibodies can be produced against any pathogenic antigen and transformed the diagnostic industry.
Monoclonal antibodies segment to Account for Leading Share of Global Diagnostic Specialty Antibody Market
In terms of antibody type, the monoclonal antibodies segment accounted for major share of the global diagnostic specialty antibody market in 2018. 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.
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Developments in genetic engineering have enabled reconstruction of antibodies such as monoclonal antibodies and recombinant polyclonal antibodies and their application in the health care industry for disease diagnostics. This has propelled the diagnostic specialty antibody market. Moreover, availability of different monoclonal antibody production technology ease the development of different custom antibodies, which able to address the unmeet application of antibodies in disease diagnosis. The MorphoSys's HuCAL (Human Combinatorial Antibody Library) technology is a unique and innovative concept for the in vitro generation of highly specific and fully human antibodies, which enable the generation of therapeutic and diagnostic antibodies with high binding affinity.
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Hospital Segment to Account for Significant Diagnostic Specialty Antibody Market Share
Hospitals are a major end-user of diagnostic specialty antibody products, although specialty antibody application are specifically used in research and diagnostic procedures. The hospitals segment is expected to expand at a moderate CAGR during the forecast period due to the research and development of unique autoantibodies in university and private hospitals.
The hospitals segment includes government hospitals and private hospitals, which are responsible for educating health care professionals and increasing their awareness about primary antibody deficiency. Hospitals train clinical staff for the possible diagnosis of primary antibody deficiency in patients. They provide an opportunity to patients to access better treatment for primary immunodeficiency disorders, which like to drive the diagnostic specialty antibody market.
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Global Diagnostic specialty antibody Market: Prominent Regions
North America held the largest share of the global diagnostic specialty antibody market in 2018. The diagnostic specialty antibody market in the region is projected to grow at a rapid pace during the forecast period, driven by presence of key players, technological advancements, and highly structured health care industry.
North America is projected to continue its dominance in the global diagnostic specialty antibody market, by 2027, which is attributed to 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 diagnostic specialty antibody market share in 2018 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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Global Diagnostic specialty antibody Market: Key Players
Key players in the global diagnostic specialty antibody market focus on strengthening their positions in the global diagnostic specialty antibody market
Hoffmann-La Roche AG, Sanofi, and Abbott Laboratories are the major players operating in the diagnostic specialty antibody 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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