The Antibody Testing market was valued at US$ million 6,415.90 in 2019 and is projected to reach US$ 10,740.69 million by 2027; it is expected to grow at a CAGR of 6.7% from 2020 to 2027. The growth of the Antibody Testing market is mainly attributed to factors such as rising number of covid-19 cases worldwide, increasing prevalence of chronic diseases and growing geriatric population. However, the market is likely to get impacted by the limitations of antibody screening tests during the forecast period.
Antibodies are immunoglobulins, Y-shaped proteins that are produced by the immune system to help stop intruders from harming the body.An antibody test is a screening for the presence of antibodies in the blood.
The body makes antibodies when it fights infection, like COVID-19 or when patients get a vaccine, like a flu shot.That’s how immunity to a virus is built.
These tests are also called serology tests. Ever since severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) was declared a public health emergency of international concern in late January 2020, medical professionals and researchers have been urging the need for comprehensive and rapid testing of citizens to plan measures that can contain the spread of the virus.Over time, real-time polymerase chain reaction tests and antibody tests have emerged as vital techniques for the global healthcare system to manage the outbreak.
Antibody detection is essential for differential diagnosis of SARS-CoV-2.It is a test performed by patient serum or plasma with reagent red cells.
Determination of specific antibodies to viral and bacterial pathogens and parasites facilitates the correct therapeutic measures to be taken.Antibody testing is critical for implementing an effective and efficient public health strategy to minimize the adverse impact of the COVID-19 pandemic.
It should be adopted for important clinical utility cases and support return-to-work strategy globally. COVID-19 pandemic has become the most significant challenge across the world.This challenge will be frightening especially in developing countries across the globe as it will lead to reducing imports due to disruptions in global trade.
Till date no definitive treatment against COVID 19 has been established.Hence, lack of definitive therapy offers significant opportunities for antibody testing market as US FDA has recently approved use of plasma therapy for critically ill COVID 19 patients.
In long run Antibody Testing market will have significant growth prospects as many market players has received emergency use authorization for their newly developed antibody tests. All such developments will add up to the future demand for antibody testing market. Based on Antibody Testing products, the market is segmented into Kits, Chemical and Reagents, Consumables.In 2019, the kits segment accounted for the highest share of the market.
Growth of this segment is attributed to the large number of manufacturers like Abbott, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., and others and higher adoption of kits in various research processes. The same segment is likely to register highest CAGR in the global Antibody Testing market during the forecast period. Global Antibody Testing Market, based on indication, the Antibody Testing market is segmented into Pregnancy, Cardiovascular Diseases, Autoimmune Diseases, Infectious Diseases, Oncology, Endocrine Diseases, Others. The Infectious Diseases segment held the largest share of the market in 2019, and same segment is anticipated to register the highest CAGR of 8.0% in the market during the forecast period. Global Antibody Testing Market, based on end user, the Antibody Testing market is segmented into Hospitals, Academic and Research Institutes, Diagnostic Laboratories, Biopharmaceutical Companies. The Diagnostic Laboratories segment held the largest share of the market in 2019, and same segment is anticipated to register the highest CAGR of 7.4 % in the market during the forecast period. The World Health Organization (WHO), Food and Drug Administration (FDA), Centers For Disease Control And Prevention, American Heart Association, Biomedical Advanced Research and Development Authority, Foundation For Innovative New Diagnostics are some of the major primary and secondary sources referred for preparing this report.
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