Antibody Testing Market Projected to Reach USD 11,578.47 Million by 2028
Antibody Testing Market Covers all Details Inside Analysis and Outlook According to The Insight Partners.
NEW YORK, UNITED STATES, March 11, 2023 /EINPresswire.com/ -- The Insight Partners Latest Research on "Antibody Testing Market1 Forecast to 2028" Focuses COVID-19 Impact and Global Analysis By Products (Kits, Chemical & reagents, and Consumables), Indication (Pregnancy, Cardiovascular Diseases, Autoimmune Diseases, Infectious Diseases, Oncology, Endocrine Diseases, and Others), End User (Hospitals, Academic and Research Institutes, Diagnostic Laboratories, and Biopharmaceutical Companies)
“Antibody Testing Market is expected to grow from US$ 7,260.00 million in 2021 to US$ 11,578.47 million by 2028. The market is estimated to grow with a CAGR of 6.9% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
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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.
Market leaders operating in the market have undertaken various organic growth strategies in the antibody testing Market. The antibody testing market majorly consists of the players including Thermo Fisher Scientific, Abbott Laboratories, Bio-Rad Laboratories, Inc, Beckton, Dickinson And Company, F. Hoffmann La Roche, Agilent Technologies, Diasorin, Zeus Scientific, Abcam, Trinity Biotech and among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Below is the list of the growth strategies done by the players operating in the antibody testing market:
Apr-2022: Thermo Fisher Scientific celebrated the opening of its new single-use technology manufacturing site in Ogden, Utah. The state-of-the-art facility creates additional capacity to produce the high-quality technology and materials needed for the development of new vaccines and breakthrough therapies
Apr-2022: Trinity Biotech plc, a leading global diagnostic company has announced a $45 million strategic investment and partnership with MiCo Ltd (“MiCo”). MiCo, a KOSDAQ-listed and Korea-based company, is engaged in the biomedical business through its affiliate MiCo BioMed, in addition to providing cutting-edge technology driven solutions in the semi-conductor and green energy sectors
Mar-2022: Thermo Fisher Scientific Inc., the world leader in serving science, announced that it will invest $97 million to expand its clinical research operations in Richmond, Virginia. The facilities, which include laboratory operations acquired with the purchase of PPD, Inc. in December 2021, will support increasing demand across biopharma for consistent, high-quality laboratory services to accelerate drug development
Geographically, the global antibody testing market has been segmented as follows:
By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Greece, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South and Central America (Brazil, Argentina, and Rest of South and Central America)
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Industry Segmentations:
Based on products, the market is segmented into kits, chemical & reagents, and consumables. In 2021, the kits segment accounted for the highest share of the market. The growth of this segment is attributed to a large number of manufacturers like Abbott, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., and others and the higher adoption of kits in various research processes. The same segment is likely to register the highest CAGR in the during the forecast period. The kits segment is further sub-segmented into serological test kits, immunoglobulin kits, and lateral flow assay kits.
The global antibody testing market, based on indication is segmented into pregnancy, cardiovascular diseases, autoimmune diseases, infectious diseases, oncology, endocrine diseases, and others. The infectious diseases segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 8.2% in the market during the forecast period. The infectious diseases segment is further sub-segmented into COVID-19, hepatitis, HIV, tuberculosis, influenza, human papillomavirus (HPV), and others. Endocrine diseases are further segmented into diabetes, thyroid disorders, and others. Oncology is further segmented into breast cancer, melanoma, gastric cancer, and others. Autoimmune diseases are further segmented into rheumatoid arthritis, inflammatory bowel disease, multiple sclerosis, and others.
Global antibody testing market, based on end user is segmented into hospitals, academic & research institutes, diagnostic laboratories, biopharmaceutical companies. The diagnostic laboratories segment held the largest share of the market in 2021, and same segment is anticipated to register the highest CAGR of 7.7% in the market during the forecast period.
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