Market Trends of Diagnostic Specialty Antibodies Industry
This section covers the major market trends shaping the Diagnostic Specialty Antibodies Market according to our research experts:
Monoclonal Antibodies are Expected to have Significant Growth Over the Forecast Period
Monoclonal antibodies play a vital role in the diagnosis of many infectious and chronic diseases such as cancer. The increase in the number of research activities on monoclonal antibodies and their applications in various disease diagnoses along with a growing number of cancer cases and increasing awareness regarding early diagnosis is expected to boost segment growth.
For instance, according to an article published by the Biomedical Journal of Scientific & Technical Research in September 2020, monoclonal antibodies have prominent applications in diagnosis, so they are incorporated into diagnostic techniques (western immunoblotting, ELISA, immunofluorescence test, and immunohistochemistry) for the diagnosis of various diseases. Monoclonal antibodies in diagnostic tests are important for detecting an antigen or antibody against microbes. Monoclonal antibodies also play a significant role in the development of specific serologic reagents for antigens in limited amounts. They provide both highly specific and reproducible immunological assays for rapid and accurate diagnosis of different types of infectious diseases.
Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in October 2022, Roche announced the launch of Anti-PRAME (EPR 20330) Rabbit Monoclonal Primary Antibody to identify PRAME protein expression in tissue samples from patients with suspected melanoma. The PRAME (EPR20330) antibody is used as an aid to differentiate between benign and malignant lesions to help improve diagnostic decisions.
Therefore, the monoclonal antibodies segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Projected to Have Significant Market Growth Over the Forecast Period
North America is projected to have a significant market share among the regions owing to the adaptation of various antibody diagnostics coupled with well-established healthcare infrastructure in the region. In addition, new product launches, high R&D investments, and the growing number of cancer cases are some of the factors that are fuelling the market growth in this region. Moreover, favorable government policies and increased funding from the government in cancer research are expected to bolster market growth.
The high prevalence of cancer in the United States is one of the major factors for the growth of the market. For instance, according to the data by the American Cancer Society 2021, there will be an estimated 1.9 million new cancer cases diagnosed and 608,570 cancer deaths in the United States during 2021. Furthermore, according to the same source, an estimated 54,010 new cases of cancer of the oral cavity and pharynx (throat) will be diagnosed in the US and 10,850 people will die from the disease. Incidence rates were found to be more than twice as high in men as in women. Hence, the high prevalence of cancer in the country will lead to the usage of more diagnostic specialty antibodies for the oncology field, thus is is expected to boost the studied market.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.
