Diagnostic Specialty Antibodies Market Value to Reach US$ 35,000 Mn by 2026
Added: (Tue Jan 29 2019)
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Antibody is a blood protein produced in response to a specific antigen. An antibody is also known as immunoglobulin and is generally Y-shaped in structure. Advances in genetic engineering have made antibodies, especially monoclonal antibodies, more robust and efficacious as these increase the binding capacity to any type of specific antigen and are quite effective as a diagnostics tool to evaluate various infectious diseases. However, demand for diagnostic specialty antibodies is anticipated to decline during the forecast period owing to failure of antibodies in rapid diagnostic test for routine diagnosis and high cost of monoclonal antibodies.
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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% from 2018 to 2026 to reach US$ 35,000 Mn by 2026. Surge in government investment in diagnostic health care and increase in launch of new, innovative biologic diagnostic kits are likely to fuel the growth of the global diagnostic specialty antibodies market from 2018 to 2026.
High unmet needs in the global diagnostic specialty antibodies market present lucrative opportunities for existing players and new entrants. For instance, Abcam plc plans to strengthen its position in Asia, specifically in China, to increase market share in unpenetrated segments and offer custom products and licensing. Additionally, in November 2016, Roche launched the global cancer immunotherapy Centers of Research Excellence (imCORE) network which brings together world’s leading scientific and clinical experts in cancer immunotherapy to collaborate in investigating promising new treatment approaches. The company announced investment up to CHF 100 Mn (US$ 98 Mn) to support basic and clinical research collaborations related to cancer immunotherapy.
In terms of antibody type, the global diagnostic specialty antibodies market has been segmented into monoclonal antibodies, polyclonal antibodies, and recombinant polyclonal antibodies. The monoclonal antibodies segment is projected to account for the largest market share by 2026. However, the polyclonal antibodies segment is anticipated to expand at the highest CAGR during the forecast period. Based on application, the market has been classified into hepatitis diagnosis, tuberculosis diagnostics, dengue diagnostics, oncology diagnostics, HIV diagnostics, infectious disease diagnostics, and others. The oncology diagnostics segment is expected to expand at a high CAGR from 2018 to 2026. The infectious disease diagnostics segment held major market share in 2017. The tuberculosis diagnostics segment is likely to grow at a sluggish pace during the forecast period. In terms of end-user, the global diagnostic specialty antibodies market has been categorized into hospitals, diagnostic laboratories, and others.
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 adoption of various antibody kits in hospitals and private clinics. Europe held a significant market share in 2017, owing to the availability of technologically advanced research and development platforms for the diagnosis of disorders, increase in incidence of infectious diseases, large patient pool for HIV diagnosis, and launch of innovative and advanced kits by major manufacturers.
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Leading players operating in the global diagnostic specialty antibodies market are F. Hoffmann-La Roche Ltd, Sanofi, and Abbott Laboratories. These players offer products with proprietary technologies. Others 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 developmental 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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