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Antibody Testing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Products, Indication, End User
The global antibody testing market was valued at US$ million 7,260. 00 in 2021 and is projected to reach US$ 11,578. 47 million by 2028; it is expected to grow at a CAGR of 6. 9% from 2021 to 2028.
New York, June 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antibody Testing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Products, Indication, End User" - https://www.reportlinker.com/p06279415/?utm_source=GNW
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 antibody testing 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.Antibody tests help diagnose an autoimmune disease or rule out other conditions with similar signs and symptoms.
In addition, antinuclear antibodies (ANA) are a group of autoantibodies produced by an individual’s immune system when it cannot adequately distinguish between "self" and "foreign" components. The global antibody testing market is driven by a rising number of COVID-19 cases worldwide, an increasing prevalence of chronic diseases, and a growing senior population. Additionally, growing government support is fueling the growth of antibody testing, which influences the development of the global antibody testing market.
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.
Antibody detection kits are predictive for prognosis and detection of COVID-19 infections to assist the diseases.Since these kits help examine whether a person has developed antibodies in their bloodstream to fight the SARS-CoV-2, it indicates whether a person has been exposed to or has COVID-19.
In order to manage the COVID-19 pandemic and increase patient screening, several companies are offering these rapid antibody detection kits to healthcare workers, hospitals, laboratories, and other professionals. Thus, rising incidence of coronavirus cases and growing government approvals for antibody test kits are the few factors responsible for the growth of the global antibody testing market.
COVID-19 pandemic has become the most significant challenge across the world.This challenge was 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 would have significant growth prospects as many market players have received emergency use authorization for their newly developed antibody tests. All such developments would add up to the future demand for global antibody testing market.
Based on products, the global antibody testing market is segmented into kits, Chemical & Reagents, and consumables.In 2021, 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. Furthermore, the kits segment is sub-segmented into serological test kits, immunoglobulin kits, and lateral flow assay kits. The serological test kits held the highest market share in 2021
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 same segment is anticipated to register the highest CAGR in the market during the forecast period.
Growing prevalence of viral infections such as HIV and hepatitis led to the demand for the market is anticipated to grow at a substantial rate during the forecast period.The prevalence of HIV in the country has increased during recent years.
As per the data provided by the US Department of Health & Human Services and supported and the Secretary’s Minority AIDS Initiative Fund (SMAIF), almost 38,700 Americans were newly infected with HIV during 2016. However, as per data obtained by the Public Health England, during 2017, around 101,600 individuals were living within the UK and the country had approximately 4,363 new cases as well as 428 AIDS-related deaths.
Global antibody testing market, based on end user, is segmented into hospitals, Academic & Research Institutes, diagnostic laboratories, and 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.
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.
Read the full report: https://www.reportlinker.com/p06279415/?utm_source=GNW
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