The global in vitro diagnostics (IVD) antibodies market is poised for steady growth, projected to exhibit a compound annual growth rate (CAGR) of approximately 3.8% during the forecast period from 2022 to 2032. By the end of this period, the market is expected to reach a valuation of nearly USD 1.38 billion. This growth is primarily fueled by the rising prevalence of chronic and infectious diseases worldwide and an increasing emphasis on early diagnosis to facilitate timely and effective treatment.
Key Market Drivers:
- Increasing Disease Incidence: The global surge in chronic and infectious diseases is a major catalyst for the demand for IVD antibodies. Conditions such as diabetes, cardiovascular diseases, and various infections necessitate accurate diagnostic tools to monitor and manage patient health effectively.
- Need for Early Diagnosis: There is a growing recognition of the importance of early diagnosis in the management of chronic diseases. Healthcare providers are increasingly focusing on identifying diseases at an earlier stage to improve patient outcomes and reduce healthcare costs. This shift towards preventive care is propelling the demand for IVD antibodies.
- Technological Advancements: Innovations in diagnostic technologies are enhancing the sensitivity and specificity of IVD tests. Advances in antibody development and testing methodologies are making it easier for healthcare professionals to obtain accurate results, further driving market growth.
- Rising Healthcare Expenditure: Increased investments in healthcare infrastructure and rising healthcare expenditures in both developed and developing regions are contributing to the growth of the IVD antibodies market. Governments and private sectors are focusing on enhancing diagnostic capabilities to improve public health outcomes.
- Growing Awareness of Health Issues: The increasing public awareness of health and wellness is prompting individuals to seek regular health check-ups and screenings. This trend is encouraging the adoption of IVD tests, thereby boosting the market for IVD antibodies.
Global IVD Antibodies Industry: Drivers and Restraints:
Increasing incidence of chronic diseases such as HIV, hepatitis, cancer, cardiovascular diseases, etc. expected to drive the growth of Global IVD Antibodies Industry. Incidence of cancer and cardiovascular diseases is increasing rapidly and hence aging population of world further expected to drive the growth of IVD antibodies market. The ease of use of IVD antibodies for the diagnosis at laboratories, hospitals or even at home further increases patient compliance and makes IVD antibodies preferred choice.
The IVD antibodies market is further driven by increasing research and development funding which in turn improving the outcome of diagnostic tests as well as manufacturing of high end quality IVD antibodies for assays. Manufacturers in the Global IVD Antibodies Industry are focusing on mergers, acquisitions, collaborations and agreements such as Sebia Inc. one of the major IVD manufacturing company signed an agreement with Janssen Biotech to develop multiple myeloma IVD test. Whereas, low product penetration and higher cost of the IVD antibodies may hamper the potential growth of the market. Although manufacturers are focusing on developing novel IVD antibodies for diagnosis of different diseases but time consuming nature of research and development and tedious product approval process may hamper the growth of market.
Global IVD Antibodies Industry: Overview
The Global IVD Antibodies Industry is majorly driven by the increasing chronic disease incidence as well as increasing product penetration in the low and middle income countries. By product type, Global IVD Antibodies Industry is expected to be dominated by the tumor markers due to high adoption for the diagnosis of malignancies. By the application, the IVD antibodies market is dominated by the cancer due to high number of diagnostic procedures. By end user, IVD antibodies market is dominated by the diagnostic laboratories due to high patient footfall for the disease diagnosis. The increasing R & D expenditure by leading biopharmaceutical companies for the development and evaluation of IVD antibodies for different diagnosis of various diseases expected to impact the market significantly.
Global IVD Antibodies Industry: Regional Outlook
The Global IVD Antibodies Industry is dominated by North America due to higher product penetration. Europe is expected to be the second most lucrative IVD antibodies market due to higher number of diagnostic procedure and favorable reimbursement scenario. Latin America is expected to experience steady market growth due to increasing IVD antibodies adoption for the diagnostic procedures. Asia-Pacific is emerging market in IVD antibodies due to rapidly increasing product penetration, and emerging countries such India and China where healthcare infrastructure evolving rapidly. Middle East and Africa is expected to be least revenue generating IVD antibodies market due to low product penetration as well as limited availability of good healthcare infrastructure in most of the MEA region.
Global IVD Antibodies Industry: Key Players
The key market participants operating in the Global IVD Antibodies Industry are: Abcam plc., Thermo Fisher Scientific, Rockland Immunochemicals Inc., GenScript, Bio-Rad Laboratories, Inc., SDIX, LLC., Advy Chemical Pvt. Ltd., MEDICAL & BIOLOGICAL LABORATORIES CO., LTD., HyTest Ltd., Abbott and Others
The research report presents a comprehensive assessment of the Global IVD Antibodies Industry and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information for IVD Antibodies market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- IVD Antibodies Market Segments
- IVD Antibodies Market Dynamics
- IVD Antibodies Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Indication
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, South Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global IVD Antibodies Industry: Segmentation
The Global IVD Antibodies Industry is segmented based on the product type, application, end user and region
By product type Global IVD Antibodies Industry is segmented as:
- Cardiac Markers
- Tumor Markers
- Kidney Injury Markers
- Infection and Inflammation Antibodies
By application, Global IVD Antibodies Industry is segmented as:
- Immunology
- Cancer
- Cardiovascular Diseases
By end user Global IVD Antibodies Industry is segmented as:
- Hospitals
- Diagnostic Laboratories
- Homecare settings
- Others
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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