The Global IVD Antibodies Industry market is on a steady growth trajectory, fueled by the increasing demand for accurate and reliable diagnostic tools. According to a recent analysis by Future Market Insights (FMI), the market is projected to register a Compound Annual Growth Rate (CAGR) of around 3.8% from 2022 to 2032. This positive outlook indicates that the market valuation is expected to surpass US$2 billion by the end of the forecast period.
Rising Demand for Early Diagnosis Fuels Market Growth
The rise in the global incidence of chronic and infectious illnesses is driving this astonishing expansion. As the globe grapples with a rising health burden, demand for In-Vitro Diagnostics (IVD) antibodies is skyrocketing. Timely and reliable diagnostic methods have become critical in the pursuit of early illness detection, providing the groundwork for rapid and successful treatment options.
In vitro diagnostics tests, employed in laboratories, healthcare settings, or even directly by consumers at home, play a crucial role in detecting various diseases, infections, and other medical conditions. Companies in the IVD antibodies market are strategically focusing on mergers and acquisitions with regional players to enhance their market presence. For instance, in September 2018, Summa Equity AB successfully acquired Turku-based HyTest Ltd., strengthening its regional foothold in the U.S. and Asia.
The continuously evolving nature of the IVD antibodies market is expected to gain maximum traction. The superior capability of IVD antibodies in detecting complex diseases, such as cancer, along with their utilization in therapeutic monitoring and evaluating blood safety before transfusion, further positions them as the preferred choice for diagnostic tests.
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Global IVD Antibodies Industry: Drivers and Restraints:
The increasing incidence of chronic diseases such as HIV, hepatitis, cancer, cardiovascular diseases, etc. expected to drive the growth of the Global IVD Antibodies Industry. The incidence of cancer and cardiovascular diseases is increasing rapidly and hence aging population of the world is further expected to drive the growth of the IVD antibodies market. The ease of use of IVD antibodies for diagnosis at laboratories, hospitals, or even at home further increases patient compliance and makes IVD antibodies the preferred choice.
The IVD antibodies market is further driven by increasing research and development funding which in turn improves the outcome of diagnostic tests as well as the 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 companies signed an agreement with Janssen Biotech to develop multiple myeloma IVD tests. 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 the diagnosis of different diseases the time-consuming nature of research and development and the tedious product approval process may hamper the growth of the 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 low and middle-income countries. By product type, the Global IVD Antibodies Industry is expected to be dominated by tumor markers due to high adoption for the diagnosis of malignancies. By the application, the IVD antibodies market is dominated by cancer due to a high number of diagnostic procedures. By end users, the IVD antibodies market is dominated by diagnostic laboratories due to high patient footfall for disease diagnosis. The increasing R&D expenditure by leading biopharmaceutical companies for the development and evaluation of IVD antibodies for different diagnoses of various diseases is expected to impact the market significantly.
IVD Antibodies Industry: Regional Outlook
The Global IVD antibody industry is dominated by North America due to higher product penetration. Europe is expected to be the second most lucrative IVD antibody market due to the higher number of diagnostic procedures and favorable reimbursement scenarios. Latin America is expected to experience steady market growth due to increasing IVD antibody adoption for diagnostic procedures. Asia-Pacific is an emerging market in IVD antibodies due to rapidly increasing product penetration, and emerging countries such as India and China where healthcare infrastructure evolving rapidly. Middle East and Africa are expected to be the 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, applications, and industries.
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, UK, 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 assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic 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.
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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, the Global IVD Antibodies Industry is segmented as:
By end user Global IVD Antibodies Industry is segmented as:
- Hospitals
- Diagnostic Laboratories
- Homecare settings
- Others
Report Highlights:
- Detailed overview of the 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 clients face 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 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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