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Antibody Testing Market Growing at a CAGR of 12.4% During Forecast Period 2020-2025


Antibody Testing Mar

iCrowdNewswire   Jul 21, 2020  4:00 PM ET

Antibody Testing Market size is $1.17 billion in 2019, growing at a CAGR of 12.4% during the forecast period 2020-2025. The increased incidence of autoimmune disorders, and rise in the adoption of antibody testing is driving the market during the forecast period 2020-2025. Antibody testing helps to diagnose an autoimmune disorder or rule out other conditions with similar signs and symptoms. Furthermore, the antinuclear antibodies (ANA) are a group of autoantibodies produced by an individual’s immune system when it fails to adequately distinguish between “self” and “non-self” components. The ANA test detects the antibodies in the blood. ANA reacts with components of the body’s healthy cells and causes symptoms such as tissue and organ inflammation, joint and muscle pain and fatigue. ANA specifically targets substances found in the nucleus of the cell, hence the also named “antinuclear antibodies”.

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By Technique- Segment Analysis 

By Technique, ELISA held the largest share in 2019 owing to its high sensitivity, specificity and also compatibility with other methods for detecting substances in the body such as radioimmune assay (RIA) test. Also, it possesses several advantages such as not needing radioisotopes (radioactive substances) or a costly radiation counter (a radiation-counting apparatus) thereby propelling the Antibody Testing Market during the forecast period 2020-2025. Ease of use and high efficiency of ELISA is a major factor driving this segment. Furthermore, an enzyme-linked immunosorbent assay (ELISA) is a test that detects and measures antibodies the blood. It can also be used to determine any antibodies related to any infectious condition as they are proteins that the body produces in response to harmful substances called antigens.

By End-User- Segment Analysis

In 2019, Hospitals and Clinical Laboratories dominated the Antibody Testing Market owing to ease of facilities for testing. Also, a sudden outbreak leading to Covid-19 further contributed to driving the Antibody Testing Market during the forecast period 2020-2025. Rise in incidence of infectious and communicable diseases has increased the number of tests being performed at hospitals and clinics. Thus rise in tests conducted annually has contributed to the market growth as well. However, research laboratories are forecast to have the fastest growth at a CAGR 9% during the forecast period 2020-2025. This is owing to the rising number of diseases that can be tested using antibody tests. Thus, research laboratories are constantly developing various test type and research various technologies. Such innovation in research laboratories are set to grow this market in the coming years. In March 2020, owing to the dire shortage of tests for detecting coronavirus the Food and Drugs Administration authorized laboratories to develop their own diagnostics that were distributed by Laboratory Corporation of America Holdings and Hologic, Inc. Such support from government authorities is further set to drive the market growth.

Geography- Segment Analysis

By region, North America accounts for 33% of the Antibody Testing Market share in 2019. Increasing health concerns along with the growing demand for advanced tests and a better healthcare structure is a major factor boosting its market growth. In April 2020, BD medical company and BioMedomics a North California based clinical based company launched a rapid antibody test for the coronavirus, which can be used to detect if a person’s immune system has Covid-19 or has recovered from it.

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Drivers –Antibody Testing Market

The increase of autoimmune disease is a major factor driving the antibody testing markets during the forecast period 2020-2025. An autoimmune disease is a condition in which the immune system attacks the body. Also, an increase in the prevalence of autoimmune disorders such as rheumatoid arthritis, Systemic lupus Erythematosus, Scleroderma and others is driving the Antibody Testing Market during the forecast period 2020-2025.

A rise in Government Healthcare Protection is a major factor contributing to the Antibody Testing Market during the forecast period 2020-2025. Furthermore, a sudden outbreak leading Covid-19 has led the government to take initiative measures for antibody testing. In March 2020, Indian Company MyLab and German firm Altona Diagnostics supplied Covid-19 test kits to both governments as well as private testing Laboratories in India. Also, the advantage of antibody testing is that the result can be made available within 30 minutes thereby propelling the Antibody Testing Market.

Challenges – Antibody Testing Market

Lack of skilled professionals is a major factor restraining the Antibody Testing Market during the forecast period 2020-2025. Constant growth in patient numbers and an increase in the number of tests being performed with upgraded technology has made it difficult to find skilled professionals who can handle these tests. The rising number of tests performed is not able to be met since there is a lack of personnel in the testing departments. In May 2019, according to the Bureau of Labor Statistics, the demand of lab workers has grown 13% in the last year in the U.S. So, lack of skilled professional disrupts the smooth functioning of antibody testing and serves as a setback for its growth in the market during the forecast period 2020-2025.

Developments:

Key Takeaways

Antibody Testing Market Industry Outlook

Product launches, collaborations, partnerships, and R&D activities are key strategies adopted by players in the antibody testing market. Antibody Testing Market top 10 companies are Abbott, Voxtur Bio, Invitrogen, Abcam, Biolegend, Research and Diagnostic System Inc., Novus Biologicals, Protein Technologies, Enzo Life Sciences Inc., and Abnova.

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https://www.industryarc.com/Report/16715/immunohistochemistry-market.html

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