Antibody Testing Market Is Expected To Progress At A CAGR of 7.5% To Reach US$ 18.89 Billion by 2034: Fact.MR Report
Rising Cases of Infectious Diseases Propelling Demand for Antibody Testing for Accurate and Reliable Diagnosis
Rockville, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Sales of antibody testing products are pegged at US$ 9.17 billion in 2024, according to a new study published by Fact.MR, a market research and competitive intelligence provider. The global antibody testing market is forecasted to expand at a 7.5% CAGR from 2024 to 2034.In recent years, several indications, including oncology, cardiovascular, diabetes, pregnancy, and others need antibody testing solutions. Easy availability of these diagnostic kits is predicted to contribute to their increased popularity across regions. Adoption of antibody testing enables healthcare professionals to provide tailored treatment to patients based on their immune response to specific pathogens.
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Growth of the market is also attributed to the advancements in disease biomarkers. Technological advancements in genomics, metabolomics, and proteomics assist researchers in providing effective healthcare solutions. Development of certain condition-specific biomarkers with affordability, applicability, accuracy, and overall health outcomes are predicted to attract trends in the market. Rising awareness about the benefits of health insurance programs is also forecasted to contribute to the increased demand for antibody testing kits, thus generating opportunities for market players.
*Report Attribute* *Details*
Value Projection (2034) US$ 18.89 Billion
Growth Rate (2024-2034) 7.5% CAGR
No. of pages 170 Pages
No. of Tables 84 Tables
No. of Figures 112 Figures
*Key Takeaway from Market Study *
· The global antibody testing market is estimated at US$ 9.17 billion in 2024.
· Worldwide sales of antibody testing kits are projected to reach US$ 18.89 billion by the end of 2034.
· The global market is forecasted to expand at 7.5% CAGR from 2024 to 2034.
· Sales of antibody testing products in the United States are projected to rose at 8.4% CAGR and reach US$ 6.36 billion by the end of 2034.
· North America is estimated to hold 37.1% share of the global market by the end of 2034.*“Rising cases of chronic diseases, including infectious diseases, autoimmune diseases, and cancer, is predicted to stimulate demand for immunoassays, including antibody tests, for their diagnosis and monitoring,” *says a Fact.MR analyst.
*Key Market Players *
· Thermos Fisher Scientific,
· Abbott Laboratories,
· Bio-Rad Laboratories, Inc.,
· F. Hoffmann La Roche,
· Beckton,
· Agilent Technologies,
· Dickinson and Company,
· DiaSorin,
· Trinity Biotech,
· Abcam,
· Zeus Scientific are leading antibody testing solution providers.*Rising Investments by Market Players in R&D Activities for Product Development in the United States*
The market in the United States is projected to hold a 90.8% share of North American market revenue by 2034. Players from the United States are spending a significant amount on R&D activities for technological advancements in antibody test products. In addition, the dominance of the United States is attributed to the increasing adoption of antibody testing in several indications, including infectious diseases, oncology, pregnancy, cardiovascular diseases, endocrine diseases, and others.
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Fact.MR, in its new offering, presents an unbiased analysis of the antibody testing market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (serological test kits [serological assay test kits, and serological rapid assay kits], immunoglobulin kits [immunoglobulin assay test kits, immunoglobulin rapid assay kits], lateral flow assay kits [lateral flow assay test kits, lateral flow rapid assay kits], chemicals & reagents, consumables), indication (pregnancy, cardiovascular diseases, autoimmune diseases, infectious diseases, oncology, endocrine diseases, diabetes), and end user (hospitals, academic & research institutes, diagnostic laboratories, biopharmaceutical companies, homecare settings), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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