The global monoclonal antibody diagnostic reagent market size is expected to reach US$ 18,507.20 million by 2028, registering a CAGR of 13.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Enzyme Linked Immunosorbent Segment to Dominate Monoclonal Antibody Diagnostic Reagent Market
The growth of the monoclonal antibody diagnostic reagent market is primarily attributed to the rising prevalence of cancer and other chronic diseases, extensive R&D efforts to develop novel therapies, and the presence of a strong pipeline of drugs under trial. However, low awareness, accessibility, and high cost are hindering the growth of the market.
The COVID-19 pandemic has positively impacted the North America monoclonal antibody diagnostic reagent market growth. Increased need for effective therapeutics to combat the high incidence rate and mortality risk associated with the SARS-CoV-2 infection and various organizations involved in the development of highly effective therapies for COVID-19 treatment have driven the demand for monoclonal antibodies. Moreover, the monoclonal antibody diagnostic reagent played a vital role in the diagnosis of COVID-19 patients. As a result, the demand for monoclonal antibody diagnostic reagents has increased.
Monoclonal Antibody Diagnostic Reagent Market, by Region, 2021 (%)
Monoclonal Antibody Diagnostic Reagent Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Tests (Enzyme Linked Immunosorbent, Double Antigen Sandwich Chemiluminescence Method, Recombinant Immunoblot Assay, and Dot-immunogold Filtration Assay) and Application (Tumor Monitoring, Virus Detection, Hormones Diagnosis, and Others)
Monoclonal Antibody Diagnostic Reagent Market Size & Share
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Source: The Insight Partners Analysis
Based on tests, the monoclonal antibody diagnostic reagent market is segmented into enzyme linked immunosorbent, double antigen sandwich chemiluminescence method, recombinant immunoblot assay, and dot-immunogold filtration assay. The enzyme linked immunosorbent segment held the largest share in the market in 2021, and it is anticipated to register the highest CAGR during the forecast period. The segment growth is attributed to the factors such as the increasing R&D efforts by the companies and research institutes to develop effective diagnostic tests that can help patients in living quality life and the increasing prevalence of chronic diseases and infectious diseases.
As per the American Cancer Society report, the population of cancer survivors in the US is expected to grow from ~16.9 million (since January 2019) to 22.1 million by January 2030 due to the rising aging population. Therefore, the demand for biologics such as monoclonal antibodies (mAbs) is high owing to the rising prevalence of cancer and other chronic diseases. Biologics play a key role in cancer treatment due to the presence of its principal components in many therapeutic regimens and the cost-effectiveness of treatment for patients.
Most licensed mAbs effectively treat noncommunicable diseases, including cancers and autoimmune diseases. Furthermore, successful immunotherapies involving more than 40 licensed mAbs are efficient for revolutionizing cancer treatment and have significantly improved patients' overall and long-term survival compared to traditional approaches such as chemotherapy.
BioGenex; Bio-Rad Laboratories, Inc.; Biocare Medical, LLC; Celltrion Healthcare Co., Ltd.; Creative Diagnostics; GenWay Biotech; Thermo Fisher Scientific Inc.; ABclonal, Inc.; Apto-Gen; and Abcam plc are a few of the key companies operating in the monoclonal antibody diagnostic reagent market.
The report segments the monoclonal antibody diagnostic reagent market as follows:
The monoclonal antibody diagnostic reagent market is segmented into tests, application, and geography. Based on tests, the market is segmented into enzyme linked immunosorbent, double antigen sandwich chemiluminescence method, recombinant immunoblot assay, and dot-immunogold filtration assay. Based on application, the market is segmented into tumor monitoring, virus detection, hormones diagnosis, and others.
By geography, the monoclonal antibody diagnostic reagent market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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