Antibody Testing Market is expected to exhibit a CAGR of around 7.7% over the forecast period (2021-2031)

NEW YORK, Dec. 3, 2021 /PRNewswire/ -- As per Persistence Market Research's revised industry analysis, the global antibody testing market was valued at over US$ 6.9 Bn in 2020, and is expected to exhibit a CAGR of around 7.7% over the forecast period (2021-2031).

Burden of chronic diseases is expected to continue growing over the coming years, which will be a major reason for the expansion of market size. With diagnosis being the first step to any kind of treatment, test kits will be imperative to diagnose any condition to start related treatment.

As per the International Diabetes Federation, there were approximately 463 million adults aged 20 to 79 years in 2019 living with diabetes globally, with a majority of them suffering from type 2 diabetes. This number is expected to rise to 700 million by 2045. This increasing number will create huge demand for testing kits. Furthermore, constant investments by big market players to launch novel diagnostic kits to cater to unmet demand is also a positive factor aiding antibody testing industry growth.

Advancements in technology have caused disruptions everywhere, and the field of diagnostics has not remained untouched by this. Growing demand for tests without compromising on the quality and accuracy of the results has resulted in the automation of many processes. Rapid antibody testing kits are very much part of this growing automation to provide swift, yet accurate results. Not only technology advancements in lab automation, but also in immunoassays, will create opportunities for providers of antibody testing products.

Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/31930

Key Takeaways from Market Study

• By product type, serological test kits are expected to hold over 42% market value share by the end of 2031, primarily because of the presence of key market players for production worldwide.
• Based on indication, infectious diseases are leading with over 21% market share, owing to extensive research opportunities in infection diagnosis and drug discovery.
• Diagnostic laboratories will dominate the end-user segment with a share of around 40%, due to increasing number of molecular biology companies focusing on infection diagnostics after the onset of COVID-19.
• By region, North America is slated to be the largest market with a value share of 35% at the end of the forecast period.

"Advancements in technology and application of antibody testing in drug discovery are anticipated to propel demand for antibody testing as a measure for disease detection and prevention," says an analyst of Persistence Market Research.

Get full report TOC for more info: https://www.persistencemarketresearch.com/market-research/antibody-testing-market/toc

Market Competition

Acquisitions, mergers, expansions, and product launches are the key strategies being adopted by manufacturers to expand their consumer base across geographies.

• December, 2018: ThermoFisher Scientific received FDA clearance for its de novo submission of the Thermo Scientific QMS Plazomicin Immunoassay, the first of its kind for complementary diagnostic immunoassays.
• March, 2019: BD launched a new automated flow cytometry system named BD FACSDuet™. The system improves efficiency by decreasing chances of errors and reducing human intervention.

Get full access of report: https://www.persistencemarketresearch.com/checkout/31930

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the antibody testing market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.

The research study is based on product (serological test kits, immunoglobulin kits, lateral flow assay kits, chemicals and reagents, and consumables), indication (pregnancy, cardiovascular diseases, autoimmune diseases, infectious diseases, oncology, endocrine diseases, diabetes, and others), and end user (hospitals, academic and research institutes, diagnostic laboratories, biopharmaceutical companies, and homecare settings), across seven key regions of the world.

Related Reports:

• Herpes Markers Testing Market
• Typhoid Antibody Testing Market
• Genetic Testing Market
• Glycated Haemoglobin Testing Market

About Persistence Market Research:

Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.

Overview:

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies'/clients' shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

Contact

Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Visit Our Website: https://www.persistencemarketresearch.com

Logo: https://mma.prnewswire.com/media/661339/Persistence_Market_Research.jpg