Rapid diagnosis is crucial, and any delay can not only worsen a patient’s condition but can also result in unregulated spread of infection, as seen with the COVID-19 pandemic.
The antibody testing market includes an extensive portfolio of products catering to many indications, such as cardiovascular disorders, autoimmune diseases, and bacterial and viral infectious diseases. Manufacturers not only offer test kits for various indications, but also provide choices for various types of antibody test kits, such as serological test kits, immunoglobulin assay kits, and lateral flow assay kits.
As per Persistence Market Research, the global antibody testing market will experience a healthy CAGR of 8% during the forecast period of 2020-2030.
Key Takeaways from Antibody Testing Market Study
- The serological test kit product segment is expected to be the most lucrative segment in the global antibody testing market by the end of 2030.
- By indication, the infectious diseases segment is expected to grow 2.6 times from the year 2020 to 2030.
- In terms of end user, the diagnostic laboratories segment is expected to hold 2/5 market share of the entire global market value in the antibody testing market.
- Due to the COVID-19 outbreak, the infection segment increased from 7% in year-on-year growth in 2018 to 2019 to nearly 12% in 2020.
- Countries such as China, India, and Brazil have the potential to drive the future growth of the antibody testing market, owing to the growing burden of infectious and chronic diseases such as diabetes across these regions.
“Growing diseases outbreak due to changing planetary dynamics and rising patient preference for rapid diagnosis will spur the growth of the antibody testing market over the coming years,” says a PMR analyst.
Infectious Disease Epidemic Potential to Boost Market Growth
In 2014, the Ebola outbreak in Western Africa was a cause of concern for healthcare scholars, worldwide. This was followed by the Zika outbreak in 2016, and then the present COVID-19 crisis. Growing prevalence of infectious diseases and their potential to cause an outbreak or epidemic is the major reason that, in the antibody testing market, the infectious diseases segment has the highest growth potential over the forecast period. Although non-communicable diseases are the topmost cause of mortality in developed countries, infectious diseases continue to remain a key concern, as they have the potential to turn into major outbreaks, as seen with the COVID-19 pandemic.
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 2015 – 2019 and projections for 2020 – 2030, on the basis of product (serological test kits [serological assay test kits, 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 and reagents, and consumables), indication (pregnancy, cardiovascular disease, autoimmune disease, infectious disease, oncology, endocrine disease, diabetes, and others), and end user (hospitals, academic and research institutes, diagnostic laboratories, biopharmaceutical companies, and homecare settings), across seven key regions.
For additional insights on how the growth of the antibody market will unfold over the next decade, write to the analyst at firstname.lastname@example.org
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