Global Antibody Testing Market Size, Trends & Analysis - Forecasts to 2026 By Product (Serological Test Kit, Immunoglobulin Kits, lateral flow Assay Kits, Chemical and Reagents, and Consumables), By Indication (Pregnancy, Cardiovascular Disease, Autoimmune Disease, Infectious Disease, Oncology, Endocrine Disease, Diabetes, and Other Indications), By End Users (Hospital, Academic and Research Institutes, Diagnostic Laboratories, Biopharmaceutical Companies, and Homecare Settings), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis
Antibody Testing Market Insights
Antibodies are Y-shaped glycoproteins produced naturally by the immune system to defend the body against foreign intruders harming the body. The body produces antibodies to fight foreign microorganisms and viruses and to defend against infections like Covid-19 and diseases. Antibody test also known as serology test is used to assess the level of antibodies present in the blood. Antibody test results provide information about infection in people who had less or no symptoms.
After the declaration of Severe Acute Respiratory Syndrome coronavirus 2 (SARS-CoV-2) as a global pandemic, scientists and researchers are finding out different ways to test citizens and to take necessary measures that will help to contain the spread of the virus. Viral tests and antibody tests are considered vibrant tests to detect the infected citizens and helps the global healthcare ecosystems to manage the widespread of the virus.
As of now, three main types of tests are present to test SARS-CoV-2: Molecular and antigen tests (Under diagnostic tests) and Antibody tests (Under serological tests). The Food and Drug Administration has authorized over 200 diagnostic tests and 50 serological tests. The Antibody tests are done in two different ways i.e., a laboratory test and a rapid point-of-care test to assess whether someone is infected with the SARS-CoV-2 virus. Antibody testing is important to analyze the presence of antibodies to the parasite and viral and bacterial pathogens and empowers to take the correct treatment plans. An antibody test is simply a blood test to verify the presence of antibodies. Antibody testing is an effective way to minimize the effect of the Covid-19 pandemic.
Covid-19 pandemic has been considered a challenging situation across the globe and disrupts trade and socialization and brought the whole world to a standstill due to the imposition of lockdowns. The current tally of Covid-19 cases across the globe is around 111 million and is growing, though the vaccination drive has been started in different countries. Testing is one of the important ways for finding a solution to stop the spread of Covid-19 especially among the racial and ethical minorities and other weak populations across the globe.
The Covid-19 pandemic situation and rising number of cases are some of the key market drivers contributing to the growth of the Antibody testing market. The other major market drivers are increasing in the number of patients that suffer from cardiovascular diseases, endocrine diseases, autoimmune diseases, diabetes, cancer, and also an increase in several pregnancies. The increase in the elderly population also contributes towards market growth.
This market is currently witnessing a boost as the testing for Covid -19 infected people is increasing all over the globe. As of February 2021, over 330 million tests have been performed in the U.S, most by any country followed by 205 million tests conducted in India. The trend line shows an increase in several Covid-19 cases and as per the data published in the report by Harvard professors, around 40-70% of the world population will get infected with the novel Covid-19 virus.
Antibody Testing Market: By Product
Based on the product analysis of the Antibody testing, the market can be segregated into Serological test kits (Serological assay test kits and Serological rapid assay test kits), Immunoglobin kits (Immunoglobin assay test kits and immunoglobin rapid assay test kits), Lateral flow assay kits (Lateral flow Assay test kits and lateral flow rapid assay test kits), Chemicals and reagents and consumables. Owing to the current pandemic situation, a rising number of Covid-19 cases, the market for serological test kits and immunoglobin test kits will be the largest as well as the fastest-growing. As of February 2021, the total no. of active cases in the U.S. is 28 million and is increasing day by day and will lead to more testing of people.
Antibody Testing Market: By Indication
Based on the Indication, the market can be segmented into cardiovascular diseases, Autoimmune diseases, Infectious diseases, oncology, Endocrine diseases, diabetes, pregnancy, and others. The market for infectious diseases has the largest market share as of 2019. As per the WHO list for the top ten causes of death in 2019, the infectious disease accounts for more than 50% of the entire list. Covid-19 Infection is one of the largest contributors to the infectious disease market share growth.
Antibody Testing Market: By End User
Based on the end-user, the market can be segregated and explained into hospitals, biopharmaceutical companies, academic and research institutes, homecare settings and diagnostics laboratories among others. The market for diagnostics laboratories has the largest market share owing to the increasing number of patients for Covid-19 tests and a large number of geriatric populations that are prone to Covid-19 infection. According to the data published by WHO, approximately 2.46 million people died due to the Covid-19 virus.
Antibody Testing Market: By Region
The market for North America will be dominant as of 2020 followed by the Europe region, as this region has a higher demand for rapid testing during the Covid-19 pandemic. The increasing product launches across the region are diving into the market. The increasing number of geriatric populations also boosting the market growth. According to the data published Census, approximately 40 million old-age residents are in the US.
Antibody Testing Market Share and Competitor Analysis
Thermo Fisher Scientific, Bio-Techne, Abbott Laboratories, Meridian Bioscience, Bio-Rad Laboratories, Inc., BioLegend, Becton, Dickinson and Company, Promega, F. Hoffmann-La Roche AG, Werfen (Biokit), Agilent Technologies, Trinity Biotech, DiaSorin, Abcam, and Zeus Scientificamong others are the top players in the Antibody Testing market.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2020, Thermo Fisher scientific has got approval for its Omnipath Covid-19 total Antibody ELISA test for SARS-CoV-2 and EliA SARS-CoV-2 Sp1 lgG test and got the CE marking for the same. This is the Antibody testing offered by the company.
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The Global Antibody Testing Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Antibody Testing Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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