Hyderabad, India -- (SBWIRE) -- 02/22/2023 -- Monoclonal Antibody Diagnostic Reagents Market

Monoclonal antibodies are useful in diagnostic medicine for determining the concentration of certain proteins in blood or urine. For example, a high blood level of a prostate-specific antigen, as assessed by its interaction with a monoclonal antibody, indicates the presence of prostate cancer. Carcinogenic-embryonic antigen (colorectal cancer), prostate specific antigen (expressed in prostate cancer), CA125 (ovarian cancer), CA19-9 (gastrointestinal cancer), CA15-3 antigen, and HER-2/neu proteins are all widely used to detect carcinogenic-embryonic antigen (colorectal cancer), prostate specific antigen (expressed in prostate cancer), and HER-2/neu proteins (breast cancer).

Market Size and Future Apprehension:

According to the most recent USD Analytics analysis, the worldwide "Monoclonal Antibody Diagnostic Reagents Market" is expected to grow at a CAGR of 13.5% during the forecast period 2023-2030.

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Market Dynamics:

Market Drivers:
The growing usage of monoclonal antibodies in research and development, cancer treatments, and immunological diseases is likely to fuel growth in the worldwide monoclonal antibody diagnostic reagents market. Monoclonal antibody diagnostic kits are becoming more popular for detecting communicable illnesses, such as transfusion-transmissible infections (TTI). According to World Health Organization (WHO) estimates from 2017, over 15 million people die each year in emerging economies as a result of infectious illnesses. Morbidity is also caused by tropical parasitic illnesses such as schitosomiasis and sexually transmitted infections such as syphilis. The development of precise, simple, and stable diagnostic instruments is urgently needed.

Restraints:
Nevertheless, high costs and the requirement of significant time may impede the worldwide monoclonal antibody diagnostic reagents market growth over the forecast period.

Market Opportunities:
As markets in the United States and Europe mature, most players are moving their attention to emerging regions. High expenditures in healthcare and life science research in emerging economies are critical to modernising these nations' laboratory infrastructures. This, in turn, encourages the installation of diagnostic equipment in laboratories, leading to an increase in the use of molecular diagnostics.

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Market Challenges:
Clinical laboratories must employ novel technology capable of quick sample detection due to the rapid mutation of microorganisms and the rising emergence of epidemics. Nevertheless, a lack of experienced and technically knowledgeable laboratory staff to operate modern molecular diagnostic devices has stymied their widespread acceptance, particularly in emerging economies.

Segmentation Analysis:
The global Monoclonal Antibody Diagnostic Reagents Market can be segmented based on diagnostic tests, application,

By Diagnostic Tests:
- Dot-immunogold Filtration Assay
- Double Antigen Sandwich Chemiluminescence Method
- EnzymeLinked Immunosorbent Assay
- Recombinant Immunoblot Assay

By Application:
- Hormones Diagnosis
- Tumor Monitoring
- Virus Detection
- Others

Competitive Landscape:
The major companies in Monoclonal Antibody Diagnostic Reagents Market include

- AnaSpec
- BioGenex
- Bio-Rad
- Biocare Medical
- BioVision
- Celltrion
- Creative Diagnostics
- Genway Biotech
- Innovent Biologics
- Medix Biochemica
- Qiagen
- Teva Pharamceutical Ltd

Regional Analysis:
Because of its well-established healthcare infrastructure and increased government funding for cancer research and technology for the development of novel diagnostic techniques, North America is likely to dominate the worldwide monoclonal antibody diagnostic reagents market in terms of revenue share.