IVD Antibodies Market

IVD Antibodies Market Snapshot (2022 to 2032)

The global IVD antibodies market is projected to grow at a healthy CAGR of around 3.8% during the forecast period between 2022 and 2032, reaching a valuation of nearly USD 1.38 Billion by 2022. Demand for IVD antibodies is driven by the rising prevalence of chronic and infectious diseases worldwide and the increasing need for early diagnosis of chronic diseases to initiate proper treatment.

Report Attribute	Details
IVD Antibodies Market Estimated Growth Rate (2022 to 2032)	3.8% CAGR
IVD Antibodies Market Projected Size (2032)	USD 2 Billion

As the global burden of chronic and infectious diseases continues to escalate, medical professionals and researchers are looking for innovative techniques and technologies to diagnose diseases at their early stages. This has put the in-vitro diagnostic (IVD) antibodies market into the spotlight.

IVD antibodies are unique diagnostic tools used for clinical diagnostics and research applications. They have become a critical component of many diagnostic assays used to detect and diagnose numerous chronic and infectious diseases such as cancer, tuberculosis, HIV etc. These IVD antibodies help medical professionals to detect and diagnose diseases at early stages, thereby allowing them to initiate proper treatment approaches.

In recent years, demand for IVD antibodies has risen at a robust pace due to increasing popularity of immunology methods such as sandwich ELISA and immunonephelometry and this trend is likely to continue during the forecast period.

Consequently, increasing proteomics and genomics research activities along with rising consumer inclinations towards opting for novel diagnostic techniques will create space for IVD antibodies market growth in the future.

By applications, FMI predicts that the cancer segment will continue to dominate the global IVD antibodies market due to the increasing incidence of cancer and a rise in cancer diagnostic screening.

How will Surge in Chronic and Infectious Diseases Affect IVD Antibodies Sales?

Increasing incidence of chronic and infectious diseases such as HIV, hepatitis, cancer, cardiovascular diseases, malaria, hepatitis, etc., across the world is a major factor driving the growth in IVD antibodies market and the trend is likely to continue during the forecast period.

IVD antibodies have become highly sought-after diagnostic products used across diagnostic laboratories and hospitals for early and accurate detection of diseases like Cancer. Thus, rapid surge in cases of various types of cancer globally will eventually boost the growth of IVD antibodies market during the forecast period.

As per the American Cancer Society, the global cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. This will create immense opportunities for IVD antibodies manufacturers during the forthcoming years.

Similarly, increasing research and development coupled with rising investments by government and non-government organizations in medical research field is likely to expand the IVD antibodies market size.

Furthermore, growing popularity of home healthcare and presence of user-friendly antibodies-based diagnostic products will further boost the demand for IVD antibodies in future.

What are the Factors Acting as Restraints for IVD Antibodies Market Growth?

There is no doubt that IVD antibodies have become highly-sought after diagnostic products used across healthcare facilities such as hospitals and diagnostic laboratories. However, there are some factors that are challenging the growth of IVD antibodies market. These factors include higher cost of the IVD antibodies, low product penetration, and lack of adequate healthcare facilities across lower economies.

Similarly, time consuming nature of research and development along with lengthy product approval process is negatively impacting market growth.

Will North America Retain its Dominant Position in the Global IVD Antibodies Market?

According to Future Market Insights, North America will continue to dominate the global antibodies market during the forecast period between 2022 and 2032. Growth in North America IVD antibodies market is driven by increasing drug research and development activities, higher product penetration, rising prevalence of cancer and cardiovascular diseases, availability of favorable reimbursement policies, and presence of leading IVD antibodies manufacturers.

Demand for IVD antibodies is especially rising across the USA due to surge in cancer cases, availability of highly advanced healthcare industry, increasing investments in research and development activities, and presence of leading pharmaceutical and biopharmaceutical giants.

The USA is home to one of the largest healthcare industries in the world. The country spends billions of dollars annually on medical research and drug development activities. For instance, annually the National Institutes of Health (NIH) alone spends around USD 41.7 billion in medical research for the American people. This is creating a conducive environment for the growth of IVD antibodies market in the region.

Similarly, growing popularity of point of care diagnostic will support the growth of IVD antibodies market during the forecast period.

Why is Europe Emerging as a Promising market for IVD Antibodies?

Demand for IVD antibodies is anticipated to rise at a substantial pace across Europe during the forecast period, owing to the rising prevalence of various chronic and infectious diseases, surge in diagnostic procedures, increasing government support, and rapid expansion of healthcare industry.

Rising prevalence of cancer and other chronic diseases across countries like the UK and Germany due to factors such as excessive drinking and smoking, exposure to harmful radiations, and rapidly growing geriatric populations is fueling the demand for IVD antibodies.

According to Cancer Research UK, each year more than a third (36%) of all cancer cases in the UK are diagnosed in people aged 75 and over. Thus, rise in cancer cases due to increasing geriatric population will continue to play a key role in augmenting the growth of IVD antibodies market in the region.

Market Competition

Some of the leading manufacturers of IVD antibodies include Thermo Fisher Scientific, Rockland Immunochemicals Inc., Abcam plc., SDIX, LLC., GenScript, Bio-Rad Laboratories, Inc., HyTest Ltd., Biocare Medical, Advy Chemical Pvt. Ltd., MEDICAL & BIOLOGICAL LABORATORIES CO., LTD., and Abbott among others.

These leading players are rigorously investing in research and development to expand their product portfolios. Moreover, they have adopted various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, etc. to capitalize on the emerging opportunities and get a competitive edge in the market.

Companies like Biocare Medical, Thermo fisher Scientific, Bio-Rad Laboratories and Abcam plc. are likely to hold a significant share of the global IVD antibodies market through 2032. These players are continuously introducing new products to expand their portfolios and cater to the rising end user demands. For instance, in 2020 Biocare Medical launched seven novel IVD IHC antibody markers for clinical diagnostics and research applications.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 3.8% from 2022 to 2032
Projected Market Size (2032)	2 Billion
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Product Type, Application, End User, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa
Key Companies Profiled	Thermo Fisher Scientific; Rockland Immunochemicals Inc.; Abcam plc.; SDIX, LLC.; GenScript; Bio-Rad Laboratories, Inc.; HyTest Ltd.; Advy Chemical Pvt. Ltd.; MEDICAL & BIOLOGICAL LABORATORIES CO., LTD.; Abbott
Customization	Available Upon Request

Key Segments Profiled in the IVD Antibodies Industry Survey

By Product Type:

• Cardiac Markers
• Tumor Markers
• Kidney Injury Markers
• Infection and Inflammation Antibodies

By Application:

• Immunology
• Cancer
• Cardiovascular Diseases

By End User:

• Hospitals
• Diagnostic Laboratories
• Homecare Settings
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

Frequently Asked Questions

What is the demand outlook for IVD antibodies market?

As per FMI, demand in the global IVD antibodies market is expected to grow at around 7% CAGR during the forecast period.

Which regions dominate the global IVD antibodies market?

North America is expected to continue its dominance in the global IVD antibodies market during the forecast period.

Which are the top players in IVD antibodies market?

Thermo Fisher Scientific, Rockland Immunochemicals Inc., Abcam plc., SDIX, LLC., GenScript, Bio-Rad Laboratories, Inc., HyTest Ltd., Advy Chemical Pvt. Ltd., MEDICAL & BIOLOGICAL LABORATORIES CO., LTD., and Abbott are some of the leading players operating in IVD antibodies market.