(I-BusinessNews.Com, July 23, 2021 ) According to research report the Neuroscience Antibodies and Assays Market is expected to reach USD 4.18 Billion by 2023 from USD 2.57 Billion in 2018, at a CAGR of 10.2%.
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Growth in this market is driven by the rising incidence of neurological diseases, increasing investments in neuroscience research, and growth in the pharmaceutical and biotechnology industries. On the other hand, quality and cost concerns over the production of antibodies are the major factor restraining the growth of this market.
The Neuroscience Antibodies Market are segmented based on product, technology, application, end user, and region.
Based on product, the Neuroscience Antibodies and Assays Market is segmented into consumables and instruments. The consumables segment is expected to account for the largest market share in 2018 and is projected to register the highest CAGR during the forecast period. The consistent usage of consumables and their frequent purchases, and rising government initiatives in the genomics and proteomics research sector are the major factors supporting the growth of the consumables segment.
Based on technology, the market is segmented into immunoassays/immunochemistry, molecular diagnostics, clinical chemistry, and other technologies. The immunoassays/immunochemistry segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the development of novel antibodies and assays for immunoassay techniques, technological developments in immunoassays, and rising government initiatives in the genomics and proteomics research sector.
Based on application, the neuroscience antibodies and assays market is segmented into research, drug discovery and development, and in vitro diagnostics. The in vitro diagnostics applications segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing incidence and prevalence of neurological diseases across the globe, especially in developing countries.
The market is fragmented, with the presence of several large as well as emerging players. In 2017, Thermo Fisher Scientific (US), Abcam (UK), Bio-Rad (US), and Merck KGaA (Germany) were the leading players in the neuroscience antibodies and assays market. Other major players include BioLegend (US), Cell Signaling Technology (US), F. Hoffmann-La Roche (Switzerland), GenScript (China), Rockland Immunochemicals (US), Santa Cruz Biotechnology (US), Siemens (Germany), and Tecan (Switzerland).
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In 2018, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to the increasing investments for the development of structure-based drug designs, growing research in the field of genomics and proteomics, rising demand for high-quality research tools for data reproducibility, and the focus of stakeholders on research projects involving proteins, associated biomolecules, and genes.
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