Procalcitonin Antibody Market: Innovative products for the treatment of diseases such as cancer boost the growth of the market
Procalcitonin (PCT) is a peptide precursor of the calcitonin hormone. Procalcitonin is a peptide that contains 116 amino acids and has an estimated molecular weight of 14.5 kDa. It can be separated into three parts: immature calcitonin, amino terminus of the PCT region, and calcitonin carboxyl-terminus peptide-1. In 1970, procalcitonin was first classified by Leonard J. Deftos and Bernard Roos. It is produced by endocrine cells of the lung and by C cells of the thyroid. The level of procalcitonin rises in the human body due to injury, shock, or bacterial infection, which increases the production of procalcitonin, resulting in organ dysfunction. The level of procalcitonin in the body can be diagnosed with wet lab analysis using procalcitonin antibody.
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The global procalcitonin antibody market is expected to be driven by rise in prevalence of chronic diseases such as sepsis, hepatitis, tuberculosis, and HIV. According to the World Health Organization (WHO), cancer accounted for 8.8 million deaths and HIV related illnesses accounted for around 1.0 million deaths globally in 2015. Procalcitonin antibody is used as a marker to improve identification of bacterial infections and develop antibiotic therapies. This is expected to drive the procalcitonin antibody market. Moreover, increase in funding for research and development by major players and government initiatives for the development of safer, efficient, and innovative products for the treatment of diseases such as cancer boost the growth of the global procalcitonin antibody market. For instance, in 2018, the U.S. Government approved US$ 3 Bn fund for the National Institutes of Health’s research and development activities.
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The global procalcitonin antibody market can be segmented based on antibody type, end-user, and region. In terms of antibody type, the global procalcitonin antibody market can be bifurcated into polyclonal procalcitonin antibody and monoclonal procalcitonin antibody. Based on end-user, the global procalcitonin antibody market can be classified into hospitals, research institutes, and others. In terms of region, the global procalcitonin antibody market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region can be divided into specific countries/sub-regions such as the U.S., Canada, the U.K., Germany, Brazil, China, India, and GCC Countries. North America dominated the global procalcitonin antibody market in 2017 because of increase in adoption of new techniques in research and rise in health care spending. According to the U.S. Centers for Medicare & Medicaid Services, national health care spending is projected to increase at an average rate of 5.5% per year from 2017 to 2026 to reach around US$ 5.7 Trn by 2026. Asia Pacific is considered to be the most attractive market for procalcitonin antibody during the forecast period due to surge in health awareness and demand for advanced medical technology.
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Key players operating in the global procalcitonin antibody market are bioMérieux SA, HyTest Ltd., F. Hoffmann-La Roche Ltd., Shenzhen New Industries Biomedical Engineering Co., Ltd., Thermo Fisher Scientific, Vazyme Biotech Co., Ltd., Hotgen Biotech Co., Ltd., and Hangzhou Realy Tech Co., Ltd., among others. These players have adopted strategies such as collaborations, agreements, partnerships, and new product launches to gain competitive advantage in the procalcitonin antibody market.
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