Procalcitonin Antibody Market Is Growing Exponentially In Order To Gain More Demand By 2026

Coherent Market Insights added Latest Research Report titled " Procalcitonin Antibody Market, By Antibody Type (Polyclonal Procalcitonin Antibody and Monoclonal Procalcitonin Antibody), By End User (Hospitals, Research Institutes, and Others), and By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2018 - 2026 " to its Large Report database.

Procalcitonin (PCT) is a peptide precursor of the hormone calcitonin, and belongs to calcitonin (CT) superfamily of peptides. Procalcitonin is a 116 amino acid peptide that has an estimated molecular weight of 14.5 kDa. It can be segregated into three parts, namely immature calcitonin, calcitonin carboxyl-terminus peptide-1, and amino terminus of the PCT region. Procalcitonin was first classified by Bernard Roos and Leonard J. Deftos in the early 1970s. Procalcitonin is produced by C cells of the thyroid and by endocrine cells of the lung.

Procalcitonin Antibody Market Dynamics

Procalcitonin variance in healthy individuals and microbial infected individuals has led to the use of PCT as a marker to develop antibiotic therapy and improve identification of bacterial infections. Increasing prevalence of various chronic diseases such as hepatitis, sepsis, tuberculosis, and HIV is expected to propel growth of the procalcitonin antibody market. For instance, according to the World Health Organization (WHO) fact sheet of 2018, cancer was responsible for 8.8 million deaths in 2015 globally. Moreover, according to the World Health Organization report of 2017, around 1.0 million deaths occurred due to HIV related illnesses worldwide. Furthermore, WHO 2017, fact sheet revealed that 71 million people were having chronic hepatitis C infection. Approximately 399,000 people die each year from hepatitis C, mostly from cirrhosis and hepatocellular carcinoma. These incidences have led to the adoption of new techniques and procedures by research institutes and hospitals for quick diagnosis of the diseases, so that it can be treated within the earliest time frame. Moreover, increasing funding for research and development by commercial market players and government agencies for the development of efficient, safer, and innovative products for the treatment of diseases such as cancer is fueling growth of the procalcitonin antibody market. For instance, in 2018, the U.S government approved US$ 3 billion funds for the National Institutes of Health research and development activities.

Procalcitonin Antibody Market Taxonomy

On the basis of antibody type, the global procalcitonin antibody market is segmented into:

• Polyclonal Procalcitonin Antibody
• Monoclonal Procalcitonin Antibody

On the basis of end user, the global procalcitonin antibody market is segmented into:

• Hospitals
• Research Institutes
• Others

Procalcitonin Antibody Market – Competitive Landscape

Key market players operating in the global procalcitonin antibody market include bioMerieux, HyTest, Roche Diagnostics, Snibe, Thermo Fisher Scientific, Vazyme Biotech, Hotgen Biotech, Getein Biotech, and Hangzhou Realy Tech Co., Ltd. Market players are involved in developing technologies, new product launches, mergers, and collaborations with major companies, in order to retain dominance in the global market.

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Procalcitonin Antibody Market – Regional Insights

On the basis of region, the global procalcitonin antibody market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America is estimated to account for the largest share in the global procalcitonin antibody market, owing to increasing adoption of new techniques in research, and huge national healthcare spending. For instance, according to the U.S Centers for Medicare & Medicaid Services, national healthcare spending is projected to grow at an average rate of 5.5% per year from 2017 to 2026 and will reach around US$ 5.7 trillion by 2026.

Asia Pacific is expected to exhibit significant growth in the procalcitonin antibody market, followed by Europe, owing to increasing healthcare researches and rising geriatric population vulnerable to sepsis disease. According to the Center for Strategic and International Studies, in 2015, 9.5% of the population in China was 65 years or older and as per the United Nations, it is projected to reach to 27.5% by 2050.

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