Custom Antibody Market is projected to reach USD 860 million by 2028 from USD 548 million in 2023, at a CAGR of 9.4% during the forecast period. The growth of this market is mainly driven by expanded use of antibody biomarkers identification and validation in diagnostics. Furthermore, increased R&D funding coupled with high investment by market players in custom antibody is likely to upsurge market growth in coming years.
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Key Market Players
The prominent players operating in the custom antibody market are Thermo Fisher Scientific Inc. (US), GenScript (China), Merck KGaA (Germany), Abcam (US), and Agilent Technologies, Inc. (US).
DRIVERS: Increased Funding is likely to upsurge the market growth
Antibody development and research has gained momentum, owing to the depleting mAbs pipeline, rising incidence of chronic and debilitating disorders such as cancer and infectious diseases; and growing need to develop effective and promising cures for several diseases that adversely affect the quality of life across the globe. The continuous rise in the funding for antibody research by government agencies is further supporting the growth of this market. For instance, in April 2022, Japan invested USD 970 million in regenerative medicine, focusing on induced pluripotent stem cells (iPS) to survive with the world's oldest population. The stem cells can then be used to repair human tissues or grow organs, indirectly impacting antibody research in the country. The funding will enable the country to continue to support custom antibody startups and SMEs, strengthen the emerging asiatic bioeconomy and help unlock the societal benefits of custom antibody.
RESTRAINTS: Cost and complexities associated with antibody
The development of antibodies requires detailed knowledge and qualitative considerations, which require high capital investments and time limitations. In addition, the technologies required for antibody production include large bioreactors, filtration systems, and media & buffers for upstream/ downstream processing and purification. Thus, on average, the cost to produce custom mAbs goes on increasing depending on the additional services required, based on the procedures followed by each player. While developing the site-specific antibody requires consideration of the antigen against which antibodies need to be generated, followed by their specificity and reproducibility. Thus, the cost associated with antibodies can potentially hamper the market growth to a certain extent.
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Asia Pacific is likely to grow at double digit growth rate during the forecast period.
The Asia Pacific region is estimated to grow at the highest CAGR in the custom antibody market during the forecast period, this is mainly due to factors such the rising investment in research & development, increased adoption of custom antibodies for various research and diagnostics purpose, emergence of new market players in custom antibody market.
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