Custom Antibody Market in terms of revenue was estimated to be worth $548 million in 2023 and is poised to reach $860 million by 2028, growing at a CAGR of 9.4% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Various elements such as rising research activities and funding investments for antibody developments, and the quality concerns over catalogue antibodies & problems associated with them, are driving the market growth. However, the presence of alternatives to the antibodies is likely to hinder the growth of this market.
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Key Market Players
Some of the prominent players in the custom antibody market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies (US), Abcam plc. (UK), Cell Signaling Technology, Inc (US), Bio-Rad Laboratories, Inc (US), GenScript (China), and among others.
Custom Antibody Market Dynamics
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.
OPPORTUNITIES: Emerging Markets
The rising investments by emerging countries in antibody drug discovery are responsible for the growth of the global market in the region. For instance, the Australian government has allocated USD 3.6 billion in basic research to support science, research, and innovation in the country from 2020 to 2021 to develop new products for treating lung conditions, including mepolizumab, a monoclonal antibody used to treat severe asthma. While the growing incidence of infectious and chronic disorders and increasing R&D initiatives to develop innovative treatment and diagnostic options are some of the factors likely to project the use of a custom antibody in the coming years. Additionally, developments in research infrastructure and the low-cost manufacturing advantage offered by emerging countries are expected to encourage market players to invest in emerging markets like Asia Pacific during the forecast period.
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The antibody development segment dominated the custom antibody market in 2022.
Based on service, the market is broadly segmented into antibody development, antibody production & purification, and antibody labeling. In 2022, antibody development accounted for the dominant share of the global market. This segment & large share can be attributed to factors such as the rising incidence of cancer and other chronic diseases that are creating a high demand for therapeutic antibodies. Furthermore, key market players are investing in R&D in the market is likely to upsurge the growth of the segment.
The monoclonal antibodies segment accounted for the largest share of the type segment in the custom antibody market in 2022.
Based on type, the custom antibody market is categorized into three segments—monoclonal antibodies, polyclonal antibodies, recombinant antibodies, and others. In 2022, monoclonal antibodies segment accounted for the largest share of custom antibody market. Factors such as the high degree of sensitivity and precision with the use of monoclonal antibodies in drug discovery and development are projecting the segmental growth.
North America dominated custom antibody market in 2022.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2021, North America accounted for the largest share in global market, followed by Europe and the Asia Pacific. The large share of the North American market is owing to various factors such presence of wide customer base and established distribution channels. Increased research funding for custom antibody is furthermore driving the market growth in North America.
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- In December 2022, Merck KGaA collaborated with Kelun-Biotech to develop seven investigational preclinical antibody-drug conjugates (ADC) for the treatment of cancer.
- In October 2022, Thermo Fisher Scientific acquired The Binding Site Group (“The Binding Site”), a global leader in specialty diagnostics.
- In July 2022, Bio-Techne acquired Namocell to expand its product portfolio, to include gene therapy development and commercialization, cell engineering, cell line development, single cell genomics, and antibody discovery.
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