According to Research Report Custom Antibody Market is expected to experience significant growth, reaching a projected value of USD 860 million by 2028, compared to USD 548 million in 2023. This represents a compound annual growth rate (CAGR) of 9.4% during the forecast period. The expansion of this market can be attributed to the increasing utilization of antibody biomarkers for identification and validation in diagnostics. Additionally, there has been a rise in research and development funding, accompanied by substantial investments by market players in the custom antibody sector. These factors are expected to drive the growth of the market in the coming years.
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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.
The custom antibody market is influenced by various dynamics that impact its growth and development. Some key dynamics include:
- Increased demand for antibody biomarkers: The expanding use of antibody biomarkers for identification and validation in diagnostics is a major driver of the custom antibody market. Antibody biomarkers play a crucial role in disease diagnosis, prognosis, and therapeutic monitoring, leading to a rising demand for customized antibodies.
- Growing research and development activities: The market is experiencing significant growth due to increased research and development activities in the field of biotechnology and pharmaceuticals. This has resulted in the need for custom antibodies to support these studies and accelerate drug discovery and development processes.
- Rising investment by market players: Market players are investing heavily in the custom antibody sector, recognizing its potential for growth and profitability. These investments focus on expanding production capacities, improving technological capabilities, and developing innovative antibody solutions to meet the evolving demands of the market.
- Advancements in antibody engineering technologies: Continuous advancements in antibody engineering technologies, such as recombinant DNA technology and phage display, have facilitated the development of custom antibodies with improved specificity, affinity, and stability. These technological advancements have opened up new avenues for customized antibody production.
- Increasing prevalence of chronic and infectious diseases: The growing prevalence of chronic and infectious diseases worldwide has fueled the demand for precise and reliable diagnostic tools. Custom antibodies play a vital role in the development of accurate diagnostic assays, enabling early disease detection and personalized treatment approaches.
- Collaborations and partnerships: Collaborations between academic research institutions, biotechnology companies, and pharmaceutical companies are driving the growth of the custom antibody market. These partnerships aim to leverage expertise, resources, and technologies to accelerate the development and commercialization of custom antibody-based products.
- Stringent regulatory guidelines: The custom antibody market is subject to stringent regulatory guidelines to ensure the safety and efficacy of these products. Compliance with regulatory standards, such as Good Manufacturing Practices (GMP), is crucial for market players to gain approval and maintain quality in custom antibody production.
- Adoption of personalized medicine approaches: The growing trend towards personalized medicine, which emphasizes tailored treatment strategies for individual patients, has increased the demand for customized antibodies. Custom antibodies enable precise targeting of specific molecular markers, facilitating personalized diagnostic and therapeutic interventions.
These dynamics collectively contribute to the growth and evolution of the custom antibody market, providing opportunities for market players to expand their offerings and cater to the increasing demands of the healthcare and biotechnology sectors.
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In 2022, the antibody development segment held the largest share among the service segments in the custom antibody market. This segment’s prominence can be attributed to the increasing demand for therapeutic antibodies, which find applications in a wide range of fields.
Regarding the type segment, the monoclonal antibodies segment accounted for the largest share in the custom antibody market in 2022. This can be attributed to the high sensitivity and precision offered by monoclonal antibodies in drug discovery and development processes. The use of monoclonal antibodies has gained significant importance in the pharmaceutical industry due to their specificity and ability to target specific molecules or cells.
It’s important to note that market dynamics can evolve over time, and the information provided reflects the situation in 2022. It’s recommended to refer to the latest market research and reports for the most up-to-date information on the custom antibody market.
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.
Report Link: Custom Antibody Market
Recent Developments:
- 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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