High Demand in Research Drives Growth of Custom Antibody Market
According tour new research study on “Custom Antibody Market Forecast t2028 – COVID-19 Impact and Global Analysis – by Service, Type, Source, Research Area and End User,” the market is expected treach US$ 833.71 million by 2028 from US$ 371.54 million in 2020; it is estimated tgrow at a CAGR of 10.7% from 2021 t2028. The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed tthe factors such as the high demand for research, growing support from governments, continuously changing disease profiles, and increasing funding activities that are widely enhancing the performance of biotechnology. However, the high cost of production hinders market growth.
Custom antibodies are widely preferred in research tdifferentiate antibody products. These antibodies are continuously evaluated tprovide safe, accurate, and efficient products with improved quality. For instance, in January 2020, as per World Health Organization (WHO), a collaborative team of Chinese and Australian researchers has published their research for the first genome of the virus. The SARS-CoV-2 was critical for research studies, especially in the investigations about the development of vaccines against it. Thus, the virus was sequenced over 3,000 times till May 13, 2020, tmake its genetic map freely available tresearchers globally, which generated massive demand for custom antibodies. Small and medium-sized companies have increased their research and development investments and activities exponentially. In April 2020, the US federal government allocated US$ 3.5 billion tBiomedical Advanced Research and Development Authority (BARDA) under its Coronavirus Aid, Relief, and Economic Security (CARES) Act tsupport the authority’s expenses for processes such as manufacturing, production, and procurement of vaccines, therapeutics, diagnostics, and small molecule active pharmaceutical ingredients (APIs). In addition, the fund is allocated for further use, such as development, translation, and demonstration of innovations at a larger scale suitable for manufacturing. Such investments have escalated the demand for custom antibodies.
Geographically, the custom antibody market is segmented intNorth America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SCAM). The North American region holds the largest market share, whereas the Asia Pacific region is the fastest-growing region. The growth factors contributing tthe market’s growth in the North American region are increasing research activity and funding, quality concerns over catalog antibodies, growing antibody therapeutics and expanding drug pipeline, developing industry-academia collaborations. In the Asia Pacific, Japan is the largest market for custom antibodies. The market growth in Japan is attributed tthe key driving factors such as the presence of key market players and their engagement in product developments, as the high demand in research, growing support from governments, continuously changing disease profiles, and increasing funding activities are widely intensifying the performance of biotechnology.
ThermFisher Scientific Inc; Bio-Rad Laboratories Inc; Merck KGaA; ABCAM; GenScript; Rockland Immunochemicals, Inc; ProMab; BioLegend, Inc; Agilent Technologies, Inc; Cell Signaling Technology, Inc; are among the leading companies operating in the custom antibody market.
The report segments the custom antibody market as follows:
- Antibody Development
- Antibody Production and Purification
- Antibody Fragmentation and Labelling
- Monoclonal Antibodies
- Polyclonal Antibodies
- Other Custom Antibodies
By Research Area
- Stem Cells
- Infectious Diseases
- Cardiovascular Diseases
By End Users
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Contract Research Organizations
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- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South and Central America (SCAM)
- Rest of South and Central America