Global Custom Antibody Market (2020 to 2028) – COVID-19 Impact and Analysis – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Custom Antibody Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Service, Type, Source, and Research Area, End Users, and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market is expected to reach US$ 833.71 million by 2028 from US$ 409.26 million in 2021; it is estimated to grow at a CAGR of 10.7% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to the 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 to differentiate antibody products. These antibodies are continuously evaluated to provide 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, to make its genetic map freely available to researchers 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 to Biomedical Advanced Research and Development Authority (BARDA) under its Coronavirus Aid, Relief, and Economic Security (CARES) Act to support 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 into North 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 to the 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 to the 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.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the custom antibody market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global custom antibody market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Market Dynamics
Drivers
- High Demand in Research
- Market Consolidations Strategies Adopted by Biotechnology Companies
- Production and Development Services Offered by Custom Antibody Providers
Restraints
- High Cost of Production
Opportunities
- Proliferation of Biotechnology Industry in Developing Regions
Future Trends
- Developments for Custom Antibodies
Companies Mentioned
- Thermo Fisher Scientific Inc
- Bio-Rad Laboratories Inc
- Merck KGaA
- ABCAM
- GenScript
- Rockland Immunochemicals, Inc
- ProMab
- BioLegend, Inc
- Agilent Technologies, Inc
- Cell Signaling Technology, Inc
For more information about this report visit https://www.researchandmarkets.com/r/78clu0
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