Chicago, April 19, 2023 (GLOBE NEWSWIRE) -- The custom antibody industry is expected to experience significant growth in the near future. This is due to the increasing demand for custom antibodies for research and diagnostic purposes. The need for custom antibodies is expected to continue to grow as more research is conducted and new diagnostic techniques are developed. The cost of custom antibodies is also likely to decrease as the industry matures and new technologies are developed. Additionally, the increasing use of artificial intelligence in the development of custom antibodies is also likely to drive industry growth. The use of AI-based solutions can help reduce costs and improve the accuracy of the antibodies. Finally, the increasing popularity of personalized medicine is likely to drive the demand for custom antibodies, as they can be tailored to the individual needs of patients. All of these trends are likely to lead to an increase in the size of the custom antibody industry in the near future.
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 according to a latest report published by MarketsandMarkets™. Increasing use of custom antibody in precision medicine, rising research activities and funding for antibody development for custom antibody are some of the major factors propelling the growth of this market. However, the presence of alternative antibodies is likely to hamper the growth of custom antibody market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164328301
Custom Antibody Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $548 million |
| Estimated Value by 2028 | $860 million |
| Growth Rate | Poised to grow at a CAGR of 9.4% |
| Market Size Available for | 2021-2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service, Type, Source, Application, Indication, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Emerging markets |
| Key Market Drivers | Increased Funding is likely to upsurge the market growth |
Based on service, the custom antibody market is broadly segmented into antibody development, antibody production & purification, and antibody labeling. In 2022, antibody development segment accounted for the largest share. The dominance of the segment is attributable to the increasing focus of researchers on high-quality antibodies for reproducibility, which can be hampered by using commercially available antibodies.
Based on type, the custom antibody market is segmented into 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 specificity and selectivity offered by monoclonal antibodies compared to other antibodies are driving the segmental growth.
The global custom antibody market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, North America dominated the custom antibody market followed by Europe and Asia Pacific respectively. Asia Pacific region is likely to grow at a faster pace during the forecast period of 2023-2028. The factors attributable to the faster growth rate are increasing investment in antibody development owing to the higher adoption of custom antibody in various applications. The overall share of this region in the global market is gradually increasing, owing to growth in research activities and therapeutic antibody development. High-growth regions such as China, Japan, India, and South korea are expected to be major contributors to the Asia-Pacific custom antibody market.
Key Market Players:
Key market players operating in custom antibody market players are Thermo Fisher Scientific (US), Merck KGaA (Germany), Agilent Technologies (US), GenScript (China), Abcam plc. (UK), Cell Signaling Technology (US), Bio-Rad Laboratories, Inc (US), and Rockland Immunochemicals, Inc (US).
Enquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=164328301
Hypothetic Challenges of Custom Antibody Market in Near Future:
- Increasing competition: With the development of the custom antibody market, the competition among vendors and suppliers is expected to increase significantly. This could lead to lower prices and make it more difficult for small and medium-sized companies to compete.
- Quality control: Quality control is one of the major challenges facing the custom antibody market. Since custom antibodies are produced in a laboratory environment, there can be a lack of standardization and consistency in the quality of the antibodies produced.
- Cost: The cost of custom antibodies is often high due to the complexity of the process and the cost of the raw materials. This could make it difficult for customers to justify the cost of the product.
- Shortages: The demand for custom antibodies is expected to increase in the near future, but the supply is limited. This could lead to shortages and make it difficult for customers to find the antibodies they need.
- Regulations: Regulatory agencies are increasingly imposing stricter regulations on the custom antibody market. This could lead to higher costs and make it difficult for vendors and suppliers to operate.
Top 3 Use Cases of Custom Antibody Market:
- Disease Diagnostics: Custom antibodies are often used in the diagnosis of various diseases such as cancer, infections, autoimmune conditions, and metabolic disorders. They can be used for detection and quantification of proteins, as well as for identifying the presence of specific antigens.
- Drug Development: Custom antibodies are essential components in the development of new drugs. They are used to identify, characterize, and validate new drug targets, as well as to improve existing drugs.
- Research & Development: Custom antibodies are a key tool in basic research and drug discovery. They are used to study the structure and function of proteins, as well as to analyze gene expression, cellular pathways, and post-translational modifications.
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.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=164328301
Related Reports:
Research Antibodies & Reagents Market
Immunofluorescence Assay Market
