According to Research Report Custom Antibody Market is poised for significant growth, with a projected value of USD 860 million by 2028, compared to USD 548 million in 2023, representing a robust compound annual growth rate (CAGR) of 9.4% during the forecast period. This surge in market expansion is primarily driven by the escalating utilization of antibody biomarkers in diagnostics for identification and validation purposes. Moreover, the market's growth is further fueled by an increase in research and development funding, coupled with substantial investments made by key industry players in the custom antibody sector. These factors collectively create a favorable environment for the market's continued growth in the years to come.
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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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As of 2022, the custom antibody market witnessed a dominant position of the antibody development segment within the service segments. This prominence was driven by the escalating demand for therapeutic antibodies, which have extensive applications across various fields.
In terms of the type segment, the monoclonal antibodies segment held the largest share in the custom antibody market in 2022. The popularity of monoclonal antibodies can be attributed to their exceptional sensitivity and precision, which make them invaluable in drug discovery and development processes. The pharmaceutical industry, in particular, has embraced monoclonal antibodies due to their remarkable specificity, enabling them to target specific molecules or cells effectively.
It's important to acknowledge that market dynamics are subject to change over time, and the information presented here reflects the scenario in 2022. To obtain the most current and accurate insights into the custom antibody market, it is advisable to refer to the latest market research and reports.
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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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