Wilmington, Delaware, United States, March 22, 2023 (GLOBE NEWSWIRE) -- According to the newly released report by TMR, the global custom antibody market is expected to be valued at US$ 442.3 million in 2023 and the global market is projected to reach US$ 1 Billion by 2033. The global industry is anticipated to expand at a CAGR of 8.5% between 2023 and 2033.
The global sales for the custom antibody market in 2022 were at US$ 420 million, where the antibody development is expected to gain its highest revenue-generating service with a CAGR of 8.2% in the forecast period. Similarly, when you compare this current forecast period market with the forecast period ranging from 2018-2022, the market of the custom antibody market has increased with a CAGR of 10.7%.
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Custom antibodies are specially designed and produced so that they can target a particular antigen, tailored to a specific requirement, i.e., binding into a specific region of a protein or recognizing post-transitional modification. Therefore, the National Institute of Health (NIH) provides funding for the research of custom antibodies via various centers and its institute is available like the National Cancer Institute (NCI), and the National Institute of Allergy and Infectious Disease (NIAID).
In 2021, NIH has provided funds for over US$ 540 million for the research and development of monoclonal antibodies. Due to this antibody research and development has already gained momentum that depletes the mAbs pipeline, a rising extent of continual and exhausting disorders such as cancer, and the rising need to develop effective and promising cures for various diseases that will largely affect the quality of life of the people globally.
The antibody drug discovery through rising investments in emerging countries is responsible for the growth of the market region globally, where the Australian government has allocated US$ 3.6 billion to support science innovation for basic research from 2020 to 2021 for developing new products in the treatment of lung conditions. Some of the factors to project the use of custom bodies are the increase in R&D initiatives for developing innovative treatments and also the relative diagnostic options. Thus, due to the low-cost manufacturing advantage that is offered by emerging countries, the market players are expected to boost the market players where they can invest in emerging markets like Asia Pacific during the forecast period.
Key Takeaways of the Market Report
- By service, antibody development to tower over other categories, expected to grow at an 8.2% CAGR from 2023-2033
- Pharmaceutical & biotechnology companies to be primary end-users, registering a CAGR of 7.9%
- Development of antibodies will require high capital investments and time limitations.
- North America is considered to be the prominent market for custom antibodies followed by U.K. and China.
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Global Custom Antibody Market: Growth Drivers
- The continued rise in antibody research by government agencies is further encouraging the growth of the market, where in April 2022, Japan invested US$ 970 million in regenerative medicine whose main focus was on induced pluripotent stem cells (iPS) for the survival of the world’s population consisting, mainly the old aged group people.
- Thus, stem cells can be used in repairing human tissues or growing organs which would indirectly impact the research for antibodies in the country.
- Custom-made antibodies targeting and tailoring to specific requirements of proteins or recognizing post-transitional modification resulting in the rising need to develop effective and promising cures for various diseases, largely affecting the quality of life of the people globally
- The antibody drug discovery leading to the rising investments of emerging countries is responsible for the growth of the market region globally.
Global Custom Antibody Market: Regional Landscape
- North America to be a prominent market for custom antibodies, with an expected market size of US$ 189 million in 2023
- U.K to be another opportunistic market, with an anticipated valuation of US$ 368.5 million by 2033
- China providing significant scope for future investments, expected to experience a 7.9% CAGR
- Japan & India to be other important markets in Asia-Pacific, expected to generate a combined dollar opportunity worth US$ 47.7 million
Global Custom Antibody Market Key Players: Competitive analysis
Key players in the market are-
- Thermo Fisher Scientific
Developments:
Thermo Fisher Scientific has announced the launch of its custom antibody development that has designed to offer a faster and more streamlined process for the development of custom antibodies.
- Abcam Plc
Developments:
Abcam has announced the acquisition of Bio Vision, a company that mainly specializes in the development and manufacturing of assay kits and custom antibodies.
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Global Custom Antibody Market Segmentation by
- Service
- Antibody Development
- Antibody production & purification
- Antibody fragmentation & labeling
- Type
- Monoclonal antibodies
- Polyclonal antibodies
- Recombinant antibodies
- Other custom antibodies
- Source
- Mice
- Rabbit
- Other Sources
- Research Area
- Oncology
- Infectious disease
- Neurobiology
- Stem Cells
- Immunology
- Cardiovascular disease
- Other research areas
- End-user
- Pharmaceutical & Biotechnological industries
- Academic & Research institutions
- Contract Research Organizations
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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