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Custom Antibody Market worth $860 million | MarketsandMarkets

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Custom Antibody Market worth $860 million | MarketsandMarkets

April 06
21:53 2023
Custom Antibody Market worth $860 million | MarketsandMarkets
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)
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 new report by MarketsandMarkets™

The custom antibody industry is expected to grow significantly in the near future. This growth is largely due to the increasing demand for custom antibodies for research, diagnostics and therapeutic applications. The custom antibody industry has seen an increased demand for antibodies that are specific to a particular target, as well as those that can be used in multiple applications. The industry is expected to continue to expand as more organizations become aware of the potential benefits of custom antibodies. Custom antibodies are also becoming more accessible, due to advances in technology and the development of more efficient processes for producing them. This has allowed companies to manufacture custom antibodies at a much lower cost, making it easier for smaller organizations to access them.

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 new report by MarketsandMarkets™. Factors such as rising R&D funding and growing initiatives in custom antibody and increasing use of antibodies in biomarkers & validation are driving the growth of this market. However, challenges associated with the immunization of host animals are the major factors restraining the growth of this market.

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Browse in-depth TOC on “Custom Antibody Market”

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The antibody development segment accounted for the largest share of the service segment in the custom antibody market in 2022.

Based on service, the custom antibody market is broadly segmented into antibody development, antibody production & purification, and antibody labeling. In 2022, antibody development accounted for the largest share of the custom antibody market for service. This segment’s large share can be attributed to factors such as the rising demand for therapeutic antibodies, which are used in a wide range of applications.

The monoclonal antibodies segment accounted for the largest share of the type segment in the custom antibody market in 2022.

Based on type, the custom antibody market is categorized into three segments—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 degree of sensitivity and precision with the use of monoclonal antibodies in drug discovery and development are projecting the segmental growth.

Asia Pacific is likely to grow at double digit growth rate during the forecast period.

The Asia Pacific region is estimated to grow at the highest CAGR in the custom antibody market during the forecast period, this is mainly due to factors such the rising investment in research & development, increased adoption of custom antibodies for various research and diagnostics purpose, emergence of new market players in custom antibody market.

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Custom Antibody Market Dynamics:

Drivers:

  1. Growing geriatric population and subsequent increase in prevalence of eye disorders
  2. Technological innovations
  3. Growing application areas of Custom Antibody techniques
  4. Growing need to minimize use of radiation technologies

Restraints:

  1. Reimbursement challenges
  2. Lack of skilled operators

Opportunities:

  1. Expansion and market penetration opportunities in emerging economies
  2. Growing applications in pharmaceutical & biotechnology research

Challenges:

  1. Sustainability of small and medium-sized players
  2. High cost of Custom Antibody procedures and extensive data requirements

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.

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.

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Custom Antibody Market Advantages:

  • Increased sensitivity: Custom antibodies are specifically designed and tailored to target a specific protein or antigen, ensuring a high level of sensitivity and specificity in the assay.
  • Reduced background noise: Custom antibodies are able to reduce background noise, providing increased signal-to-noise ratios.
  • Cost savings: In comparison to off-the-shelf antibodies, custom antibodies can offer cost savings in terms of both production costs and labor.
  • Improved specificity: Custom antibodies are produced using sophisticated purification techniques, allowing for improved specificity and accuracy.
  • Improved availability: Custom antibodies are available on short lead times, making them a convenient solution for research and development.

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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