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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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:
- Growing geriatric population and subsequent increase in prevalence of eye disorders
- Technological innovations
- Growing application areas of Custom Antibody techniques
- Growing need to minimize use of radiation technologies
Restraints:
- Reimbursement challenges
- Lack of skilled operators
Opportunities:
- Expansion and market penetration opportunities in emerging economies
- Growing applications in pharmaceutical & biotechnology research
Challenges:
- Sustainability of small and medium-sized players
- 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.
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