Custom Antibody Market worth $860 million | 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)

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:

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.

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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Coverage of players in the Custom Antibody market:

Pricing analysis, Key conferences, and events 2022-2023, key stakeholders & buying criteria, and trends/ disruptions impacting customer business are added in the market overview chapter.

The new edition of the report provides updated financial information till 2021 (depending on availability) for each listed company in a graphical representation. This would help in the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.

In the new edition of the report research and therapeutics segment is included under the application segment.

In the new edition of the report oncology, infectious diseases, immunology, neurobiology, cardiovascular diseases, and others segment is included under the indication segment

Impact of recession has also been added in the new addition of the report.

Recent developments are helpful to understand market trends and growth strategies adopted by players in the market.

Tracking product portfolios of prominent market players helps to analyze the major products in the custom antibody market. The new edition of the report provides an updated product portfolio of the companies profiled in the report.

Market evaluation framework, market share analysis and competitive leadership mapping have been added in competitive landscape chapter of the report.

The competitive leadership mapping has been updated considering recent developments in the company evaluation matrix.

About MarketsandMarkets™:

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