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Antibodies Market Report Size, Growth And Forecast Report 2024 To 2033
Antibodies Market Share
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According to The Business Research Company's, The antibodies market size has grown rapidly in recent years. It will grow from $249.13 billion in 2023 to $286.81 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to rise in prevalence of chronic diseases, growth in number of clinical trials, expansion of therapeutic areas, growth in awareness of personalized medicine, and rise in diagnostic applications.
The antibodies market size is expected to see rapid growth in the next few years. It will grow to $504.99 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to increasing cancer research, growing immunotherapy applications, increasing use of monoclonal antibodies, rising number of clinical trials, and increasing adoption of precision medicine. Major trends in the forecast period include the implementation of advanced biomanufacturing technologies, advancements in antibody engineering, integration of high throughput screening methods, implementation of next-generation sequencing technologies, and implementation of novel delivery systems.
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Market Drivers and Trends:
The rising prevalence of autoimmune diseases is expected to propel the growth of the antibodies market going forward. Autoimmune diseases refer to conditions where the immune system erroneously targets and damages its own tissues, including disorders such as rheumatoid arthritis, lupus, and multiple sclerosis. The growing rate of autoimmune diseases is attributed to environmental factors, genetic susceptibility, and alterations in lifestyle. Antibodies target and neutralize specific immune cells or inflammatory molecules that mistakenly attack the body's own tissues, thereby reducing inflammation and alleviating symptoms. For instance, in May 2024, according to the Multiple Sclerosis International Federation, a UK-based non-profit organization, the global number of people with multiple sclerosis increased from 2.8 million in 2020 to 2.9 million in 2023. Therefore, the rising prevalence of autoimmune diseases is driving the antibodies market.
Major companies operating in the antibodies market are developing validated antibodies to enhance accuracy and ensure consistent results in diagnostics and therapeutics. Validated antibodies are antibodies that have been tested and confirmed for accuracy and specificity in detecting target proteins, enhancing the credibility of research results, and ensuring the quality and effectiveness of antibody-based products. For instance, in March 2024, Bio-Rad Laboratories, a US-based life science research and clinical diagnostics manufacturing company, launched Celselect slides validated antibodies for rare cell and circulating tumor cell (CTC) enumeration, enhancing the study of tumor heterogeneity and disease progression. These antibodies, compatible with Bio-Rad's Celselect Slides Enumeration Stain Kits, enable precise CTC detection and mark a significant advancement supporting advanced cancer research and diagnostics.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Merck & Co Inc., AbbVie Inc., Sanofi S.A., Bristol Myers Squibb Company, Novartis AG, GSK plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Regeneron Pharmaceuticals Inc., Biogen Inc., Alexion Pharmaceuticals Inc., Incyte Corporation, Kyowa Kirin Co Ltd., Ultragenyx Pharmaceutical Inc., Xencor Inc., MacroGenics Inc., ImmunoGen Inc., Sorrento Therapeutics Inc., Beam Therapeutics Inc., SAB Biotherapeutics Inc., bluebird bio Inc., Iovance Biotherapeutics Inc.
Antibodies Market 2024 Key Insights:
• The antibodies market size is expected to see rapid growth in the next few years. It will grow to $504.99 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%.
• Growing Autoimmune Disease Rates Fuel Expansion In Antibodies Market
• CelSelect Validated Antibodies Enhance Precision In Cancer Research And Diagnostics
• North America was the largest region in the antibodies market in 2023
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