PUBLISHER: Allied Market Research | PRODUCT CODE: 1566973
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566973
Custom Antibody Services Market
The custom antibody services market was valued at $0.6 billion in 2023 and is projected to reach $1.4 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.
Custom antibody services involve producing distinguished antibodies as per user requirements. The antibodies are specifically tailored for diagnostic, research, and therapeutic purposes. A key benefit of utilizing custom antibody services is the attainability of specificity in antibodies against antigens, resulting in improved & reliable experimental results. In addition, the flexibility of integrating different modifications into the antibodies attracts clients to benefit from the custom antibody services.
Increase in the popularity of personalized medicine for targeted therapies is rising the adoption of custom antibody services in the healthcare field. In addition, with surging expenditure in the pharmaceutical and biotech sectors for the strengthening of their R&D activities, the growth of the market is being driven considerably. The future of the custom antibody services market is anticipated to be redefined by recombinant technology and novel antibody trends. AI and ML algorithm are poised to assist in the designing of antibodies and develop next-generational antibodies such as single domain antibodies, bispecific antibodies, and antibody fragments.
However, the high cost of antibody production and extended development time hamper the growth of the custom antibody services market. In addition, the quality control measures and validation processes established for the approval of antibodies are highly rigorous and time-consuming. Efficient compliance with such standards delays the growth of the market. Contrarily, with rising investments on drug development and R&D, the custom antibody services market is anticipated to witness several lucrative growth opportunities. According to Statista, a global data and business intelligence platform, the U.S. spent an estimated amount of $603 billion on medicine in 2022. Furthermore, pharma companies in the U.S. spend approximately 21% of their revenue on R&D activities. Such expenditures indicate a promising future for the custom antibody services market.
Segment Review
The custom antibody services market is segmented into service, type, source, application, end user, and region. On the basis of service, the market is divided into antibody development, antibody production & purification, and antibody fragmentation & labeling. As per type, it is classified into monoclonal antibodies, polyclonal antibodies, recombinant antibodies, and others. Depending on source, it is categorized into mice, rabbit, and others. According to application, it is divided into oncology, infectious diseases, neurology, immunology, cardiovascular diseases, and others. By end user, it is segmented into pharmaceutical & biotechnology companies, academic & research institutes, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of service, the antibody development segment dominated the market in 2023.
As per type, the monoclonal antibodies segment was the major shareholder of the market in 2023.
Depending on source, the rabbit segment held a high share in the market in 2023.
According to application, the infectious diseases segment accounted for a high share in the market in 2023.
By end user, the pharmaceutical & biotechnology companies segment acquired a high stake in the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The major players of the global custom antibody services market are Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies, Inc., Sino Biological, Inc., Bio-Rad Laboratories, Inc, Kaneka Eurogentec S.A., YenZym Antibodies, LLC., OriGene Technologies, Inc., Laboratory Corporation of America Holdings., and GenScript. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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