Custom Antibody Market worth $860 million | MarketsandMarkets

CHICAGO, Feb. 28, 2023 /PRNewswire/ -- 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"

312 - Tables
40 - Figures
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Custom Antibody Market Scope:

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.

Custom Antibody Market- Report Highlights:

Refinement in the segments of the global Custom Antibody market:

• The current edition of the report consists of an updated market overview, average selling price trends, value chain analysis, Porter's Five Forces analysis, ecosystem map, pricing analysis, patent analysis, and new industry insights.
• The report also consists of the impact of recession on the global Custom Antibody market.
• The competitive landscape chapter has been updated with the market evaluation framework and updated product portfolio matrix. The competitive landscape also includes the revenue share analysis of the top market players and an updated competitive situation and trends section.
• Competitive leadership mapping for SMEs/start-ups has also been updated for the Custom Antibody market.

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.

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