Custom Antibody Market to Reach USD 901M by 2029 with 9.2% CAGR | MarketsandMarkets™
/EIN News/ -- Chicago, June 24, 2024 (GLOBE NEWSWIRE) -- The custom antibody market is poised for significant growth, projected to escalate from USD 579 million in 2024 to USD 901 million in 2029, boasting a robust CAGR of 9.2% during the forecast period. Driving factors include escalating demand for personalized medicines, a global upsurge in chronic diseases, and strides in genetic engineering. Dominated by key players like Thermo Fisher Scientific Inc., GenScript, Bio-Rad Laboratories, Inc., Merck KGaA, and Agilent Technologies, the market witnesses strategic maneuvers such as new product launches, acquisitions, and geographical expansions. Thermo Fisher Scientific, renowned for premier brands and global presence, invests substantially in R&D to offer innovative products. GenScript, a prominent biotech company, focuses on collaborations for advanced cell therapy products. Merck KGaA, a healthcare & life sciences giant, expands globally through strategic partnerships, exemplified by its collaboration with Kelun-Biotech for cancer treatment.
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Advancing Precision Medicine with Custom Antibodies
Precision medicine revolutionizes healthcare by tailoring treatments to individual genetic, environmental, and lifestyle factors, ensuring efficacy while minimizing costs and side effects. The growing integration of precision medicine, especially in diseases like cancer, propels demand for custom antibodies, pivotal in targeted therapies. Monoclonal antibodies (mAbs) exemplify this paradigm, with over 38% of FDA approvals in recent years attributed to precision medicines.
Navigating Cost and Time Challenges in Antibody Development
Despite their critical role, the production of custom antibodies, particularly from transgenic animals, presents formidable hurdles. The intricate processes involved, coupled with substantial costs, pose significant barriers to market growth. The reliance on transgenic animals amplifies logistical complexities and financial burdens, underscoring the need for cost-effective alternatives.
Tapping into Emerging Markets: Growth Prospects
Amidst the burgeoning healthcare landscapes of the Asia Pacific and Latin America, burgeoning opportunities emerge for market players. These regions witness a surge in research initiatives, particularly in proteomics and genomics, driving demand for custom antibodies. With expanding research collaborations and rising R&D investments, countries like China, Brazil, and India offer promising markets for immunotherapy drugs.
Navigating Safety and Stability Challenges
In ensuring the safety and stability of antibodies, market players face multifaceted challenges. While transgenic animals offer potential solutions, they entail significant investments and regulatory hurdles. Moreover, maintaining consistent quality and functionality amidst variations in culture conditions remains a formidable task, necessitating meticulous process control and scalability.
Examining the Global Custom Antibody Ecosystem
The custom antibody industry's ecosystem spans various stakeholders, including raw material suppliers, regulatory bodies, and end-users like academic institutions and pharmaceutical companies. Together, these entities shape the market landscape, navigating challenges and capitalizing on emerging opportunities.
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Dominance of Antibody Characterization in Custom Antibody Development
In the custom antibody industry, the antibody characterization segment reigns supreme within the antibody development domain. Segmented into antibody development, production & purification, and fragmentation & labeling services, the market saw antibody characterization emerge as the frontrunner in 2023. This dominance is attributed to advancements in characterization technologies, including mass spectrometry and flow cytometry, enhancing the precision and depth of antibody analysis.
Rapid Growth Projected in Therapeutic Applications
Anticipated to be the fastest-growing segment, therapeutic applications drive the custom antibody industry forward. Segmented into research and therapeutics, the market witnessed research applications lead in 2023, with therapeutics expected to achieve the highest CAGR during the forecast period. The surge in oncology research and development investments fuels innovation, fostering the creation of novel custom antibodies.
North America Leads the Custom Antibody Landscape
Geographically segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa, North America emerges as the frontrunner in the custom antibody industry. With a robust track record of supporting targeted drug therapy research, North America boasts the largest market share, closely followed by Europe. The region's thriving clinical trials ecosystem further propels market growth.
Advancements in Custom Antibody Industry
Merck KGaA's Collaboration with Kelun-Biotech for Cancer Treatment
In December 2022, Merck KGaA joined forces with Kelun-Biotech, embarking on a collaborative journey to develop seven investigational preclinical antibody-drug conjugates (ADC) aimed at advancing cancer treatment. This strategic partnership underscores the industry's commitment to innovation and therapeutic advancement in oncology.
GenScript's Global Initiative with Applied Cells Inc. for Cell Therapy Development
November 2022 marked a milestone as GenScript partnered with Applied Cells Inc. to provide integrated cell isolation solutions worldwide, specifically targeting cell therapy drug development. This collaborative effort highlights the industry's concerted efforts to address complex healthcare challenges through innovative solutions and global partnerships.
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