(MENAFN- GlobeNewsWire - Nasdaq) Rise in prevalence of chronic diseases, increase in funding from government and private sectors, and surge in R&D activities are the major factors which drive the global custom antibody services market growth.Wilmington, Delaware, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Custom Antibody Services Market by Service (Antibody Development, Antibody Production and Purification and Antibody Fragmentation and Labeling), by Type (Monoclonal Antibodies, Polyclonal Antibodies, Recombinant Antibodies and Others), Source (Mice, Rabbit and Others), Application (Oncology, Infectious Diseases, Neurology, Immunology, Cardiovascular Diseases and Others), End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033" . According to the report, the custom antibody services market was valued at $0.6 billion in 2023, and is estimated to reach $1.4 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.
Prime determinants of growth
Increase in prevalence of chronic diseases, rise in funding from government and private sectors, and surge in R&D activities are the major factors that drive the growth of the custom antibody services market. However, the high cost of customization may restrict market growth. Moreover, rise in technological advancements and high growth potential in developing economies offer remunerative opportunities for the expansion of the global custom antibody services market.
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Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $0.6 billion |
| Market Size in 2033 | $1.4 billion |
| CAGR | 8.7% |
| No. of Pages in Report | 233 |
| Segments Covered | Service, Type, Source, Application, End User, and Region. |
| Drivers | Increase in prevalence of chronic diseases Rise in funding from government and private sectors |
| Opportunity | Rise in technological advancements High growth potential in developing economies |
| Restraint | High cost of customization |
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Segment Highlights
Rise in adoption of antibody development services
By service, the antibody development segment plays a pivotal role in the market. This is attributed to increasing R&D investments, particularly in biopharmaceuticals and personalized medicine, where precise antibody specificity is essential. Technological advancements, such as recombinant DNA technology and hybridoma techniques, enhance the efficiency and customization of antibody development, further bolstering its significance in the market.
Rise in adoption of monoclonal antibodies
By type, the monoclonal antibodies segment plays a pivotal role in the market. This is attributed to their specificity and consistency in targeting particular antigens. Their extensive use in research, diagnostics, and therapeutic applications drives demand, as they offer high precision and reproducibility. Advances in monoclonal antibody technology also contribute to their prominent position.
Rise in demand for rabbits in custom antibody services
By source, the rabbit segment plays a pivotal role in the market. This is attributed to its ability to produce high-affinity antibodies and a wide range of immune responses. In addition, rabbits are also preferred for their versatility in producing antibodies against challenging antigens along with the increasing demand for detailed and accurate immunoassays, drives the segment growth.
Rise in adoption of services in infectious disease
By application, the infectious disease segment plays a pivotal role in the market. This is attributed to high demand for specialized antibodies for detecting and studying pathogens. Custom antibodies are crucial for developing diagnostic assays and therapeutic interventions against infectious agents. In addition, the ongoing need for accurate and rapid diagnostics in managing infectious diseases drives significant investment in custom antibody services.
The pharmaceutical & biotechnology companies' segment to dominate during the forecast period
By end user, the pharmaceutical & biotechnology companies' segment has a significant share in the market. This is attributed to high demand for specialized antibodies used in drug discovery, development, and therapeutic applications. These companies rely on custom antibody services to produce antibodies tailored for specific targets, enhancing their research and development efforts. In addition, the ongoing advancements in biotechnology and increased outsourcing of antibody production to specialized service providers further supports the segment growth.
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Regional Outlook
North America to Dominate by 2033
North America has a significant share in the custom antibody services market and is expected to retain its dominance throughout the forecast period. This is primarily attributed to the advanced research infrastructure and substantial R&D investment in the region. The presence of leading pharmaceutical and biotechnology companies also drives demand for custom antibody services. In addition, government support and funding for biomedical research, coupled with technological advancements in antibody production, further boost the market. Furthermore, the rise in prevalence of chronic diseases necessitates targeted therapies, increasing the need for custom antibodies thereby driving the segment growth.
Players
Thermo Fisher Scientific Inc.
Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
OriGene Technologies, Inc.
Laboratory Corporation of America Holdings
The report provides a detailed analysis of these key players in the global custom antibody services market. These players have adopted different strategies such as agreement, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Development in Custom Antibody Services Industry
In March 2024, Sino Biological, Inc., a biotechnology company, announced the formation of a services partnership with Toronto, Canada-based Rapid Novor, Inc. Under the terms of this agreement, Sino Biological will market Rapid Novor's proprietary de novo REmAb monoclonal antibody (mAb) sequencing service in combination with its custom mAb development and production services.
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