Research Antibodies Market is Estimated to Witness High Growth Owing to Rising Demand From Pharmaceutical and Biotechnology Companies
Research antibodies are laboratory reagents used by scientists and researchers for detection, diagnosis, and monitoring of diseases by recognizing a specific protein or antigen in a sample. They are extensively used for drug discovery and development processes in pharmaceutical companies. The global research antibodies market is estimated to be valued at US$ 3785.5 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising investment in R&D activities by pharmaceutical and biotechnology companies is one of the major drivers supplementing the growth of research antibodies market. Pharmaceutical companies are increasingly incorporating antibodies into their drug discovery programs as they have fewer adverse effects and greater target specificity compared to small molecule drugs. According to the report by Evaluate Pharma, global R&D spending by biopharmaceutical companies was recorded at US$ 194 Bn in 2020 and is expected to reach US$ 240 Bn by 2026. Additionally, the growing prevalence of chronic and infectious diseases globally has prompted increased focus on development of novel treatment options, thereby propelling the demand for research antibodies over the forecast period.
SWOT Analysis
Strength: Research antibodies have high specificity and affinity which helps in better detection of various diseases at molecular level. Polyclonal antibodies can recognize multiple epitopes on an antigen which increases their usefulness. Monoclonal antibodies have consistent quality and affinity which makes them reliable for research applications.
Weakness: Production of monoclonal antibodies is an expensive and time-consuming process which increases their cost. Specificity of antibodies can be an issue as they may cross-react with structurally similar molecules. Dependence on animals for antibody production faces ethical concerns.
Opportunity: Growing stem cell and regenerative medicine research is boosting the demand for antibodies that help identify stem cell surface markers. Rising investments in immunotherapy research will drive the need for novel antibodies. Infectious disease outbreaks prompt increased research on disease diagnosis and treatment requiring antibodies.
Threats: Stringent regulatory approval process may delay market launch of new antibodies. Alternative proteomics techniques can replace antibody-based detection methods. Economic slowdowns can negatively impact research funding lowering antibodies demand.
Key Takeaways
The global Research Antibodies Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. Growing research in areas of oncology, infectious diseases, immunology and stem cell will boost the demand for various research antibodies for detection, purification and analysis applications.
Regional analysis: North America is currently the largest and fastest growing regional market for research antibodies. This is attributed to strong funding for biomedical research from government as well as private organizations in the US. Presence of leading antibody manufacturers and research institutes in the region drive market growth. Asia Pacific research antibodies market is expected to witness highest CAGR during the forecast period led by increasing contract research activities in countries like China and rising biomedical research in India.
Key players operating in the research antibodies market are Zoetis Inc., Elanco Animal Health, MSD Animal Health, Benchmark Holdings, Phibro Animal Health Corporation, and Intervet Inc. These companies are focusing on development and commercialization of monoclonal antibodies specific for various cellular antigens and disease markers. For instance, Norvartis offers comprehensive antibody portfolio targeting proteins involved in cancer, immunology and neurobiology research. Merck Animal Health and Novartis AG collaborate with research institutes for validation and therapeutic application of new monoclonal antibodies.
For more insights, read- https://www.pressreleasebulletin.com/research-antibodies-market-trends-size-and-share-analysis-2/
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