The antibody discovery market involves the development and optimization of therapeutic antibodies for treating various diseases like cancer, infectious diseases, and other immunological disorders. Antibodies can bind to antigens on virus, bacteria, or diseased cells and tag them for destruction by the immune system. They have emerged as a major class of biopharmaceutical drugs due to their high specificity and affinity to target molecules. R&D in the biopharmaceutical sector mainly focuses on antibody-based drugs for treating complex disorders which has driven massive demand for antibody discovery services globally.
The Antibody Discovery Market is estimated to be valued at USD 2.8 Bn in 2024 and is expected to reach USD 6.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 12.3% from 2024 to 2031.
Key Takeaways
Key players operating in the Antibody Discovery market are WuXi Biologics,GenScript,Genmab,Harbour BioMed,ImmunoPrecise.. Genmab is a leader in developing next-generation antibody therapies for cancer treatment. Harbour BioMed and ImmunoPrecise also specialize in developing fully human therapeutic antibodies.
Growing demand: Increasing R&D expenditure on immunotherapy and rise of advanced services like monoclonal antibody development have fueled demand for antibody discovery. Growing target disease incidence including cancer is driving antibody drug development programs.
Global expansion: Key players are expanding discovery research capabilities across major markets to support the large antibody pipelines of pharmaceutical sponsors. Companies are also collaborating to advance antibody drug candidates and access different technologies for optimization of candidates.
Market Drivers
The key driver for the antibody discovery market is the rising R&D investment made by pharmaceutical and biotechnology companies in developing biologics. Average R&D spending on drugs by top pharmaceutical companies has increased from $8.5 billion in 2010 to $19.8 billion in 2020. Due to their high specificity and fewer side effects, monoclonal antibodies have emerged as an attractive therapeutic option compared to small molecule drugs. They are being explored for various critical illnesses; hence significant investment is being made to identify novel antibody candidates. This high R&D focus on biologics will continue promoting the antibody discovery services market in the coming years.
Geopolitical Impact on Antibody Discovery Market Growth
The current geopolitical situation is impacting the antibody discovery market in significant ways. Tensions between major nations are disrupting global supply chains for raw materials and reagents required for antibody research and development. Rising trade barriers have made it difficult for companies to access certain inputs from key exporting countries. This is hampering ongoing projects and delaying new product launches. Further, political instability and conflicts in various regions are limiting international collaborations between research institutes and companies. Scientific knowledge and resource sharing, which were fueling market innovations, have reduced amid the global uncertainties.
To ensure steady growth in such a volatile external environment, companies must diversify their supplier and research networks. While continuing important work with partners in strategically important countries, they will need to broaden collaborations with alternate regions as well. Building additional manufacturing and lab facilities across multiple geographic locations can boost supply resilience. Partnerships and joint ventures with local players in emerging markets also provide a hedge against geopolitical and trade risks. Overall, taking a multidimensional, globally integrated approach will help companies navigate the political challenges and drive the antibody discovery market forward over the coming decade.
Geographical Concentration in Antibody Discovery Market
In terms of value, the antibody discovery market is currently concentrated highly in North America and Western Europe. Together, these developed regions account for over 60% of the global market worth. This is because major market players and leading research organizations are headquartered here. Also, high healthcare expenditures allow for large investments in antibody R&D activities.
Fastest Growing Region in Antibody Discovery Market
Asia Pacific is poised to be the fastest growing region for the antibody discovery market during the forecast period. Factors such as rising academic-industry collaborations, increasing biotech investments, and growing expertise are supporting research expansion in countries like China, India, and South Korea. A large, treatable patient population is also attracting global players to set up facilities and test centers to tap into the region's long-term growth potential.
Get more insights on this topic https://www.trendingwebwire.com/antibody-discovery-market-is-estimated-to-witness-high-growth-owing-to-increasing-prevalence-of-chronic-diseases/
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
What Are The Key Data Covered In This Angio Suites Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Angio Suites's growth between 2024 and 2031.
:- Accurate calculation of the size of the Angio Suites and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Angio Suites Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Angio Suites vendors
FAQ’s
Q.1 What are the main factors influencing the Angio Suites?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Angio Suites companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Angio Suites’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it