by Research antibodies are laboratory tools used in biomedical research and drug development for detection, purification, analysis and quantification of biomolecules. They play a crucial role for detection of biomarkers, drug screening and validation of disease targets. Rising pharmaceutical research & development expenditures on new drug discovery have significantly boosted demand for research antibodies. Increasing funds pumped into life science research from government and private funding agencies have further augmented market growth.
The global Research Antibodies Market is estimated to be valued at US$ 3785.05 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 key trends:
Monoclonal antibodies have emerged as the most important category owing to their specificity and uniform quality. Researchers are focusing on developing fully human recombinant monoclonal antibodies to reduce immunogenicity issues. Growing demand for these antibodies for therapeutic applications is a major trend. Custom antibody service providers have also increased significantly to cater growing research needs. With technological advancements, antibody engineering and monoclonal antibody production are witnessing innovations which will pave way for development of more specific and robust tools in future.
Porter’s Analysis
Threat of new entrants: The Global Research Antibodies Market Size requires high investments in R&D, distribution networks and manufacturing facilities which pose high entry barriers for new players.
Bargaining power of buyers: The presence of established key players in the market reduces the bargaining power of buyers. However, availability of substitute products provides some bargaining power to buyers.
Bargaining power of suppliers: The availability of alternative raw material suppliers gives bargaining power to suppliers in the market.
Threat of new substitutes: Increase in availability of biosimilars and alternatives to monoclonal antibodies poses threat of substitution.
Competitive rivalry: The global research antibodies market is highly competitive due to presence of major international players. Price wars and new product launches characterize the industry rivalry.
Key Takeaways
The global research antibodies market size is expected to witness high growth. North America is currently the dominating region in the research antibodies market owing to increasing R&D expenditure and high demand for advanced research technologies.
Regional analysis: North America is anticipated to hold the largest share in the global research antibodies market during the forecast period. This is attributed to factors such as supportive government regulations, high healthcare expenditure, and presence of key market players in the region. Asia Pacific is projected to exhibit the fastest growth rate during the analysis period due to emergence of regional research centers and increasing investment by international players.
Key players: Key players operating in the research antibodies market are Zoetis Inc., Elanco Animal Health, MSD Animal Health, Benchmark Holdings, Phibro Animal Health Corporation, and Novartis AG. These companies mainly focus on new product launches and acquisitions to gain competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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