Report : North America Custom Antibody Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Service (Antibody Development, Antibody Production and Purification, and Antibody Fragmentation and Labelling); Type (Monoclonal Antibodies, Polyclonal Antibodies, and Other Custom Antibodies); Source (Mice, Rabbits, and Others); Research Area (Oncology, Immunology, Stem Cells, Infectious Diseases, Neurobiology, Cardiovascular Diseases, and Others); End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Contract Research Organizations)
Antibody Development Segment has the Largest Share of Service in the North America Custom Antibody Market during 2021–2028
According to a new market research study on “North America Custom Antibody Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Service, Type, Source, Research Area, and End User,” is expected to reach US$ 374.3 million by 2028 from US$ 186.5 million in 2021. The market is estimated to grow at a CAGR of 10.5% from 2021 to 2028. The report provides trends prevailing in the North America custom antibody market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the high demand in research, market consolidations strategies adopted by biotechnology companies, and production and development services offered by custom antibody providers are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of production.
The approval of custom antibody services has expanded for the development of COVID-19 vaccines. The companies engaging in the custom antibody market, including Thermo Fisher Scientific (US) and Abcam plc (US), witnessed a negative impact on their services in early 2020 due to the temporary shutdown of their laboratories. However, as lockdown limitations were gradually lifted, research laboratories around the world started reopening. As a result, most service providers prioritized actions to promote the critical work of consumers included in COVID-19, such as giving a range of high-quality COVID-19 related research tools, reassigning R&D resources for producing essential products for SARS-Cov-2, expanding the supply chain, and making flexibility to support expanded demand for enduring products applied for SARS-CoV-2/COVID-19 research, and entering into discussions and collaborations across the UK, US, and China concentrated on SARS-CoV-2 diagnostics, drugs, and vaccines development. As per the reports of Abcam plc., the company witnessed 6.7% growth in the first half of 2021 compared to the same period in 2020. Custom Products & Licensing (CP&L) revenue has seen an increase of 15.9%. Additionally, Thermo Fisher Scientific observed 15.2% growth in the third quarter of 2020 compared to the same period in 2020. Considering these it can be declared that the impact of COVID-19 on the custom antibody market has been positive. Therefore, the COVID19 pandemic is expected to positively impact the custom antibody market.
The market for custom antibody market is segmented into service, type, source, research area, and end user. Based on service, the custom antibody market is segmented into antibody development, antibody production and purification, antibody fragmentation and labelling. In 2020, the antibody development segment held the largest share of the market, also the same segment is estimated to grow at a significant CAGR due to growing focus of researchers on high-quality custom antibodies for reproducibility during the forecast period.
Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Merck KGAA, Abcam, Genscript, Rockland Immunochemicals, Inc., Promab, Biolegend, Inc., Agilent Technologies, Inc., and Cell Signaling Technology, Inc. are among the leading companies in the North America custom antibody market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in May 2020, Thermo Fisher Scientific has entered into collaboration with WuXi Diagnostics and the Mayo Clinic to develop ELISA test for detection of IgM and IgG antibodies to the novel coronavirus.
The report segments the North America Custom Antibody market as follows:
- Antibody Development
- Antibody Production and Purification
- Antibody Fragmentation and Labelling
- Monoclonal Antibodies
- Polyclonal Antibodies
- Other Custom Antibodies
By Research Area
- Stem Cells
- Infectious Diseases
- Cardiovascular Diseases
By End User
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Contract Research Organizations
- North America
Contact Person: Sameer Joshi
Email Id: email@example.com