Middle East & Africa Custom Antibody Services Market

Middle East & Africa Custom Antibody Services Market Outlook

The increasing aging population, changing social behavior, and rising adoption of a sedentary lifestyle by people, along with accelerating urbanization, boost the prevalence of obesity and various chronic diseases. Also, twin studies have established that genes can cause chronic conditions such as cardiovascular disease (CVDs), diabetes, obesity, Alzheimer's disease (AD), and depression. In 2019, chronic diseases caused 74% of all deaths worldwide.

Cardiovascular diseases such as atherosclerosis, angina pectoris, and acute myocardial infarction, caused due to hectic lifestyles, are significant causes of mortality across the globe. As per the data provided by the WHO, CVDs are the leading cause of death worldwide, recording ~17.9 million deaths each year. Diabetes is a life-threatening chronic disease with no functional cure. Diabetes of all types can lead to various complications in the body and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are among the major complications associated with diabetes. 425 million people were suffering from diabetes in 2017, and the figure is expected to reach 629 million by 2045 worldwide; this is likely to boost the disease prevalence by ~35% during the forecast period.

Recognition of biosimilars and monoclonal antibodies as efficacious and safe agents by patients, specialists, primary care clinicians, and other healthcare professionals is propelling the demand for biosimilars. In addition, biosimilars help improve the quality of life for millions of patients while saving costs for the healthcare system per year. They are effective and cost-effective options in treating many diseases, including chronic skin conditions and bowel diseases, such as Crohn’s disease, psoriasis, irritable bowel syndrome, and colitis; diabetes; autoimmune disease; cancer; kidney conditions; and arthritis.

As the prevalence of chronic diseases is increasing at a high rate, the demand for custom antibodies to treat life-threatening illnesses has progressed rapidly over the past few years, which drives the custom antibody services market.

Middle East & Africa Custom Antibody Services Market Country Insights

Based on country, the Middle East & Africa custom antibody services market comprises Saudi Arabia, South Africa, the UAE and the Rest of Middle East & Africa. Saudi Arabia held the largest share in 2023.

Saudi Arabia has a rapidly growing healthcare system, which renders it one of the critical countries in the Middle East that experiences significant healthcare developments. It also shows a sharp increase in the health budget every year. According to a Gulf Cooperation Council report, Saudi Arabia spent a significant section of its annual budget on healthcare in 2021, i.e., ~16%; the country made the world's most critical healthcare infrastructure investments during 2010–2020. Growing healthcare infrastructure supports the custom antibody services market growth by fostering research and development (R&D), promoting personalized medicine, enhancing diagnostic capabilities, and generating the demand for innovative therapies.

Saudi Arabia has been experiencing an increase in the incidence of cancer; in turn, the number of deaths has also increased in the country. According to the study titled "Cancer Research Challenges and Potential Solutions in Saudi Arabia," published in January 2024, new cases are expected to increase from 27,885 in 2020 to 60,429 by 2040. The rise in the prevalence of chronic diseases, such as cancer, has propelled the need for precise diagnostics and therapeutics, wherein custom antibodies play a significant role. Researchers and pharmaceutical companies require specific antibodies to identify and target particular biomarkers associated with these diseases, resulting in a demand for custom antibody services.

Middle East & Africa Custom Antibody Services Market Company Profiles

Some of the key players operating in the market include Thermo Fisher Scientific Inc; Sino Biological Inc.; GenScript Biotech Corporation; Biochain Incorporated; R&D Systems, Inc; Kaneka Eurogentec S.A.; Fortis Life Sciences; Precision Antibody (A&G Pharmaceutical, Inc.; Biocytogen Pharmaceuticals Beijing Co Ltd; Abgenex; Creative Biolabs Inc; Agilent Technologies Inc; Bioklone; and Scantibodies Laboratory, Inc. among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Middle East & Africa Custom Antibody Services Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise