by Research antibodies are protein components used to detect particular substances or groups in samples for detecting the presence of certain biological molecules like proteins or biochemical in medical research and development. Research antibodies find applications in various areas of research in life science including biochemistry, immunology and oncology. The global research antibodies market is estimated to be valued at US$ 3,785.5 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing research and development investments in antibody discovery is one of the key trends propelling the growth of the global research antibodies market over the forecast period. Pharmaceutical companies and research institutions are increasingly investing in research activities related to antibody discovery in order to develop novel therapeutics and diagnostics. For instance, according to the report by Pharmaceutical Research and Manufacturers of America (PhRMA), the research and development spending by the top 20 pharmaceutical companies in United States reached US$ 83 billion in 2021, an increase of around 12% over 2020. This high investment in R&D is expected to bolster the demand for research antibodies across various fields.
SWOT Analysis
Strength: The research antibodies market has strong growth opportunities in the pharmaceutical & biotechnology industries for drug discovery and development. Growing focus on personalized medicine and precision therapy is fueling the demand for research antibodies.
Weakness: High costs associated with production and development of research-grade antibodies. Long development cycles and stringent regulatory approval procedures also affect the market growth negatively.
Opportunity: Emerging markets in Asia Pacific and Latin America provide huge untapped growth opportunities for players. Increasing R&D investments by governments worldwide into developing novel therapeutics present favorable prospects.
Threats: Stringent regulations surrounding the production and usage of research antibodies. Risk of antibody clones becoming obsolete with technological advancements poses challenges.
Key Takeaways
The global Research Antibodies Market Share is expected to witness high growth in the forecast period of 2023 to 2030. The market size is projected to reach US$ 3785.5 Bn by 2030, expanding at a CAGR of 5.9%.
Regional analysis
North America is currently the dominant regional market for research antibodies due to large biopharmaceutical industry presence and significant R&D spending. The U.S. accounts for the major share in the region. Asia Pacific is poised to be the fastest growing market during the forecast period supported by increasing healthcare expenditure, improving biomanufacturing capabilities, and supportive government policies in countries like China and India.
Key players
Key players operating in the research antibodies market are Thermo Fisher Scientific Inc, Bio-rad Laboratories, Lonza Group, Merck Millipore, Cell Signalling Technology Inc., F.Hoffmann La Roche Ltd., Novartis AG, Takeda Pharmaceutical Company, Agilent Technologies, and Danaher Corporation. These companies are focusing on new product launches, expansions, and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
