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Custom Antibody Market is Expected to Reach $860 million | MarketsandMarkets.
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Chicago, April 19, 2023 (GLOBE NEWSWIRE) — The custom antibody industry is expected to experience significant growth in the near future. This is due to the increasing demand for custom antibodies for research and diagnostic purposes. The need for custom antibodies is expected to continue to grow as more research is conducted and new diagnostic techniques are developed. The cost of custom antibodies is also likely to decrease as the industry matures and new technologies are developed. Additionally, the increasing use of artificial intelligence in the development of custom antibodies is also likely to drive industry growth. The use of AI-based solutions can help reduce costs and improve the accuracy of the antibodies. Finally, the increasing popularity of personalized medicine is likely to drive the demand for custom antibodies, as they can be tailored to the individual needs of patients. All of these trends are likely to lead to an increase in the size of the custom antibody industry in the near future.
Custom Antibody market in terms of revenue was estimated to be worth $548 million in 2023 and is poised to reach $860 million by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Increasing use of custom antibody in precision medicine, rising research activities and funding for antibody development for custom antibody are some of the major factors propelling the growth of this market. However, the presence of alternative antibodies is likely to hamper the growth of custom antibody market.
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Custom Antibody Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $548 million |
Estimated Value by 2028 | $860 million |
Growth Rate | Poised to grow at a CAGR of 9.4% |
Market Size Available for | 2021-2028 |
Forecast Period | 2023–2028 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Service, Type, Source, Application, Indication, End User, and Region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunity | Emerging markets |
Key Market Drivers | Increased Funding is likely to upsurge the market growth |
Based on service, the custom antibody market is broadly segmented into antibody development, antibody production & purification, and antibody labeling. In 2022, antibody development segment accounted for the largest share. The dominance of the segment is attributable to the increasing focus of researchers on high-quality antibodies for reproducibility, which can be hampered by using commercially available antibodies.
Based on type, the custom antibody market is segmented into monoclonal antibodies, polyclonal antibodies, recombinant antibodies, and others. In 2022, monoclonal antibodies segment accounted for the largest share of custom antibody market. Factors such as the high specificity and selectivity offered by monoclonal antibodies compared to other antibodies are driving the segmental growth.
The global custom antibody market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, North America dominated the custom antibody market followed by Europe and Asia Pacific respectively. Asia Pacific region is likely to grow at a faster pace during the forecast period of 2023-2028. The factors attributable to the faster growth rate are increasing investment in antibody development owing to the higher adoption of custom antibody in various applications. The overall share of this region in the global market is gradually increasing, owing to growth in research activities and therapeutic antibody development. High-growth regions such as China, Japan, India, and South korea are expected to be major contributors to the Asia-Pacific custom antibody market.
Key Market Players:
Key market players operating in custom antibody market players are Thermo Fisher Scientific (US), Merck KGaA (Germany), Agilent Technologies (US), GenScript (China), Abcam plc. (UK), Cell Signaling Technology (US), Bio-Rad Laboratories, Inc (US), and Rockland Immunochemicals, Inc (US).
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Hypothetic Challenges of Custom Antibody Market in Near Future:
- Increasing competition: With the development of the custom antibody market, the competition among vendors and suppliers is expected to increase significantly. This could lead to lower prices and make it more difficult for small and medium-sized companies to compete.
- Quality control: Quality control is one of the major challenges facing the custom antibody market. Since custom antibodies are produced in a laboratory environment, there can be a lack of standardization and consistency in the quality of the antibodies produced.
- Cost: The cost of custom antibodies is often high due to the complexity of the process and the cost of the raw materials. This could make it difficult for customers to justify the cost of the product.
- Shortages: The demand for custom antibodies is expected to increase in the near future, but the supply is limited. This could lead to shortages and make it difficult for customers to find the antibodies they need.
- Regulations: Regulatory agencies are increasingly imposing stricter regulations on the custom antibody market. This could lead to higher costs and make it difficult for vendors and suppliers to operate.
Top 3 Use Cases of Custom Antibody Market:
- Disease Diagnostics: Custom antibodies are often used in the diagnosis of various diseases such as cancer, infections, autoimmune conditions, and metabolic disorders. They can be used for detection and quantification of proteins, as well as for identifying the presence of specific antigens.
- Drug Development: Custom antibodies are essential components in the development of new drugs. They are used to identify, characterize, and validate new drug targets, as well as to improve existing drugs.
- Research & Development: Custom antibodies are a key tool in basic research and drug discovery. They are used to study the structure and function of proteins, as well as to analyze gene expression, cellular pathways, and post-translational modifications.
Recent Developments:
- In December 2022, Merck KGaA collaborated with Kelun-Biotech to develop seven investigational preclinical antibody-drug conjugates (ADC) for the treatment of cancer.
- In October 2022, Thermo Fisher Scientific acquired The Binding Site Group (“The Binding Site”), a global leader in specialty diagnostics.
- In July 2022, Bio-Techne acquired Namocell to expand its product portfolio, to include gene therapy development and commercialization, cell engineering, cell line development, single cell genomics, and antibody discovery.
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Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors
BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.
The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development.
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference.
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
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CGTN: China honors individuals with highest awards in celebration of 75th National Day
BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.
The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
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Kazakhstan Government Delegation Visited SUPCON
HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.
The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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