Antibody discovery plays a crucial role in developing effective therapeutic monoclonal antibody drugs for treatment of various diseases. Antibodies bind to specific molecular targets expressed on the surface of diseased cells and trigger an immune response against them. The antibody discovery process involves identification of antigen targets, generation of hybridomas, screening and selection of antibody candidates with desired properties. The global antibody discovery market is driven by growing use of monoclonal antibodies for treatment of cancers, autoimmune disorders and infectious diseases. Therapeutic monoclonal antibodies have revolutionized treatment strategies due to their high selectivity and favorable safety profiles.
The Antibody Discovery Market is estimated to be valued at USD 2.8 Bn in 2024 and is expected to reach USD 6.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 12.3% from 2024 to 2031.
Key Takeaways
Key players operating in the Antibody Discovery market are WuXi Biologics,GenScript,Genmab,Harbour BioMed,ImmunoPrecise.
The rising incidence of chronic diseases and growing need for effective targeted biologics are fueling demand for antibody drugs. Monoclonal antibodies have emerged as a major therapy for treatment of various cancers owing to their ability to precisely kill tumor cells.
Key market players are expanding their operations globally especially in Asia Pacific and Latin America to tap into new revenue streams. China and India provide strong growth opportunities owing to presence of large patient populations, low manufacturing costs and government support for development of biosimilars.
Market Key Trends
One of the key trends gaining traction in the antibody discovery market is the growing adoption of advanced in-silico modeling tools for virtual screening of combinatorial libraries. Computational tools help in predicting antibody-antigen interactions and shortlisting drug candidates with desired binding affinities early on during discovery stage. This helps accelerate the discovery process and reduce costs associated with wet-lab experiments.
Porter’s Analysis
Threat of new entrants: The antibody discovery market requires high capital investments and stringent regulations limiting new entrants.
Bargaining power of buyers: Large pharmaceutical companies have strong bargaining power over smaller suppliers in the antibody discovery market.
Bargaining power of suppliers: Few suppliers specializing in antibody discovery services enjoy strong bargaining power over pharmaceutical companies in need of such services.
Threat of new substitutes: Due to specificity and affinity requirements, there are limited substitutes for antibodies in targeted therapeutics limiting this threat.
Competitive rivalry: The antibody discovery market witnesses intense competition among key players to develop innovative techniques and acquire smaller players to gain market share.
Geographically, North America currently holds the largest share of the antibody discovery market value owing to presence of major pharmaceutical companies and growing research activities in the region. The United States alone accounts for over 40% revenue share.
The Asia Pacific region is poised to exhibit the fastest growth over the forecast period in the global antibody discovery market boosted by increasing R&D investments, lower operating costs and growing focus of major players to tap opportunities in emerging economies like China and India. The expanding biologics industry will further support market growth in Asia Pacific.
What Are The Key Data Covered In This Angio Suites Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Angio Suites’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Angio Suites and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Angio Suites Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Angio Suites vendors
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it