PUBLISHER: The Insight Partners | PRODUCT CODE: 1871504
PUBLISHER: The Insight Partners | PRODUCT CODE: 1871504
The North America custom antibody services market is projected to grow significantly, reaching approximately US$ 577.76 million by 2031, up from US$ 287.49 million in 2023, with an estimated compound annual growth rate (CAGR) of 9.1% from 2023 to 2031.
Executive Summary and Market Analysis
The custom antibody services market in North America is divided into three main regions: the United States, Canada, and Mexico. Several factors are driving the growth of this market, including the increasing adoption of advanced technologies, rising investments in drug discovery and development, strong government support for clinical research, and a surge in research activities in clinical diagnostics. Additionally, collaborations between government bodies and market players are promoting the use of custom antibodies in clinical diagnostics. The growing number of cancer and genomic research initiatives in the US and Canada, along with a focus on developing antibody-based therapeutics, are also contributing to market expansion. The demand for high-quality research tools to ensure data reproducibility further supports the growth of the custom antibody services market in North America.
Market Segmentation Analysis
The North America custom antibody services market can be segmented based on product type, service type, application, disease indication, source, and end user:
Market Outlook
The FDA plays a crucial role in approving biosimilar products, which enhances patient care by providing more medication options at potentially lower costs. Recent approvals of biosimilars, such as Alymsys and Cimerli, have been significant in expanding treatment options. The increasing number of biosimilars approved by the FDA is expected to drive the growth of the custom antibody services market, as they can lower treatment costs and improve access to biologic therapies.
Country Insights
The North American custom antibody services market is primarily driven by the US, which accounted for the largest share in 2023. The rising incidence of infectious, chronic, and autoimmune diseases in the US is increasing the demand for custom antibody services. Cancer remains a leading cause of death, with over 1.9 million new cases diagnosed in 2022, and projections suggest around 2.0 million new diagnoses in 2024. Custom antibodies are essential in cancer treatment for detecting tumor-specific antigens and monitoring patient progress. The US market benefits from increased R&D efforts and the growing use of custom antibodies across various research fields, including oncology and immunology.
Company Profiles
Key players in the custom antibody services 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, Biocytogen Pharmaceuticals, Abgenex, Creative Biolabs, Agilent Technologies, Bioklone, and Scantibodies Laboratory, Inc. These companies are employing strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to their customers.