PUBLISHER: The Insight Partners | PRODUCT CODE: 1871506
PUBLISHER: The Insight Partners | PRODUCT CODE: 1871506
The Asia Pacific custom antibody services market is projected to grow significantly, reaching approximately USD 167.86 million by 2031, up from USD 68.24 million in 2023, with a compound annual growth rate (CAGR) of 11.9% during this period.
Executive Summary and Market Analysis
The Asia Pacific region is recognized as the fastest-growing market for custom antibody services globally. This market encompasses several countries, including China, Japan, India, South Korea, Australia, and other regions within Asia Pacific. Key drivers of growth in this market include an increasing geriatric population, a rise in chronic and infectious diseases, and a growing demand for advanced medical technologies. Additionally, collaborative efforts among market players to enhance the efficiency of custom antibody services, along with the rapid expansion of the pharmaceutical and biotechnology sectors, are propelling market growth.
Market Segmentation Analysis
The Asia Pacific custom antibody services market can be segmented based on product type, service type, application, disease indication, source, and end user:
Market Outlook
The approval of biosimilar products by the Food and Drug Administration (FDA) is expected to enhance patient care by providing more medication options at potentially lower costs. Recent approvals of biosimilars, such as Alymsys and Cimerli, highlight the growing trend in this area. The increasing number of biosimilars can lower treatment costs and improve access to biologic therapies, thereby driving the growth of the custom antibody services market.
Country Insights
The Asia Pacific custom antibody services market includes key countries such as Japan, China, India, South Korea, Australia, and others. China is the largest market in this region as of 2023. The country hosts numerous medical, pharmaceutical, and biotechnology companies, with over 300 medical CROs that utilize custom antibody services for developing specific antibodies for research and drug development. For instance, Bio-Thera Solutions, a Chinese biotech firm, received significant funding to advance its monoclonal antibody pipeline, which is crucial for various applications including drug discovery and diagnostics. Furthermore, partnerships like that of Sino Biological, Inc. with Rapid Novor, Inc. to market monoclonal antibody sequencing services indicate a growing trend towards collaboration in the industry.
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 various strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to their customers.
?
?