The global Research Antibodies Market is estimated to be valued at US$ 3785.5 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Research antibodies are widely used in drug discovery, proteomics research, genomics, and diagnostics, among various research applications. They are indispensable tools for biochemical analysis and can identify specific proteins in complex sample mixtures. The bioavailability and efficacy of research antibodies allow detection of biological markers with high specificity and sensitivity. Various advantages of research antibodies over alternative detection methods include high target specificity, low non-specific binding, and their ability to recognize native antigenic structures in situ. The growing biotechnology sector and rising focus on personalized medicine has increased the need for research antibodies to aid in disease research and new drug development.
Market key trends:
One of the key trends in the research antibodies market is the growing focus on developing monoclonal antibodies. Monoclonal antibodies have superior consistency, specificity, and affinity compared to polyclonal antibodies. Manufacturers are investing in monoclonal research antibodies to cater to the growing demand from end-users. For example, Thermo Fisher Scientific introduced a range of recombinant monoclonal antibodies for cancer research applications in 2019. Additionally, the expansion of proteomics and genomics research is driving the demand for high specificity research antibodies. Mass spectrometry-based proteomics applications require research antibodies that can detect low abundance proteins in complex samples. Leading players are focusing on developing highly specific antibodies suitable for advanced proteomics techniques to gain a competitive edge.
Threat of new entrants: The research antibodies market requires huge capital investments and established distribution networks, making the threat of new entrants moderate.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of a variety of product options from key manufacturers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to fewer alternatives available for raw materials.
Threat of new substitutes: New antibody production technologies like phage display have posed a moderate threat as substitutes.
Competitive rivalry: The market experiences high competitive rivalry due to the presence of several global and regional players.
Global Research Antibodies Market Size is expected to reach US$ 5,785.5 Bn by 2030, expanding at a CAGR of 5.9% during the forecast period. Factors such as increasing research funding and rising prevalence of chronic and infectious diseases are expected to drive the growth.
North America dominates the global research antibodies market, owing to the high funding for R&D activities and presence of leading market players in the region. The North America market accounted for over 35% of the global market share in 2023 and is expected to retain its dominance over the forecast period.
Europe is the second-largest market for research antibodies globally. Increasing validation of antibody-based therapeutic molecules and investments in life sciences research are some of the factors aiding growth in Europe. The Europe market is projected to expand at a CAGR of around 5% through 2030.
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, Danaher Corporation, BioLegend Inc., Illumina, Phoenix Pharmaceuticals, Abcam plc. These players are focusing on new product launches and mergers & acquisitions to strengthen their presence globally.