Growing Demand for Personalized Medicine and Structure Based Drug Design Along With the Increasing Demand for Therapeutic Antibodies Is Set To Further Enhance the Overall Market Development of the Antibodies Market
Hyderabad, India - July 20, 2021 /MarketersMedia/ —
Antibodies Market size is forecast to reach $247.8 billion by 2026, growing at a CAGR of 12.3% during the forecast period 2021-2026. Antibodies are produced in response to antigens by plasma cells. It is also known as immunoglobin and are used as diagnostics as well as therapeutics purposes for various indications of diseases such as macular degeneration, crohn’s disease, psoriasis, and asthma among others. Antibodies are made by B cells and have the ability to bind themselves to specific molecules. It is also used to aid in the identification of molecules.
Antibodies Market Segment Analysis – By Product Type
Monoclonal Antibodies held the largest share in the Antibodies Market in 2020 and is estimated to grow at a CAGR 11.4% during the forecast period 2021-2026. This is attributed to the increasing number of research activities that required advanced genetic platforms and are used in development as well as discovery of new therapies to treat cancers. Monoclonal antibodies mimic the immune system’s ability and are laboratory made proteins which fight off harmful pathogens such as viruses. They offer stability, great affinity, and favorable storage techniques such as western blotting. Polyclonal antibodies is estimated to register the highest CAGR over the period 2021-2026.
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Antibodies Market Segment Analysis – By Technology
Western Blotting held the largest share in the Antibodies Market in 2020 and is estimated to grow at a CAGR 11.1% during the forecast period 2021-2026. This is attributed to the increasing prevalence of diseases with limited treatment options. Western blotting is preferred over other technologies such as flow cytometry for detection of HIV antibodies owing to the greater accuracy that it provides. Immunohistochemistry includes identification of antigens, tumor, enzymes, and tumor cell proliferation among others. Growing awareness among healthcare professionals and patients along with the rise in healthcare expenditure is increasing the demand of flow cytometry. Advantages such as high productivity and sensitivity is also the growth of the segment. Immunohistochemistry is estimated to register the highest CAGR over the period 2021-2026.
Antibodies Market Segment Analysis – By Geography
North America dominated the Antibodies Market with a major share of 39.7% in 2020. This is attributed to the growing research in the fields of proteomics & genomics, and presence of key players of biopharmaceuticals & biotechnology firms. Increasing prevalence of cardiovascular disease, increasing demand for antibodies for research reproductivity, government investments in improving healthcare expenditures, and increasing development activities to develop effective diagnostic therapy is increasing the growth of the market in this region. However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing number of research activities, improving healthcare infrastructure, and increasing pharmaceuticals investments.
Antibodies Market Drivers
Availability of Inexpensive Biosimilar Therapeutic Antibodies
Availability of inexpensive biosimilar therapeutic antibodies is increasing the growth of the Antibodies Market. This is attributed to the increasing treatment seeking rate and patient acceptance. A biosimilar of Remicade was approved by EU in 2013 and is now available all over the world. Recently, EU approved two biosimilar antibodies for rheumatoid antibodies and Novartis AG unlocked the huge market potential for RA in 28 member states of EU.
Growing Prevalence of Various Forms of Autoimmune Disorders
Growing prevalence of various forms of autoimmune disorders is increasing the growth of the Antibodies Market. Autoimmune disease attacks the healthy cells, organs, and tissues. It can affect any part of the body that weakens the body function and can turn out to be life threatening. These diseases have no cure and sometimes require lifelong treatment to ease the symptoms. Women gets autoimmune disorders at much faster rate than men.
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Antibodies Market Challenges
High cost of therapeutic antibodies and quality concerns along with the lack of reproducible results
Some of the factors that are set to impede the growth of the Antibodies Market are high cost of therapeutic antibodies and quality concerns along with the lack of reproducible results.
Antibodies Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Antibodies Market. In 2020, the Antibodies Market share is consolidated by the top ten players present in the market. The Antibodies Market, top 10 companies are Abbott Diagnostics, AG Scientific Inc, Bristol Myers Squibb, Novartis AG, Pfizer Inc., and Thermo Fisher Scientific Inc. among others.
Key Takeaways
North America dominated the Antibodies Market in 2020 owing to the development of structure based drug designs and increasing research in the fields of proteomics as well as in genomics. The Antibodies Market scope for different regions will be provided in the final report.
Increasing prevalence of chronic disease and increasing applications in oncology, neurobiology, cardiology, and autoimmunology are likely to aid the market growth of the Antibodies Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Antibodies Market report.
High cost of therapeutic antibodies and quality concerns along with the lack of reproducible results is poised to create the hurdles for the Antibodies Market.
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