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The global research antibodies market is one of the fastest growing industries today. Research antibodies are antibodies produced in laboratories to serve diverse diagnostic and research applications. These products are vital tools for understanding disease processes at the molecular level and facilitating drug discovery. They are used extensively across various domains including neuroscience, immunology, oncology, cardiology and infectious diseases. With increasing government focus on healthcare R&D and investment in medical innovation, the demand for research antibodies has surged in recent years.
The global Research Antibodies Market is estimated to be valued at US$ 4.5 billion in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023-2024, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the research antibodies market is the rising preference for monoclonal antibodies over polyclonal antibodies. While polyclonal antibodies can identify multiple epitopes on an antigen, monoclonal antibodies are highly reproducible, specific and uniform. They provide consistent results and are preferred for standardized research procedures. Advancements in hybridoma technology have simplified the production of monoclonal antibodies. Several market players are focusing on developing technique such as phage display to generate humanized monoclonal antibodies with high affinity and specificity for robust target validation processes. This shift towards monoclonal antibodies for research applications is expected to significantly drive revenue growth of the global research antibodies market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the research antibodies market due to high capital requirements, established customer base of existing players and availability of patents.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of alternative suppliers and standardized products. Buyers can easily switch between suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is medium as a large number of raw material suppliers are present. However, switching costs are high for buyers due to validation requirements.
Threat of new substitutes: There is no threat of new substitutes as research antibodies have applications across various industries and no close alternative products exist.
Competitive rivalry: The competitive rivalry in the market is high due to presence of key global and regional players offering similar product profiles. Players focus on service differentiation and innovation to gain higher shares.
Key Takeaways
The global research antibodies market is expected to witness high growth over the forecast period.
North America dominates the market currently due to presence of major companies and high R&D spending. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing research activities in countries like China and India.
Key players operating in the research antibodies market are Thermo Fisher Scientific, Merck Group, Abcam PLC, Becton, Dickinson and Company, Cell Signaling Technology, Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd. and Agilent Technologies. Players focus on expanding their product portfolios through acquisitions and new product launches.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
