Dublin, Ireland -- (SBWire) -- 09/22/2017 --Demand for antibodies is anticipated to remain steady across the globe in the foreseeable future. Rising occurrence of chronic diseases such as diabetes, cancer, and autoimmune conditions is prompting drug makers to shift their focus on further improvement of antibody-based products. Moreover, increasing prevalence of epidemic diseases as well as rising popularity of protein therapeutics is reflecting favourably on antibody-based drug sales worldwide. In developed regions such as North America and Europe demand for antibody-based medicines is projected to remain steady over the next couple of years. On the other hand, increasing availability of alternative therapeutics is likely to make a negative impact on the growth of the global antibodies market. In addition, factors such as unaffordability and risk of side effects associated with antibody products are likely underwhelm the future prospects of the overall market. The recent study conducted by Fact. MR projects that global market for antibodies will cross a valuation of US$ 3,000 Mn by 2022-end, registering a moderate CAGR during the forecast period (2017-2022).
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Forecast Highlights on Global Market for Antibodies
In terms of revenue, North America currently holds the predominant share of the global market for antibodies and the region is expected to retain its top position over 2022. Further, the North America's market is anticipated to expand at steady CAGR between 2017 and 2022. This is primarily owing to the existence of an advanced healthcare infrastructure and prominent market participants in the region.
Based on product type, demand for primary antibodies is significantly high. Global sales of primary antibodies currently account for the largest revenue share of the market. More than US$ 1,000 Mn worth primary antibodies is estimated to be sold worldwide by the end of the forecast period.
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On the basis of end user, the academic & research institutes segment is expected to remain highly attractive throughout the assessment period. In terms of revenue, the segment currently commands for more than one-third share of the global market. Towards the end of 2022, this segment is anticipated surpass a valuation of US$ 1,286 Mn, registering a steady growth.
On the basis of application, the basic research segment currently hold the top position. In addition, the basic research segment is estimated to command for a significant revenue share of the market in 2017 and beyond. By the end of 2022, the segment is expected to cross a market valuation of US$ 1,741 Mn, representing a CAGR of over 3%. Antibodies are used for various research purposes, especially for diagnostics and development of new drugs. Using antibodies drug developers determine the resistance level of various indigents.
Competition Tracking
Thermo Fisher Scientific, Inc., Sigma Aldrich Corp, Bio-Rad Laboratories, Inc., Abcam Plc, Crown Bioscience, Inc., A.M.S. Biotechnology (Europe) Limited, Cell Signaling Technology, and Genscript Biotech Corporation are among the top companies functioning in the global market for antibodies.
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Antibodies Market Will Account for Around US$ 3,000 Mn by 2022
The recent study conducted by Fact. MR projects that global market for registering a moderate CAGR during the forecast period (2017-2022).