Demand for antibody library technologies is expected to surge, as the arrival of advanced antibodies and their display technologies continue to reduce complexities of life science and biotechnology research.
New York, NY -- (SBWIRE) -- 06/09/2017 -- Persistence Market Research (PMR), in its latest report, projects that the global antibody library technologies market revenue will increase at a CAGR of 4.4% between 2016 and 2024. Some of the latest antibody library design and selection methods enable easy identification of any MAB with any specificity, which is why pharmaceutical companies are increasingly making use of such technologies in their facilities.
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"Owing to the limitation and shortcomings of the conventional molecular display technologies, medical research organizations are now shifting towards new age display less' technologies, capable of isolating antibodies up to subnanomolar affinities." – Analyst, Persistence Market Research
Global Antibody Library Technologies: Key Market Trends
As the market becomes more competitive, players aim to offer additional services complementary to antibody libraries, Consolidation between technology developers and drug development organizations in order to increase the consumer base has been identified as a prominent trend in the global market for antibody library technologies, Widespread adoption of cell-free display platform will persist throughout the forecast period, owing to the compact nature of such contemporary display platforms. For instance, the popularity of cell-free ribosome display technology has grown significantly amongst end-users in recent years.
Phage display to remain as the predominant antibody library technology in 2017 and beyond. Moreover, constant technological advancement is expected to support its widespread adoption in the medium term. Phage display was the first in vitro technology developed for antibody selection and is extensively used by scientists all over the world. In 2016, sales revenue of phage display technology reached US$ 68.0 Million and is likely increase at 5% CAGR over 2024. Based on application, antibody library technologies are primarily used in drug discovery programs. Nearly US$ 81.3 Million worth antibody library technologies were purchased for drug development purposes in 2016. Meanwhile, biopharmaceutical companies remain the major end users of such technologies and are expected to create an incremental opportunity of US$ 44.Mn between 2016 and 2026 for the market.
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Amongst all the key regions, the antibody library technologies market in North America accounted for a massive revenue share of 57.5% in 2015. This is primarily due to the favorable government initiatives for development of cost-effective monoclonal antibodies in the US, which is driving the demand for antibody library technologies in the region. North America will continue to be most lucrative market over the forecast period followed by Europe and APAC.
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Some of the leading companies profiled in the PMR report include MorphoSys AG, Dyax Corp., Abzena Plc., XOMA Corporation, AvantGen Inc., Creative-Biolabs, AbCheck s.r.o., Philogen S.p.A, Adimab LLC, Invenra Inc. AnaptysBio, Inc., Abwiz Bio Inc., Abgent Inc., Vaccinex Inc., and AxioMx Inc. Collaborations and cross-licensing have been key market strategies for many of these companies having operations across the globe.