In December 2022, Merck KGaA collaborated with Kelun-Biotech to develop seven investigational preclinical antibody-drug conjugates (ADC) for the treatment of cancer.
Northbrook, IL 60062 -- (SBWIRE) -- 03/20/2023 -- Custom Antibody Market worth $860 million by 2028, growing at a CAGR of 9.4% in the upcoming years.
Various elements such as rising research activities and funding investments for antibody developments, and the quality concerns over catalog antibodies & problems associated with them, are driving the market growth. However, the presence of alternatives to the antibodies is likely to hinder the growth of this market.
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Key Market Players
The prominent players operating in the custom antibody market are Thermo Fisher Scientific Inc. (US), GenScript (China), Merck KGaA (Germany), Abcam (US), and Agilent Technologies, Inc. (US).
Thermo Fisher Scientific (US)
Thermo Fisher Scientific (US) is one of the leading player in the custom antibody market in 2022. The company's leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has adopted different growth strategies, such as deals that include agreements, acquisitions, and expansions, to maintain its leading position in the custom antibody market. Thermo Fisher Scientific caters to the life sciences industry's needs by introducing new products and related services in the market. For example, in October 2022, the company acquired The Binding Site Group ("The Binding Site"), a global leader in specialty diagnostics.
Merck KGaA (Germany)
Merck KGAA is one of the leading player in the life sciences market. Geographically, the company has a footprint in 65 countries across the globe and is further expanding its network. The company has adopted growth strategies such as expansions & acquisitions and focusing on emerging markets to expand its presence in the custom antibody market. For instance, in December 2022, Merck KGaA collaborated with Kelun-Biotech to develop seven investigational preclinical antibody-drug conjugates (ADC) for the treatment of cancer.
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Asia Pacific is likely to grow at double digit growth rate during the forecast period.
The Asia Pacific region is estimated to grow at the highest CAGR in the custom antibody market during the forecast period, this is mainly due to factors such the rising investment in research & development, increased adoption of custom antibodies for various research and diagnostics purpose, emergence of new market players in custom antibody market.
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