Antibody library technology is a technique used for generating a large number of antibodies for therapeutic and diagnostic purposes. The technology allows the screening of millions of different antibody variants to identify the ones that bind to a specific target. The global antibody library technology market is driven by factors such as the increasing prevalence of chronic diseases, the growing demand for targeted therapies, and the rising investment in R&D activities.
Market Size and Growth:
Worldwide revenue from the antibody library technology market stands at US$ 153.3 Mn in 2022, with the global market estimated to surge ahead at a CAGR of 4.0% to reach a valuation of US$ 235.5 Mn by the end of 2033. As assessed by Persistence Market Research, phage display are expected to hold a market value of US$ 87.0 Mn by 2023. Overall, antibody library technology market sales account for approximately 0.11% revenue share in the global antibodies market, which was valued at around US$ 145.7 Bn in 2022.
The global market for antibody library technology recorded a historic CAGR of 2.9% in the last 8 years from 2015 to 2022.
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Market Segmentation:
The antibody library technology market can be segmented based on type, application, and end-user. By type, the market can be segmented into phage display, ribosome display, yeast display, and others. By application, the market can be segmented into therapeutics and diagnostics. The therapeutics segment can be further sub-segmented into cancer, autoimmune diseases, infectious diseases, and others. The diagnostics segment can be further sub-segmented into immunoassays and flow cytometry. By end-user, the market can be segmented into biopharmaceutical companies, academic and research institutes, and contract research organizations.
Geographical Analysis:
The antibody library technology market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to account for the largest share of the market during the forecast period, due to the presence of a large number of biopharmaceutical companies and research institutes, the increasing prevalence of chronic diseases, and the growing investment in R&D activities. The market in the Asia Pacific region is also expected to grow at a significant rate, due to the increasing demand for targeted therapies and the rising investment in R&D activities.
Competitive Landscape:
The antibody library technology market is highly competitive, with several global and regional players operating in the market. Some of the major players operating in the market include Thermo Fisher Scientific Inc., Merck KGaA, F. Hoffmann-La Roche Ltd, Creative Biolabs, Abzena plc, Bio-Rad Laboratories, Inc., Ligand Pharmaceuticals, Inc., Xencor, Inc., AnaptysBio, Inc., and MorphoSys AG. These players are focusing on product launches, partnerships, and collaborations to expand their market share in the region.
Conclusion:
The global antibody library technology market is expected to grow at a significant rate during the forecast period, driven by the increasing prevalence of chronic diseases, the growing demand for targeted therapies, and the rising investment in R&D activities. The market is highly competitive, with several global and regional players operating in the market. The major players operating in the market are focusing on product launches, partnerships, and collaborations to expand their market share in the region.