Nov 28, 2023

News provided by Share this article Share toX The global antibody contract manufacturing market is set to experience significant growth, with a compound annual growth rate (CAGR) of 14.82% from 2022 to 2023, and reaching $12.84 billion in 2023. Furthermore, the market is projected to expand to $21.79 billion by 2027 at a CAGR of 14.13%. Key Market Drivers: The primary driver of growth in the antibody contract manufacturing market is the increasing number of clinical trials. Clinical trials play a crucial role in evaluating the safety and efficacy of new medical treatments and diagnostic procedures. With the rising number of clinical trials involving antibody-based therapeutics and diagnostics, the demand for high-quality antibodies for timely and compliant supply in clinical trials is on the rise. Clinical Trials on the Rise: According to data from ClinicalTrials.gov, the number of registered clinical trial studies increased significantly from 399,499 in 2022 to 437,533 in 2023. Moreover, approximately 53% of these studies were registered outside the United States, indicating the global nature of clinical trials. The surge in clinical trials is contributing to the growth of the antibody contract manufacturing market. Technological Advancements: Technological advancements are a notable trend in the antibody contract manufacturing market. Leading companies in the market are adopting new technologies to maintain their competitive edge. For instance, Merck KGaA introduced ChetoSensar, an innovative technology addressing solubility challenges in antibody-drug conjugates (ADCs). Such advancements enhance the effectiveness of high-potency active pharmaceutical ingredients (HPAPIs) by improving solubility, thus driving market growth. Regional Market Insights: North America was the largest region in the antibody contract manufacturing market in 2022. Asia-Pacific is expected to exhibit the fastest growth in the coming years, highlighting the region's potential for market expansion. Key Players: Major players in the antibody contract manufacturing market include AbbVie Inc., Thermo Fisher Scientific Inc., Lonza Group AG, and many others. These companies are actively involved in technological innovations and business strategies to maintain their market positions. The report covers various aspects of the antibody contract manufacturing market, including product types (monoclonal antibodies, polyclonal antibodies, and others), source (mammalian and microbial), scale of operation (preclinical, clinical, and commercial), end-users (biopharmaceutical companies, research laboratories, and others), and geographical regions (Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa). In conclusion, the antibody contract manufacturing market is experiencing robust growth due to the increasing number of clinical trials and technological advancements. North America currently leads the market, but Asia-Pacific is poised for rapid growth. Major players in the market continue to innovate and expand their presence, ensuring a competitive landscape. Company Profiles: