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Research Antibodies Market Is Estimated To Witness High Growth Owing To The Increasing Demand For Antibodies In Drug Discovery And Development

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Poonam
Research Antibodies Market Is Estimated To Witness High Growth Owing To The Increasing Demand For Antibodies In Drug Discovery And Development

Research antibodies play a crucial role in numerous areas like proteomics, drug discovery, bioengineering, in vitro diagnostics and many more. They are extensively used in biotechnology and pharmaceutical industries for various applications including ELISA, Western blot, immunohistochemistry, immunofluorescence and others. The application of research antibodies aids in understanding molecular pathways, toxic effects of chemicals and effectiveness of developed drugs. The global research antibodies Market is estimated to be valued at US$ 3,785.5 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The increasing demand for antibodies in drug discovery and development is one the major opportunities driving the growth of the research antibodies market. Research antibodies act as an imperative tool in the drug development process. They help in target identification and validation, assessing toxicity and determining the mechanism of action of developed drugs. Pharmaceutical companies are extensively investing in R&D activities to develop novel biologics and targeted therapies for various diseases. This rising focus on developing innovative drug candidates is increasing the demand for research antibodies to aid various stages of drug development like target identification, lead optimization etc. Further, with technological advancements, a variety of research antibodies with high specificity and affinity are being developed which provides improved reagents for drug development research, thereby fueling the market growth over the forecast period.

Porter's Analysis

Threat of new entrants: The research antibodies market requires large R&D investments and regulatory approvals which increases the entry barrier for new players.

Bargaining power of buyers: The presence of many national and international players provides buyers with better bargaining power and choice.

Bargaining power of suppliers: Due to the specialized nature of research antibodies, suppliers enjoy relatively higher bargaining power over manufacturers.

Threat of new substitutes: There exists a low threat of substitution as research antibodies have few product substitutes and switching costs are high.

Competitive rivalry: The market is highly competitive with companies competing on the basis of antibody specificity, production process, and pricing.

SWOT Analysis

Strengths: Rising R&D spending on drug discovery and precision medicine has increased the demand for research antibodies.

Weaknesses: Production of research-grade antibodies requires lengthy development timelines and high capital investments posing challenges.

Opportunities: Untapped growth prospects in Asian markets offer lucrative opportunities for players. Emerging areas like stem cell research will augment future demands.

Threats: Stringent regulatory norms and approvals delay product launches. Fluctuations in commodity prices threaten manufacturers' margins.

Key Takeaways

The global Research Antibodies Market Growth is expected to witness high growth over the forecast period.

Regional analysis: The North America region currently holds the highest share of the research antibodies market owing to presence of major players and developed healthcare infrastructure which supports early adoption of advanced technologies.

Key players: Key players operating in the research antibodies market are Zoetis Inc., Elanco Animal Health, MSD Animal Health, Benchmark Holdings, Phibro Animal Health Corporation, Intervet Inc., Norvartis, Merck Animal Health, Novartis AG, Pharmaq AS.

For more insights, read- https://www.newsanalyticspro.com/research-antibodies-market-trends-size-and-share-analysis-2/

 


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