The global research antibodies market is expected to reach USD 5.33 Billion by 2027, according to a new report by Reports and Data. Rising research activities in the field of stem cells is a significant factor driving the growth of the market. Stem cells have the capability of discerning and regenerating various kinds of cells in the human body. These cells possess the potential to cure life-threatening diseases such as oncological and blood-related disorders. Cord blood stem cells find application in the treatment of more than 80 blood-related ailments, such as Sickle Cell Disease. It is projected that over 27 million babies across the globe are born with some kind of blood disorder. As per the World Health Organization, in 2008, 100,000 children were found to be suffering from thalassemia in India.
Increased funding for research and development activities is instrumental in driving the growth of the market. Investment in the healthcare R&D by the US has witnessed a growth of 18.1% between the years 2014 and 2017. In the year 2017, in the US, the overall expenditure on healthcare R&D was USD 182.30 billion. Besides, according to the 2016 financial statements of Celgene Corporation, a leading biopharmaceutical firm, the R&D expenditure grew by USD 772.8 million (21.0% more than 2015 expenses) in 2016 to USD 4.47 billion. Also, a USD 892.9 million of R&D asset acquisition spending, comprising a USD 625.0 million purchase of Engmab AG, a private firm engaged in T-cell bispecific antibodies, added to the overall R&D expenses of the Celgene.
However, cost-prohibitive research antibodies and issues related to the quality of nontherapeutic antibodies may create hindrances in the growth of the market in the upcoming years.
In April 2020, the ICMR (Indian Council of Medical Research) announced that it would fast-track funding proposals intended for immunology approaches for the treatment of coronavirus, a step to bridge the research gap in the country to combat the pandemic.
Further key findings from the report suggest:
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A surge in research activities in the field of neurobiology and stem cells is one of the significant factors influencing the market growth – Our Expert Opinion
Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
Becton, Dickinson and Company, Lonza Group, Agilent Technologies, Abcam PLC, PerkinElmer, Inc., Bio-Rad Laboratories, Merck Millipore, F.Hoffmann-La Roche AG, Thermo Fisher Scientific, and Cell Signaling Technology Inc., among others.
Research Antibodies Market Segmentation:
Product Outlook (Revenue, USD Million; 2017-2027)
Antibody Type Outlook (Revenue, USD Million; 2017-2027)
Technology Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
Frequently asked questions addressed in the report:
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