The Antibody Library Technology Market will be worth US$ 100 Million at a CAGR of 4.4% from 2024. With interconnected ecosystems taking the center stage, advancements in technology are bound to bring about a digital alteration in the healthcare vertical. Also, bio-based medications are on the anvil.
Demand for antibody library technologies is expected to surge, as the arrival of advanced antibodies and their display technologies continue to reduce complexities of life science and biotechnology research.
Persistence Market Research (PMR), in its latest report, projects that the global antibody library technologies market revenue will increase at a CAGR of 4.4% between 2016 and 2024. Some of the latest antibody library design and selection methods enable easy identification of any MAB with any specificity, which is why pharmaceutical companies are increasingly making use of such technologies in their facilities.
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“Owing to the limitation and shortcomings of the conventional molecular display technologies, biomedical research organizations are now shifting towards new age display less’ technologies, capable of isolating antibodies up to subnanomolar affinities.” – Analyst, Persistence Market Research
Global Antibody Library Technologies: Key Market Trends
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Highlights of the Report Include
Phage display to remain as the predominant antibody library technology in 2017 and beyond. Moreover, constant technological advancement is expected to support its widespread adoption in the medium term. Phage display was the first in vitro technology developed for antibody selection and is extensively used by scientists all over the world. In 2016, sales revenue of phage display technology reached US$ 68.0 Million and is likely increase at 5% CAGR over 2024.
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Based on application, antibody library technologies are primarily used in drug discovery programs. Nearly US$ 81.3 Million worth antibody library technologies were purchased for drug development purposes in 2016. Meanwhile, biopharmaceutical companies remain the major end users of such technologies and are expected to create an incremental opportunity of US$ 44.Mn between 2016 and 2026 for the market.
Amongst all the key regions, the antibody library technologies market in North America accounted for a massive revenue share of 57.5% in 2015.
This is primarily due to the favorable government initiatives for development of cost-effective monoclonal antibodies in the US, which is driving the demand for antibody library technologies in the region. North America will continue to be most lucrative market over the forecast period followed by Europe and APAC.
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