Thermo Fisher Scientific, Inc. (US) and Merck KGaA (Germany) are Leading Players in the Custom Antibody Market
The custom antibody market is projected to reach USD 860 million by 2028 from USD 548 million in 2023, at a CAGR of 9.4% during the forecast period. The growth of this market is mainly driven by expanded use of antibody biomarkers identification and validation in diagnostics. Furthermore, increased R&D funding coupled with high investment by market players in custom antibody is likely to upsurge market growth in coming years.
The prominent players operating in the custom antibody market are Thermo Fisher Scientific Inc. (US), GenScript (China), Merck KGaA (Germany), Abcam (US), and Agilent Technologies, Inc. (US).
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Thermo Fisher Scientific (US)
Thermo Fisher Scientific (US) is one of the leading player in the custom antibody market in 2022. The company’s leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has adopted different growth strategies, such as deals that include agreements, acquisitions, and expansions, to maintain its leading position in the custom antibody market. Thermo Fisher Scientific caters to the life sciences industry’s needs by introducing new products and related services in the market. For example, in October 2022, the company acquired The Binding Site Group (“The Binding Site”), a global leader in specialty diagnostics.
Merck KGaA (Germany)
Merck KGAA is one of the leading player in the life sciences market. Geographically, the company has a footprint in 65 countries across the globe and is further expanding its network. The company has adopted growth strategies such as expansions & acquisitions and focusing on emerging markets to expand its presence in the custom antibody market. For instance, in December 2022, Merck KGaA collaborated with Kelun-Biotech to develop seven investigational preclinical antibody-drug conjugates (ADC) for the treatment of cancer.
Related Reports:
Custom Antibody Market by Service (Development, Purification, Labelling), Type (Monoclonal, Recombinant), Source (Rabbit, Mice), Application (Research, Therapeutics), Indication (Oncology, Immunology), End User (Biopharma, CROs) - Global Forecast to 2028
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