PMR : Sales of Antibody Library Technology Market to Grow at Robust CAGR 4.4% During 2024

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 theglobalantibody library technologies marketrevenue will increase at aCAGR 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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Global Antibody Library Technologies: Key Market Trends

• As the market becomes more competitive, players aim to offer additional services complementary to antibody libraries.
• Consolidation between technology developers and drug development organizations in order to increase the consumer base has been identified as a prominent trend in the global market for antibody library technologies.
• Widespread adoption of cell-free display platform will persist throughout the forecast period, owing to the compact nature of such contemporary display platforms. For instance, the popularity of cell-free ribosome display technology has grown significantly amongst end-users in recent years.

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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 reachedUS$ 68.0 Millionand is likelyincrease 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 ofUS$ 44.Mnbetween 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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