NEW YORK, Feb. 1, 2021 /PRNewswire/ -- Antibody library technology provides an in vitro method for the generation of highly specific, recombinant, humanized or fully human monoclonal antibodies, which can be used for desired target screening. The arrival of advanced antibodies and their display technologies to reduce complexities of biotechnology and life science research is anticipated to surge demand for antibody library technologies.
Rising prevalence of several types of cancers and increased need for immunotherapy are driving antibody library technology usage. For instance, according to WHO in 2028, global cancer burden increased to 18.1 Mn, and 9.6 Mn people died due to cancer in 2018. Development of technologically advanced antibody libraries is expected to supplement global antibody library technology demand in the future. For instance, in October 2019, Y-Biologics collaborated Pascal Biosciences Inc. to discover and develop different novel bio-specific antibodies. Furthermore, emergence of COVID-19 is expected to drive market growth in the short term. The market is expected to cross a valuation of US$ 200 Mn over the next ten years.
Key Takeaways of Antibody Library Technologies Market Study
- Based on technology, phage display technology is the most profitable, and holds around half the market value share. This is due to its ability of cross-species binding, high potency, and specificity.
- In terms of application, drug discovery and development is the leading segment, and is expected to expand at a CAGR of over 4.2% through 2030. Rising prevalence of cancer and rare disease is anticipated to increase the use of antibody libraries technologies in the early stage of drug discovery and development of various immunotherapies.
- During the COVID-19 pandemic, many manufactures in Europe realized their potential for revenue growth and took the opportunity to launch various antibody libraries.
- Among the end users, biopharmaceutical companies hold close to half of the market share. These companies are major manufacturers of antibody libraries due to their advantage in the drug discovery process.
- North America holds close to 60% share of the global market, with the U.S. a major played in the region.
- Europe is the second-largest market for antibody library technologies, with the U.K. and Germany accounting for half of this regional market.
- The global antibody library technology market progressed at 2.6% CAGR over the last 5 years. Growth is expected to accelerate to over 4% through 2030.
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"Technological advancements, need for therapeutic antibodies, R&D stimulus through favourable government policies, and current demand for monoclonal antibodies are factors expected to boost growth of the global antibody library technology market. The COVID-19 pandemic has boosted growth due to increase in demand for antibody drug discovery and development," says an analyst at Persistence Market Research.
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Trends Influencing Market Growth
Rising prevalence of rare diseases and increasing awareness about immunotherapy in developed countries such as the U.S. and U.K. are seen to surge antibody library technologies market growth. Adoption of cell-free display platforms over traditional display technologies is driving demand. Owing to the compact nature of cell-free display platforms, such as the ribosome display system for antibody libraries, majority of companies are switching to this new display method over the well-known phage display system. Moreover, ribosome display can create comparatively huge libraries of up to 1014 as compared to the 109 magnitudes of traditional phage display libraries.
Expansion of Manufacturing Capabilities & New Product Launches - Key Strategies amongst Market Players
Key players in the antibody library technology market are directed toward growing their manufacturing capabilities to expand the size of antibody libraries. The COVID-19 pandemic scenario has encouraged many manufacturers to focus on the development of antibodies, and thus, expand their market presence.
For instance, in January 2020, Adimab LLC extended its partnership with Novo Nordisk related to the Adimab Platform license agreement, aiming at the discovery and optimization of antibody-based protein therapeutics.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the antibody library technology market in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030, based on technology (phage display, ribosome display, yeast display, and mammalian cell surface display), application (Research applications, drug discovery & development, and others), and end user (academic & research institutes, biopharmaceutical companies, and contract research organization), across seven key regions.
Browse Research Release at: https://www.persistencemarketresearch.com/market-research/antibody-library-technology-market.asp
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