Asia Pacific Custom Antibody Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Service (Antibody Development, Antibody Production and Purification, and Antibody Fragmentation and Labelling); Type (Monoclonal Antibodies, Polyclonal Antibod

Asia Pacific Custom Antibody Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Service (Antibody Development, Antibody Production and Purification, and Antibody Fragmentation and Labelling); Type (Monoclonal Antibodies, Polyclonal Antibodies, and Other Custom Antibodies); Source (Mice, Rabbits, and Others); Research Area (Oncology, Immunology, Stem Cells, Infectious Diseases, Neurobiology, Cardiovascular Diseases, and Others); End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Contract Research Organizations)

The custom antibody market in Asia Pacific is expected to grow from US$ 82.3 million in 2021 to US$ 174.8 million by 2028; it is estimated to grow at a CAGR of 11.4% from 2021 to 2028. Growing support from governments, continuously changing disease profiles, rising public–private partnerships, and increasing funding activities are enhancing the performance of biotechnology industries in Asia Pacific. In addition, the countries in the emerging regions serve vital growth opportunities due to ever-increasing population, including geriatric populations. Further, heavy investments encourage the adoption of advanced technologies in the healthcare sector in the region. According to the Organisation for Economic Co-operation and Development (OECD), in 2019, China was a frontrunner in terms of R&D expenditure. Further, governments in Asia Pacific countries offer tax incentives, cheaper land, incubators, and direct investment support to encourage the growth of domestic biotechnology companies, thereby allowing them to expand their abilities and capacities. Countries such as Malaysia, Taiwan, Singapore, India, China, and Japan are among the most favorable destinations for the global biotechnology industry. Furthermore, the Asian countries are more focused on the using genomic, proteomics, next-generation sequencing, CRISPR technologies, and biomarkers for diagnostic and therapeutic applications. Therefore, such enhancements in the biotechnology industry are bolster the demand for custom antibodies in the region.

The market for custom antibody market is segmented into service, type, source, research area, and end user. Based on service, the custom antibody market is segmented into antibody development, antibody production and purification, antibody fragmentation and labelling. In 2020, the antibody development segment held the largest share of the market, also the same segment is estimated to grow at a significant CAGR due to growing focus of researchers on high-quality custom antibodies for reproducibility during the forecast period.

Countries in the Asia Pacific are encountering challenges due to continuously rising cases of COVID-19. The COVID-19 pandemic has put a significant strain on the health systems of many countries in the region. Many Asia Pacific economies has limited and of low-quality testing capacities in the initial phase of the pandemic, which led to a rapid surge in the COVID-19 cases in these countries. India has reported the second-highest number of COVID-19 cases in the world, after the US. The supply chain disruptions due to restrictions on transportation as well as enormous demand for effective diagnostic and therapeutic products have put the healthcare research industry in a critical situation in Asia Pacific. However, countries such as South Korea, Japan, and Singapore managed to efficiently control the situation through robust tracking and testing. Moreover, many market players have now realized the importance of antibody testing for COVID-19, which is expected to raise demand for custom antibodies in Asia Pacific during the forecast period.

The overall Asia Pacific custom antibody market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific custom antibody market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific Custom antibody market. Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Merck KGAA, Abcam, Genscript, Agilent Technologies, Inc., and Cell Signaling Technology, Inc. are among a few players operating in the Asia Pacific custom antibody market.

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