The global research antibodies & reagents market is projected to generate USD 18.7 billion revenue by 2030, advancing at a CAGR of 6.7% during 2024–2030. The rise in the demand for high-quality antibodies for repeatable research is propelling the market's expansion. The growth of the proteomics and genomics research domains essentially contributes in this advance. Furthermore, the market is influenced by the growth in the stem cell and neurobiology research realms, collaborations between the industry and the academia, and global unmet medical needs.
Moreover, the industry is primarily driven by the growth in the funding for research projects from for-profit and non-profit organizations, rise in the focus on biomarker development, and increase in outsourcing. Additionally, the rising need for protein-based treatments and personalized medicines is creating new market opportunities. Seeing the growth potential, Thermo Fisher Scientific Inc. acquired PPD in 2021 to add PPD's premier clinical research services to its value proposition for clients in the pharmaceutical and biotechnology industries.
The rising prevalence of neurodegenerative diseases, such as amyotrophic lateral sclerosis and Lewy body disease, is boosting research aimed at gaining a better understanding of such diseases. Additionally, the geriatric population is growing rapidly and displaying a rising prevalence of chronic diseases. Thus, due to the lack of remedies for many chronic diseases, there is a growing need for research antibodies to develop personalized medications, effective pharmaceutical drugs, and better treatments.
Collaborations between academic institutions and the R&D departments of companies are key to driving research and innovation. These partnerships guarantee the movement of knowledge and technology from the academic world to the business world and vice versa. The number of such collaborations has greatly increased as a result of the escalating economic volatility and the enhancement of the technological landscape. Market participants are working with academic institutions to raise awareness of new analytical technologies among students and researchers due to the numerous applications of research-specific antibodies and reagents.
On the basis of application, proteomics held the largest share, of around 40%, in 2023, and it is expected to grow at a robust CAGR during the review period. This is because of the need for higher efficiency when mapping drug–protein and protein–protein interactions. Additionally, proteomic technologies are rather effective and have reduced the cost, time, and resource requirement for drug manufacturing and biological testing.
Other essential factors driving the growth of this category include the surge in proteomic research, the rise in the demand for protein therapeutics and personalized medicine, and the increase in the public- and private-sector spending on proteomic research.
By form, the monoclonal antibodies category accounts for the largest share in the global research antibodies & reagents market, propelled by a sharp increase in the number of cancer research projects, which demand antibodies with high specificity. The efficacy of monoclonal antibodies in adhering to or blocking antigens on cancer cells plays a crucial role in identifying and developing new medicines for diverse cancer types.
Geographically, APAC is expected to showcase the highest CAGR over the forecast period. This is due to an increase in the investment by both domestic and foreign biotechnology and healthcare businesses in the region, a large pool of patients suffering from chronic and infectious diseases, growth in the government support for healthcare research, and enhancement of healthcare facilities in the developing countries in the region, primarily India, China, and those in the Southeast.
Some of the major market players are Thermo Fisher Scientific Inc., Merck KGaA, Abcam plc, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Bio-Rad Laboratories Inc., Teva Pharmaceutical Industries Limited, Eli Lily and Company, and Agilent Technologies Inc.