Middle East and Africa Custom Antibody Market is expected to reach US$ 25.0 Mn by 2028

Antibody Development Segment has the Largest Share of Service in the Middle East and Africa Custom Antibody Market during 2021–2028

According to The Insight Partners market research study on “Middle East and Africa Custom Antibody Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Service, Type, Source, Research Area, and End User,” is expected to reach US$ 25.0 million by 2028 from US$ 14.0 million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa custom antibody market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the high demand in research, market consolidations strategies adopted by biotechnology companies, and production and development services offered by custom antibody providers are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of production.

The pandemic has affected the research and development activities in these countries. Apart from this, a considerable population already faces a growing burden of non-communicable diseases, making them more vulnerable to the virus. Moreover, economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and have been unable to implement any public health measures. In addition, Iran was in a deep economic recession due to the US sanctions. These factors are expected to impact the growth of the market in the region negatively. In addition, the primary source of economic stabilization in Middle East countries is oil production and export. However, the current pandemic is creating turbulence in the economics of the Middle East region. An immediate drop in domestic and external demand for goods and products, primarily crude oil, and halted production due to labor deficiency are significant impacts observed in the region. Additionally, tightened financial condition is also decreasing the overall economic activities in the area. This uncertainty with average delays often associated with regulatory approvals in low- and middle-income countries is hindering the market's growth.

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.

Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Merck KGAA, Abcam, Genscript, and Agilent Technologies, Inc. are among the leading companies in the Middle East and Africa custom antibody market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in May 2020, Thermo Fisher Scientific has entered into collaboration with WuXi Diagnostics and the Mayo Clinic to develop ELISA test for detection of IgM and IgG antibodies to the novel coronavirus.

The report segments the Middle East and Africa Custom Antibody market as follows:

By Service

• Antibody Development
• Antibody Production and Purification
• Antibody Fragmentation and Labelling

By Type

• Monoclonal Antibodies
• Polyclonal Antibodies
• Other Custom Antibodies

By Source

• Mice
• Rabbits
• Others

By Research Area

• Oncology
• Immunology
• Stem Cells
• Infectious Diseases
• Neurobiology
• Cardiovascular Diseases
• Others

By End User

• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutes
• Contract Research Organizations

By Country

• Middle East and Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of Middle East and Africa