New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Recent developments in personalized therapy and the advantages of customized antibodies have been contributing to the growth of the global single domain antibody platforms market. The market was valued at US$ 23.8 Mn at the end of 2021 and is projected to expand at a high-value CAGR of 10.6% over the forecast period (2022-2032).
Single domain antibodies (sdAb) consist of a single monomeric variable antibody domain, and the use of sdAb is projected to increase significantly over the coming years owing to various factors such as technological advancements in antibody production, global agreements between leading research institutes to boost research activities in drug discovery and molecular biology, rising demand for immunotherapy, and advancements in analytical instruments.
Developing focus on R&D and increasing investments in research are anticipated to fuel revenue growth of the global single domain antibody platforms market going forward.
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For instance, GenScript Biotech Corporation’s R&D spending increased by 51.6% year-over-year to US$ 175.1 Mn in the first quarter of 2021. The non-cell therapy division spent around 10% of its turnover on GMP facility building and other infrastructure improvements.
Moreover, the cell therapy business invested US$ 154.5 Mn on research and development, up 52.1% year-over-year, with a focus on cilta-cel clinical trials and manufacturing facilities to support Johnson & Johnson’s ongoing clinical trials and future commercialization.
Demand for advanced preclinical screening procedures and drug therapy for cancer patients has increased massively due to developments in pharmaceutical therapies, especially customized therapies, owing to increasing awareness among physicians. This will immediately increase demand for single domain antibodies platforms and drive market development.
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Key Takeaways from Market Study
- By platform type, multi-specific single domain antibodies will hold over 31% market value share by the end of 2022.
- The camelids single domain antibody segment will dominate the global market with more than 91% share in 2022, under the animal source segment.
- By application, therapeutic development is expected to hold nearly 45% of global revenue share in 2022.
- Nearly 39% of the global market share will be captured by pharmaceutical and biotechnology companies in 2022.
- By region, North America is forecasted to be the leading region with a market share of around 37.2% in 2022.
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“Rising prevalence of cancer, surge in single domain antibody adoption in drug development, increasing demand for personalized medicines, and development of new cancer treatments are factors set to propel market growth,” says an analyst of Persistence Market Research.
Market Competition
Leading companies are striving to expand their product portfolios and increase their market position through acquisitions and distribution alliances
For instance:
- In February 2022, Rockland acquired antibodies-online GmbH to expand its capabilities and reach to serve scientists engaged in the delivery of complex therapies and critical diagnostics.
- In February 2019, Cellaria, LLC, a life science supplier and manufacturer that specializes in antibodies and antibody-based tools for research applications and assay development, announced a new distribution partnership with Rockland Immunochemicals, Inc.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the single domain antibody platforms market in its latest study, presenting a historical demand assessment of 2015 – 2021 and projections for 2022 – 2032.
The research study is based on the platform type (multi-specific single domain antibody, bispecific single domain antibody, multivalent single domain antibody, mono-specific single domain antibody), animal source (camelids {camels, llamas, alpacas}, sharks), application (diagnostic development, therapeutic development, research & developmental activities), and end user (diagnostic laboratories, clinical laboratories, academic & research institutes, pharmaceutical & biotechnology companies), across seven key regions of the world.
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