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The improved approval rate of therapeutic antibodies by regulatory authorities, patent expiry of blockbuster monoclonal antibodies, increasing adoption of targeted immunotherapy, and increased R&D expenditure of pharmaceutical and biotechnology companies are driving the overall antibody production market.
The increasing prevalence of infectious diseases and rising demand for protein therapeutics are expected to provide growth opportunities for players operating in this market.
Based on end users, the market is segmented into pharmaceutical and biotechnology companies, research institutes, and diagnostic laboratories.
The pharmaceutical and biotechnology companies segment is expected account for the largest share of the antibody production market and is estimated to register the highest CAGR.