At 9.7% CAGR, South & Central America Custom Antibody Services Market is Projected to be Worth US$ 49.87 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the South & Central America custom antibody services market was valued at US$ 23.73 million in 2023 and is expected to reach US$ 49.87 million by 2031, registering a CAGR of 9.7% from 2023 to 2031. Rise in government research and development activities in emerging and developed economies and technological advancements using recombinant antibodies are among the critical factors attributed to the South & Central America custom antibody services market expansion.

Governments of emerging countries are launching several research and development initiatives focusing on genomics and proteomic methods. South America is advancing in genomics research through initiatives such as Chile's Millennium Science Initiative, which provides funding for institutes and programs in both natural and social sciences. Another important effort is the Virtual Institute for Integrative Biology (VIIB), a Latin American initiative that fosters collaborative e-Science in bioinformatics and genomics. These programs receive support from government bodies and aim to improve research capabilities and infrastructure across the region. Therefore, the rise in research and development initiatives by governments of various developing economies is expected to create lucrative opportunities for the growth of the custom antibody services market during the forecast period.

On the contrary, high costs and complexities associated with antibody production using transgenic animals hamper the growth of South & Central America custom antibody services market.

Based on product type, the South & Central America custom antibody services market is segmented into monoclonal, polyclonal hybridoma, recombinant antibody, and others. The monoclonal segment held 48.7% share of the South & Central America custom antibody services market in 2023, amassing US$ 11.57 million. It is projected to garner US$ 23.71 million by 2031 to expand at 9.4% CAGR during 2023-2031.

Based on service type, the South & Central America custom antibody services market is segmented into antibody discovery and development, antibody production services, and others. The antibody discovery and development segment held 61.1% share of the South & Central America custom antibody services market in 2023, amassing US$ 14.51 million. It is projected to garner US$ 30.89 million by 2031 to expand at 9.9% CAGR during 2023-2031.

Based on application, the South & Central America custom antibody services market is segmented into immunohistochemistry, western blot & IP, ELISA, fluorescence-activated cell sorting, mass spectrometry, and others. The ELISA segment held 39.8% share of the South & Central America custom antibody services market in 2023, amassing US$ 9.46 million. It is projected to garner US$ 19.48 million by 2031 to expand at 9.5% CAGR during 2023-2031.

Based on disease indication, the South & Central America custom antibody services market is segmented into oncology, infectious diseases, immunology, cardiovascular diseases, and others. The oncology segment held 47.0% share of the South & Central America custom antibody services market in 2023, amassing US$ 11.15 million. It is projected to garner US$ 24.07 million by 2031 to expand at 10.1% CAGR during 2023-2031.

Based on source, the South & Central America custom antibody services market is segmented into chicken, rabbits, rats, guinea pigs, mouse or humanized mice, and others. The mouse or humanized mice segment held 38.6% share of the South & Central America custom antibody services market in 2023, amassing US$ 9.15 million. It is projected to garner US$ 18.72 million by 2031 to expand at 9.4% CAGR during 2023-2031. The mouse or humanized mice segment is further sub segmented into monoclonal antibody platform, BsAB discovery platform, bispecific ADC platform, TCR-mimic antibody platform, Anti-GPCR antibody technology platform, and others.

Based on end user, the South & Central America custom antibody services market is segmented into life science industry, pharmaceutical & biotech companies, academic & research institutes, and contract research organizations. The life science industry segment held 33.8% share of the South & Central America custom antibody services market in 2023, amassing US$ 8.01 million. It is projected to garner US$ 16.23 million by 2031 to expand at 9.2% CAGR during 2023-2031.

Based on country, the South & Central America custom antibody services market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 52.7% share of South & Central America custom antibody services market in 2023, amassing US$ 12.51 million. It is projected to garner US$ 26.68 million by 2031 to expand at 9.9% CAGR during 2023-2031.

Key players operating in the custom antibody services market are Thermo Fisher Scientific Inc; Sino Biological Inc.; GenScript Biotech Corporation; Biochain Incorporated; R&D Systems, Inc; Kaneka Eurogentec S.A.; Fortis Life Sciences; Precision Antibody (A&G Pharmaceutical, Inc.; Biocytogen Pharmaceuticals Beijing Co Ltd; Abgenex; Creative Biolabs Inc; Agilent Technologies Inc; Bioklone; and Scantibodies Laboratory, Inc. among others.

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