June 29, 2020 17:00 ET | Source: Reports and Data

New York, June 29, 2020 (GLOBE NEWSWIRE) -- The globalresearch antibodies marketis expected to reach USD 5.33 Billion by 2027, according to a new report by Reports and Data. Rising research activities in the field of stem cells is a significant factor driving the growth of the market. Stem cells have the capability of discerning and regenerating various kinds of cells in the human body. These cells possess the potential to cure life-threatening diseases such as oncological and blood-related disorders. Cord blood stem cells find application in the treatment of more than 80 blood-related ailments, such as Sickle Cell Disease. It is projected that over 27 million babies across the globe are born with some kind of blood disorder. As per the World Health Organization, in 2008, 100,000 children were found to be suffering from thalassemia in India.

Increased funding for research and development activities is instrumental in driving the growth of the market. Investment in the healthcare R&D by the US has witnessed a growth of 18.1% between the years 2014 and 2017. In the year 2017, in the US, the overall expenditure on healthcare R&D was USD 182.30 billion. Besides, according to the 2016 financial statements of Celgene Corporation, a leading biopharmaceutical firm, the R&D expenditure grew by USD 772.8 million (21.0% more than 2015 expenses) in 2016 to USD 4.47 billion. Also, a USD 892.9 million of R&D asset acquisition spending, comprising a USD 625.0 million purchase of Engmab AG, a private firm engaged in T-cell bispecific antibodies, added to the overall R&D expenses of the Celgene.

However, cost-prohibitive research antibodies and issues related to the quality of nontherapeutic antibodies may create hindrances in the growth of the market in the upcoming years.

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COVID-19 Impact As the global economies are experiencing the negative impact of the Covid-19 pandemic, organizations are suffering losses, among various other challenges. Nevertheless, firms in the pharmaceutical industry are of immense importance in combatting the pandemic and are witnessing positive growth in the contagious disease landscape with the race for treatment approval therapy gaining momentum.

In April 2020, the ICMR (Indian Council of Medical Research) announced that it would fast-track funding proposals intended for immunology approaches for the treatment of coronavirus, a step to bridge the research gap in the country to combat the pandemic.

Further key findings from the report suggest

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For the purpose of this report, Reports and Data have segmented the global research antibodies market on the basis of product, antibody type, technology, application, end-users, and region:

ProductOutlook (Revenue, USD Million; 2017-2027)

Antibody TypeOutlook (Revenue, USD Million; 2017-2027)

TechnologyOutlook (Revenue, USD Million; 2017-2027)

ApplicationOutlook (Revenue, USD Million; 2017-2027)

Industry VerticalOutlook (Revenue, USD Million; 2017-2027)

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/research-antibodies-market

Regional Outlook (Revenue, USD Million; 2017-2027)

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Research Antibodies Market To Reach USD 5.33 Billion By 2027 | Reports and Data - GlobeNewswire