Middle East & Africa Custom Antibody Market Forecast to 2028 - COVID-19 Impact & Regional Analysis By Service ; Type ; Source ; Research Area ; End User

Middle East & Africa Custom Antibody Market Forecast to 2028 - COVID-19 Impact & Regional Analysis By Service ; Type ; Source ; Research Area ; End User

  • July 2021 •
  • 167 pages •
  • Report ID: 6134680 •
  • Format: PDF
The custom antibody market in Middle East and Africa is expected to grow from US$ 14.0 million in 2021 to US$ 25.0 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028. Growing support from governments, continuously changing disease profiles, rising public–private partnerships, and increasing funding activities are widely enhancing the performance of biotechnology industries in the Middle East and Africa. In addition, the countries in the emerging regions serve vital growth opportunities due to ever-increasing population, including geriatric populations. Heavy investments encourage the adoption of advanced technologies in the healthcare sector. Further, governments in countries in the Middle East and Africa offer tax incentives, cheaper land, incubators, and direct investment support to encourage the growth of domestic biotechnology companies, thereby allowing them to expand their abilities and capacities. Countries such as UAE, Saudi Arabia, Oman, Muscat, and Bahrain are among the most favorable destinations for the expansion of internationally operating biotechnology companies. Furthermore, the countries in this region are more focused on the using genomic, proteomics, next-generation sequencing, CRISPR technologies, and biomarkers in diagnostic and therapeutic applications. Such developments in the biotechnology industry are bolstering the demand for custom antibodies in the Middle East and Africa.
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.
The COVID-19 pandemic has affected the research and development activities in the Middle Eastern and African countries.A considerable percentage of population in these countries is already facing challenges due to huge burden of noncommunicable diseases, which makes these countries more vulnerable to the SARS-CoV-2 virus.

Moreover, economic uncertainties and ongoing political conflicts are worsening the conditions in the region.Countries such as Syria, Libya, and Yemen are suffering violent activities 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 have already been impacting the growth of any market related to the healthcare sector in the Middle East.

Further, oil production and export is the primary source of economic stabilization in the Middle Eastern countries. However, the ongoing pandemic is creating turbulence in the economics of the region. An immediate drop in domestic and external demand for goods and products, primarily crude oil, as well as halted production of the same due to labor deficiency are degrading the economies.
The overall Middle East and Africa custom antibody market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Middle East and Africa custom antibody market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Middle East and Africa Custom antibody market. Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Merck KGAA, Abcam, Genscript, and Agilent Technologies, Inc. are among a few players operating in the Middle East and Africa custom antibody market.

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