(EMAILWIRE.COM, November 18, 2021 ) According to the new market research report "Immunoprecipitation Market by Product (Kit, Reagent (Antibodies, Magnetic Buffer)), Type (Individual IP, CoImmunoprecipitation, CHIP), End User (Academics, Research Institutes, Pharmaceutical and Biotechnology Companies) - Global Forecast to 2024", published by MarketsandMarkets™, the market for Immunoprecipitation is expected to grow from USD 560 million in 2018 to USD 750 million by 2024, at a CAGR of 5.0% during the forecast period.

Major immunoprecipitation vendors include Thermo Fisher Scientific (US), Abcam (UK), Bio-Rad Laboratories (US), Merck KGaA (Germany), GenScript. (US), and BioLegend (US), Cell Signaling Technology (US), Rockland Immunochemicals (US), Takara Bio (Japan), and Geno Technology (US).

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The increasing number of research activities in the life sciences industry and the growing need to identify antigens associated with autoimmune diseases (through antigen-antibody interaction to understand disease mechanisms and develop relevant drugs targeting these diseases) are driving market growth.

The market in the Asia Pacific is growing at the highest CAGR during the forecast period.

The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Increasing investments by governments and industries, growing biotechnology research in these regions, and rising awareness about personalized therapeutics are expected to drive the growth of these markets during the forecast period.

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Recent Developments:
In 2018, Thermo Fisher Scientific opened its new bioprocess design center in Shanghai to connect and collaborate with biologic developers to design optimal bioprocessing solutions.
In 2018, Abcam entered into an agreement with Roche, a leading biotech company, under which Abcam obtained the exclusive rights to the product portfolio of Spring, which consists of 243 recombinant rabbit monoclonal antibodies and 500 additional antibody products.
In 2018, GenScript Biotech opened a contract development and manufacturing organization (CDMO) in Zhenjiang, China. This will help the company expand its presence in the Asia Pacific region.
In 2016, Thermo Fisher Scientific opened its new global headquarters at Waltham, Massachusetts, which helped the company connect its global hub to centers of excellence around the world for real-time collaboration serving scientific and healthcare communities.