The global next-generation antibody therapeutics market is driven by the development of the antibody technology and the initiatives taken by various governments to encourage the use of these technologies. The global market is expected to expand at a CAGR of 13% between 2014 and 2022 and reach a value of US$2,250.0 million by 2015 and US$6,761.1 million by 2022.
Increase in Uptake of Therapeutic Antibodies Propelling Growth of Global Next-Generation Antibody Therapeutics Market
The rising prevalence several chronic diseases, development of innovative drugs, increase in the uptake of therapeutic antibodies, and increasing number of R&D activities to develop new therapies are the major factors propelling the global next-generation antibody therapeutics market. Along with these, the rise in the demand for better medical and healthcare facilities and the rapid increment in engineered and biosimilar antibodies are likely to create growth opportunities for the participants in the global next-generation antibody therapeutics market.
On the other hand, various stringent rules and regulations imposed on the usage of antibodies by several governments, high cost of the R&D activities, and the preference of older generation drug therapies are major issues faced by the next-generation antibody therapeutics market across the globe.
ADCs and Oncology: Leading Segments of Global Next-Generation Antibody Therapeutics Market
Based on technology, the global next-generation antibody therapeutics market is classified into the markets for engineered antibodies, antibody fragments and antibody-like proteins, antibody-drug conjugates (ADCs), bispecific antibodies (bisAbs), and biosimilar antibody products. Among these, the ADCs market dominates the global next-generation antibody therapeutics market.
Based on therapeutic application, next-generation antibody therapeutics market is categorized into the markets for oncology and inflammatory/autoimmune diseases, wherein, the market for oncology leads the overall next-generation antibody therapeutics market.
North America Dominates the Next-Generation Antibody Therapeutics Regional Market
The global next-generation antibody therapeutics market is spread across North America, Europe, Asia, and the Rest of the World. Of these, North America dominates the global industry. Analysts expect the market to expand at a CAGR of 14.5% from 2014 to 2022 and reach US$1,104.4 million by 2015 and US$3,691.8 million by 2022, respectively.
Rapid economic developments in emerging Asian nations, such as India and China, are expected to trigger the next-generation antibody therapeutics market in this region. In addition, the development in antibody technologies coupled with continuous enhancement in therapeutic antibody and the rising prevalence of various diseases are likely to propel the market in this region.
Global Next-Generation Antibody Therapeutics Market: Key Players
The increasing number of partnerships and mergers and acquisitions is the latest trends in the global next-generation antibody therapeutics market. Major companies are also focused toward launching new products exhibiting advanced technologies. F. Hoffmann-La Roche Ltd., Seattle Genetics Inc., Kyowa Hakko Kirin Co. Ltd., ImmunoGen Inc., Pfizer Inc., Bristol-Myers Squibb Co., Amgen Inc., Bayer AG, Biogen, Xencor Inc., AstraZeneca, Takeda Pharmaceuticals Co. Ltd., and Dyax Corp. are the major players operating in the global next-generation antibody therapeutics market.
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