The global next-generation antibody therapeutics market is thriving due the remarkable nature of antibodies and the wonders they do for our immune system. Over the years, researchers have delved deeper into the functioning of these targeted proteins that keep evolving in our bodies to prevent diseases. The foundation, growth, and expansion of the global next-generation antibody therapeutics market are attributable to the remarkable work of Paul Ehrlich’s dream of making “magic bullet” medicines a reality. Paul Ehrlich was a German scientist whose tremendous work on immunity and development of immunization has given the world of modern medicine next-generation antibody therapeutics.
The field of medicine began using antibodies after a Nobel prize-winning breakthrough in the 1970s. This finding became the cornerstone for producing antibodies on a large scale. By the 1980s the FDA had approved the first ever therapeutic antibodies, giving an impetus for the development of therapeutic antibodies for cancer. From this moment on, there has been no looking back for the global next-generation antibody therapeutics market.
The tremendous amount of research and investment in the field of next-generation antibody therapeutics has helped modern medicine develop innovative approaches towards treating and managing several chronic diseases. Simply put, next-generation antibody therapeutics are a way of treating the same diseases that have plagued humans for centuries with improved or customized medicines.
Technological Advancements Drive Global Next-Generation Antibody Therapeutics Market
Several biotechnology and pharmaceutical companies develop next-generation antibody therapeutics in special clinics designed for dealing with particular diseases. Modern therapeutic antibodies are being developed with enhanced features such as higher selectivity and better efficacy. Some of the key growth drivers for the global next-generation antibody therapeutics market are technological advancements such as the success of monoclonal antibody (MAb) and antibody-derived therapeutics, increasing demand for biological drugs for the treatment of various chronic diseases, and antibody drug conjugates (ADCs).
Crucial Components of Global Next-Generation Antibody Therapeutics Market
The global next-generation antibody therapeutics market is segmented on the basis of technology, platform, and therapeutic area. Technology segmentation breaks down into bispecific antibodies (bisAbs), antibody-drug conjugates (ADCs), biosimilar antibody products, engineered antibodies, antibody fragments, and antibody-like proteins. Platform-wise, this market is inclusive of xencor, BioWa, and Glycart. In terms of therapeutic area, the next-generation antibody therapeutics market is divided into sub-segments such as ocular disorders, haemostasis, oncology, autoimmune/inflammatory, various infectious diseases, and others. Geographically, the global next-generation antibody therapeutics market is segmented into North America, Asia Pacific, Europe, and Rest of the World.
North America Leads Global Next-Generation Antibody Therapeutics Market
North America holds the biggest market share in the global next-generation antibody therapeutics market, with Europe following closely. The factors supporting the mammoth market share held by these regions are technological advancements in antibody therapies, growing number of research and development activities in drug development, increasing expenditure on healthcare, and proactive government initiatives. However, in the coming few years Asia Pacific is projected to drive the next-generation antibody therapeutics market to new heights due to growing cases of chronic diseases, growth of ably equipped healthcare facilities, impetus to research and development activities, and encouragement to new antibody technologies in the region.
The global next-generation antibody therapeutics market faces some tough challenges such as stringent regulatory framework, high capital investments, long research and development durations, and preference of older-generation drug therapies. However, some of the greater opportunities for key players in the global next-generation antibody therapeutics market are the strengthening economies in countries such as India and China, shifting demographics, investments in research and development, and encouragement to medical experiments.
Some of the key players in the global next-generation antibody therapeutics market are F. Hoffmann-La Roche Ltd, ImmunoGen, Kyowa Hakko Kirin, Seattle Genetics, Bristol-Myers Squibb, MedImmune, and BioWa, Bayer, Amgen, Biogen Idec, Pfizer, and Xencor.
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