The global market for the next-generation antibody therapeutics market is poised to exhibit exponential growth by the end of 2024. The demand for these therapeutics is increasing at a rapid pace owing to their high efficiency and safety. Growing advancements in monoclonal antibody technology play a vital role in bolstering the market growth. The biosimilar antibody products are expected to gain traction as a leading technology in the coming years.
The growing investments in the healthcare sector across the globe during the COVID -19 pandemic is expected to propel the market ahead in the coming years. The market advancements are projected to be followed by revenue growth in the next 5 years. Led by the developing market in the US, North America is expected to acquire a significant position in the global market. The Asia Pacific is expected to exhibit fast-paced growth in the coming years on the back of the economic boom in the scaling economies such as China and India.
The global next-generation antibody therapeutics market comprises of different stakeholders from the pharmaceutical, biotechnology, and biopharmaceutical sectors. Established players in the global market include Kyowa Hakko Kirin Co., Ltd., ImmunoGen, Inc., ImmunoGen, Inc., Xencor, Inc., Biogen, and Seattle Genetics, Inc
Following the research on monoclonal antibodies, researchers have been taking efforts on discovery and development of next-generation antibody therapeutics, with an aim to attain improved, more efficient, easier to deliver, and safer antibody therapeutics. With medical world witnessing a host of chronic diseases, which need more efficient and effective treatments, the market for next-generation antibody therapeutics is thriving at a rapid pace. PMR indicates significant growth prospects for the global next-generation antibody therapeutics market, with the revenues expected to reach a value of US$ 6.76 Bn by 2022 end, up from US$ 2.25 Bn observed in 2015. The market will exhibit a stellar CAGR of 13.0% during the forecast period 2016-2022.
Key Market Dynamics
Massive success of the discovery and development of monoclonal antibodies initially provided a strong impetus to the development of next-generation antibody therapeutics. Researchers will continue to push the market with novel discoveries and therapeutic applications of next-generation antibodies. Rising prevalence of chronic disorders will also be a major factor fueling the demand for next-generation antibody therapeutics. Moreover, advent of technology supporting R&D activities is another key factor foreseen to accelerate the market growth in the next few years. Several governments are increasing funds and grants for research activities in the antibody therapeutics sector. This, coupled with increasing healthcare expenditure of developed as well as developing countries will also fuel the growth of the market during the forecast period. Monoclonal antibodies though highly efficient have certain limitations regarding safety and delivery. However, next-generation antibodies overcome all the restrictions faced by monoclonal antibodies and possess enhanced features of therapeutic antibodies. This will continue to provide a major boost to the market. A number of leading pharma, biopharma, and biotechnology companies are increasingly investing in development of next-gen therapeutic antibodies against autoimmune diseases, inflammatory disorders, and cancers. The forecast period will see a rapidly thriving market bolstered by these strong drivers. Rising use of antibody-drug conjugate (ADC) is currently trending in the market and will hold a positive impact on market growth.
Higher costs and strict regulatory measures may however remain the longstanding challenges that could hamper the growth of the market by 2022 end. Lengthy approval procedures have also been a major restraint to the rapid growth, which will continue to hold a negative impact.
The global next-generation antibody therapeutics market is classified on the basis of technology and application. By technology, the drug-antibody conjugates segment will continue to dominate over 2016-2022, whereas based on the therapeutic application, oncology will be the largest segment.
The global market for next-generation antibody therapeutics is geographically segmented into four key regions – North America, Europe, Asia, and rest of the world. North America has been the largest market, registering a value of US$ 1.1 Bn in 2015. By the end of 2022, the North American market will expand at a CAGR of 14.5%, reaching a value of US$ 3.69 Bn.
Key Players Analysis
The global market for next-gen therapeutic antibodies comprises a large number of pharmaceutical, biopharmaceutical, and biotechnology companies. Leading players are consistently active in terms R&D and manufacturing. Some of the most prominent players include ImmunoGen, Inc., Bayer AG, Biogen, Xencor, Inc., F. Hoffmann-La Roche Ltd., Kyowa Hakko Kirin Co., Ltd., Dyax Corp., Amgen, Inc., and Seattle Genetics, Inc.
Persistence Market Research recently published a report on the global next-generation antibody therapeutics market. This report analyzes the market condition over a six-year forecast period, 2016-2022. It is an extensive study of all the factors that are associated with the market and are likely to impact market growth over the aforementioned period. The study demonstrates market dynamics and trends across regions that are expected to influence the current status and future prospects of the global next-generation antibody therapeutics market.
The primary objective of the report is to offer information on market drivers, restraints, trends, opportunities, and value chain analysis. Moreover, it also updates on recent and upcoming developments in the global next-generation antibody therapeutics market. The report begins with an overview of the global next-generation antibody therapeutics market which includes market description, taxonomy, yearly growth rates, revenues, and forecast period. Thereafter, the report elaborates key trends, opportunities, drivers and restraints from the supply and demand perspectives.
The next section of the report segments the market on the basis of technology and application, and presents the forecast in terms of value for the next six years. Segmentation provides valuable insights into the largest and fastest growing segments of the market, drivers, opportunities, revenue shares, and growth prospects. Regional analysis discusses the historic, current, and estimated condition of each of the four key regional markets. In the final section, the market report offers a competitive landscape, including all the key companies operating in the global next-generation antibody therapeutics market.
To deduce market size, the report considered the growth of the market for therapeutic antibodies across geographies. Furthermore, data points such as regional split and market split by technology and therapeutic application are analyzed and qualitative inputs from primary respondents have been incorporated to arrive at suitable market estimates. The forecast presented in the report evaluates the total revenue that is expected to be generated across the global next-generation antibody therapeutics market over forecast period (2016–2022). When developing the market forecast, the starting point involved sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape during the forecast period. Given the characteristics of the market, PMR triangulated the data on the basis of various analysis based on both supply side and demand side.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and identify the right opportunities in the next-generation antibody therapeutics market.
As previously highlighted, the market for next-generation antibody therapeutics is split into various segments, on the basis of technology, application, and region. All these segments have been analyzed in terms of Basis Point Share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of many key trends in the global next-generation antibody therapeutics market
Another key feature of this report is the analysis of the next-generation antibody therapeutics market by deployment type, service type, organization, application, and region and its revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global next-generation antibody therapeutics market.
In order to understand key growth segments in terms of growth and performance of the next-generation antibody therapeutics market, PMR developed a market attractiveness index. The resulting index should help providers identify real market opportunities.
Some of the major players in the market:
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.