Next-Generation Antibody Therapeutics Market Overview
The global next-generation antibody therapeutics market size is projected to reach $11.9 billion by 2020, growing at a CAGR of 44.0% during the forecast period. The market is growing due to increasing popularity of antibody-drug conjugate (ADC) and increasing number of collaborations for R&D in next-generation antibody therapeutics. In addition, growing prevalence of chronic diseases and increase in research and development investments by various organizations for production of improved products further encourages the growth of global next-generation antibody therapeutics industry.
Broadly, the global next-generation antibody therapeutics market is segmented into two therapeutic areas, oncology and autoimmune/inflammatory. The oncology segmented accounted for the largest market share in the historical period, it is further projected to hold a 70% market share by 2020. The autoimmune/inflammatory segment is expected to witness the fastest growth during the forecast period.
Based on technology, the next-generation antibody therapeutics market is segmented into antibody drug conjugates (ADCs), bispecific antibodies (BsAbs), Fc engineered antibodies, antibody fragments and antibody-like proteins (AF & ALPs), and biosimilar antibody (Ab) products. The ADCs segment held the largest market share in the historical period and is projected to hold a market share of over 50% by 2020. The Fc engineered antibodies segmented is projected to witness the fastest growth during the forecast period.
Geographically, North America dominates the next-generation antibody therapeutics market due to growing R&D activities and technological advancements in antibody therapeutics in the region. In addition, the increasing prevalence of chronic diseases and growing healthcare expenditure are fueling the growth of the next-generation antibody therapeutics market in North America. Moreover, the increasing healthcare expenditure is driving the market for next-generation antibody therapeutics in North America.
Next-Generation Antibody Therapeutics Market Dynamics
Increasing popularity of ADC technology is a major trend in the next-generation antibody therapeutics market. ADC technology brings together cytotoxic potential of chemotherapy and advantageous characteristics of antibodies, which results in increased specificity and maximized efficacy of ADCs. ADCs are manufactured by linking an anti-cancer drug, or another therapeutic agent to an antibody or antibody fragment. Because of high efficiency delivered by ADCs, biotechnology and pharmaceutical companies are focusing on the development of ADCs.
ADC technology is majorly used for the production of next-generation antibody therapeutics for the treatment of cancer. The unique combination of therapeutically active drug and a monoclonal antibody makes ADCs more specific and cytotoxic to cancer cells. ADCs provide targeted therapy with minimum side effects in patients. Various pharmaceutical companies, such as Seattle Genetics Inc., ImmunoGen Inc., F. Hoffmann-La Roche Ltd, and Bristol-Myers Squibb Company are actively involved in the development of next-generation antibody therapeutics using ADC technology.
The technological advancements in antibody therapeutics have led to the development of more efficient antibody therapeutics. This in turn, is driving the growth in the next-generation antibody therapeutics market. The use of advanced technology in antibody therapeutics, such as antibody-drug conjugate (ADC) technology, glycoengineered antibody technology, and bispecific antibodies (BsAbs) technology has resulted in the development of antibody therapeutics with improved characteristics.
ADCs are designed by linking a biologically active cytotoxic drug, with a monoclonal antibody to target tumor cells. As compared to traditional antibodies, ADCs are safer, and more effective in the treatment of cancer. Bispecific antibodies, with the help of recombinant technology are composed of two antibodies that target two different antigens. Bispecific antibodies are engineered to bind with cytotoxic and tumor cells for the treatment of cancer. The technologically advanced antibodies help to overcome limitations associated with monoclonal antibody therapeutics. This in turn, is boosting the growth of the next-generation antibody therapeutics market.
Next-Generation Antibody Therapeutics Market Competitive Landscape
The key players operating in the global next-generation antibody therapeutics market include Seattle Genetics Inc., F. Hoffmann-La Roche Ltd, ImmunoGen Inc., Pfizer Inc., Amgen Inc., Biogen, Kyowa Hakko Kirin Co. Ltd., Bristol-Myers Squibb Company, Xencor Inc., AstraZeneca PLC., Dyax Corp., Takeda Pharmaceuticals Company Limited and Bayer AG.