Next-Generation Antibody Therapeutics Market Overview
The global next-generation antibody therapeutics market is expected to generate revenue of $11.9 billion by 2020, progressing at a CAGR of 44.0% during the forecast period (2015 to 2020). Major factors responsible for the growth of the market include technological advancements, rising prevalence of cancer, and increasing collaborations among market players for the development of next-generation antibody therapeutics. Moreover, improving life sciences research infrastructure, increasing applications of such therapies, and government support for related research are playing a pivotal role in the growth of the market.
On the basis of technology, the next-generation antibody therapeutics market is categorized into Fc engineered antibodies, antibody drug conjugates (ADCs), biosimilar antibody (Ab) products, antibody fragments and antibody-like proteins (AF & ALPs), and bispecific antibodies (BsAbs). Of these, the ADCs category is expected to hold the largest share, accounting for over 50% revenue, in the market in 2020, and the Fc engineered antibodies category is expected to witness the fastest growth during the forecast period.
Based on therapeutic area, the next-generation antibody therapeutics market is classified into autoimmune/inflammatory and oncology. The oncology category is expected to contribute around 70% revenue to the market in 2020, and the autoimmune/inflammatory category is expected to register higher CAGR during 2015–2020.
Geographically, North America leads the next-generation antibody therapeutics market. This can primarily be attributed to increased antibody-based research activities, rising cases of chronic health disorders, well-developed life sciences research infrastructure, and strong presence of established players in the region.
Next-Generation Antibody Therapeutics Market Dynamics
The ADC technology is gaining traction in the next-generation antibody therapeutics market. The cytotoxic nature of antibodies is considered to have a potential benefit in chemotherapy. This property is expressed and regulated by the ADC technology for improved efficacy and increased specificity. Owing to the high efficiency delivered by ADCs, pharmaceutical and biotechnology firms across the world are increasingly focusing on the development of ADCs.
Cancer is one of the major application areas of the ADC technology-based next-generation antibody therapeutics. Several pharma companies, including Bristol-Myers Squibb Company, Seattle Genetics Inc., and F. Hoffmann-La Roche AG, are therefore engaged in the development of next-generation antibody therapeutics that are based on the ADC technology.
Technological advancements can be viewed as one of the key drivers for the next-generation antibody therapeutics market. For instance, the development of glycoengineered antibody, BsAbs, and ADC technologies has widened the application area of antibody therapeutics.
ADCs are considered safer and more effective than traditional antibodies for the treatment of cancer, as these are prepared by combining a monoclonal antibody and a biologically active cytotoxic drug to target tumor cells. This also helps overcome the challenge of limited application of monoclonal antibody therapeutics. Thus, advancements in technology leading to product innovation have positively affected the growth of the next-generation antibody therapeutics market.
Next-Generation Antibody Therapeutics Market Competitive Landscape
Some of the major companies operating in the global next-generation antibody therapeutics market are Bayer AG, F. Hoffmann-La Roche AG, Pfizer Inc., Biogen Inc., Bristol-Myers Squibb Company, AstraZeneca PLC, Kyowa Hakko Kirin Co. Ltd., Dyax Corp., Amgen Inc., Takeda Pharmaceuticals Company Limited, ImmunoGen Inc., Xencor Inc., and Seattle Genetics Inc.