The global next-generation antibody therapeutics market generated revenue worth $1.3 billion in 2014 and is expected to advance at a CAGR of 44.0% during the forecast period. Rising incidence of chronic diseases, advancements in technology, and increasing expenditure on research for the development of advanced antibody therapeutics are some of the key factors propelling the market growth.
Besides, several initiatives have been taken by government organizations of various countries for improving healthcare infrastructure and promoting research in the field. Such initiatives are further supporting the research and development (R&D) of next-generation antibody therapeutics, which are considered more effective than conventional therapeutics for the treatment of inflammatory diseases, cancer, and autoimmune disorders. This is further encouraging biotechnology and pharmaceutical companies to invest in the next-generation antibody therapeutics market.
However, stringent regulations, longer approval time, and expensive nature of these drugs are some of the factors hampering the growth of the next-generation antibody therapeutics market.
Based on technology, the next-generation antibody therapeutics market is categorized into bispecific antibodies (BsAbs), Fc engineered antibodies, antibody fragments and antibody-like proteins (AF & ALPs), antibody drug conjugates (ADCs), and biosimilar antibody (Ab) products. Among these, the Fc engineered antibodies category is projected to witness the highest CAGR, of 11.0%, during the forecast period.
On the basis of therapeutic area, the oncology category dominated the next-generation antibody therapeutics market in 2014, while the autoimmune/inflammatory category is projected to witness faster growth, with 46.4% CAGR, during the forecast period.
Geographically, North America is expected to continue leading the next-generation antibody therapeutics market. Besides, the market in the region is expected to advance at a CAGR of 46.2% during the forecast period. Well-developed life sciences research infrastructure, presence of established players, increasing prevalence of chronic diseases, and government support for research in antibody therapeutics are some of the key factors driving the growth of the market in the region.
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Bayer AG, Seattle Genetics Inc., F. Hoffmann-La Roche AG, Xencor Inc., Takeda Pharmaceuticals Company Limited, Dyax Corp., Biogen Inc., ImmunoGen Inc., AstraZeneca PLC, Amgen Inc., Kyowa Hakko Kirin Co. Ltd., and Bristol-Myers Squibb Company are some of the major players operating in the global next-generation antibody therapeutics market.
GLOBAL NEXT-GENERATION ANTIBODY THERAPEUTICS MARKET SEGMENTATION