Next-generation antibody therapeutics are increasingly gaining momentum in the global scenario and are anticipated to impact patient care, particularly due to the increasing demand for precision medicine. New analysis released by Persistence Market Research pegs the overall value of the global next generation antibody therapeutics market at US$2.2 bn in 2015. Exhibiting a robust CAGR of 13.0%, the market is likely to reach US$6.6 bn by the end of 2022. Antibody therapeutics are evolving over time, more so because of their potency against targeted diseases, enhanced yet affordable production process, and the ability to address multiple aspects of any ailment simultaneously and with fewer side effects.
Success of Monoclonal Antibody Therapeutics Boosts Next-Generation Antibody Therapeutics Market
In the last two decades, monoclonal antibody therapeutics have received extensive attention from the global healthcare industry. Currently, the market has almost 50 monoclonal antibody drugs, owing to which the competition among leading biopharmaceutical companies has become more aggressive. The vendor landscape of the antibody therapeutics market comprises of well over 500 companies, all engaged in the development of novel discovery platforms and bioinformatics sources. With healthcare investment increasing exponentially, manufacturers in the global next-generation antibody therapeutics market see lucrative prospects for growth in forthcoming years. However, high cost and stringent norms for regulatory approvals create a few bottlenecks ahead of the global next-generation antibody therapeutics market.
Next-generation antibody therapeutics provide exciting opportunities for collaborative research, which is touted by analysts as a potential factor impacting the market’s growth metrics. Furthermore, mergers and acquisitions among the prominent market players also contribute to the expansion of the global next-generation antibody therapeutics market. Recently, Roche acquired Dutalys, which is a bispecific antibody developer, with the intent to strengthen their capabilities in this niche. Additionally, key players in the market are showing a keen interest in collaborating in order to enhance their overall quality of research and share resources.
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North America Dominates Global Market, Asia Pacific Exhibits Lucrative Opportunities
At present, North America leads the global next-generation antibody therapeutics market, followed by Europe. The North America market currently holds the largest share in the overall market. In its latest report, Persistence Market Research has anticipated the next-generation antibody therapeutics market in North America to reach US$3.7 bn by 2022. By the end of 2015, the market was worth close to US$1.1 bn. If these figures hold true, the North America next-generation antibody therapeutics market will rise at an impressive CAGR of 14.50% between 2015 and 2022.
Increasing use of ADC technology is one of the latest trends in the market. Such new trends are influenced by the increased research to fuel drug development, introduction of the latest technologies, and growing investment aimed at boosting the healthcare sector. It is expected that emerging nations in Asia Pacific such as China and India will follow suit, since their economies are expanding dynamically. Hence, an increased demand for biological drugs for treating chronic ailments is observed in these countries.