Global Next-generation Antibody Therapeutics Market to Witness High Growth, thanks to Increasing Healthcare Expenditure

Next-generation antibody therapeutics pertain to antibody therapeutics with greater safety, improved efficiency, and enhanced delivery. Innovations in monoclonal antibody technologies have resulted in the enhancement of next-generation antibody therapeutics with compact functional size and better bifunctional properties. Next-generation antibody-based therapeutics improve the prevailing properties of antibody therapeutics for the treatment of different medical disorders including infectious diseases, cancer, and autoimmune diseases.

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Persistent Market Research (PMR) forecasts that the global next-generation antibody therapeutics market is anticipated to register high growth due to the technological developments in antibody therapeutics along with increased research and development activities. According to a PMR research study, in 2015, the global market for next-generation antibody therapeutics stood at US$2.25 bn and is expected to be US$6.76 bn by 2022. The market is expected to exhibit a 13% CAGR between 2015 and 2022.

The global market for next-generation antibody therapeutics is witnessing substantial growth owing to the tremendously growing incidence of chronic diseases around the world. The rising healthcare spending is further fuelling the growth of the global next-generation antibody therapeutics market. This is further supported by the rising number of alliances among various players operating in this market as they are taking efforts for the enhancement of next-generation antibody therapeutics.

The growth prospects of the global market for next-generation antibody therapeutics based on various parameters are as follows:

On the Basis of Geography: The global market for next-generation antibody therapeutics can be segmented into North America, Asia Pacific, Europe, and Rest of the World. Among these regions, the North America next-generation antibody therapeutics market has accounted for the largest share in the global market in recent years. The dominance of this regions can be attributed to the growing prevalence of chronic diseases and rising healthcare spending. In 2015, the North America market for next-generation antibody therapeutics stood at US$1.10 bn and is projected to reach US$3.69 bn by the end of 2022. Furthermore, this market is anticipated to exhibit a 14.5% CAGR from 2015 to 2022.

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On the Basis of Technology: The global market for next-generation antibody therapeutics is classified as per technology into biosimilar antibody products, bispecific antibodies, antibody-drug conjugates, FC engineered antibodies, and antibody fragments and antibody-like proteins. Among these, the antibody-drug conjugates segment leads the global market. On the other hand, in the next few years, the biosimilar antibody products segment is anticipated to record the highest growth in the global market.

On the Basis of Therapeutic Application: The global market for next-generation antibody therapeutics is divided into inflammatory/autoimmune diseases and oncology. Among the two applications, the oncology segment holds the largest market share and is expected to retain its position in the coming years.

On the flip side, rigid regulatory requirements and elongated approval times for new drugs are the key factors that are expected to curb the growth of this market in the next few years. In the same way, the high prices of next-generation antibody therapeutics are a key concern for the growth of this market.

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