The worldwide market of next-generation antibody therapeutics accounted for a revenue of $1,328.3 million in 2014, which is anticipated to witness a CAGR of 44% during 2015 – 2020. As per P&S Market Research, the global market is surging, because of growing acceptance of antibody-drug conjugate (ADC) and increasing number of alliances and partnerships for R&D in next-generation antibody therapeutics.
Also, the increasing occurrence of chronic diseases, and increased research and development ventures by various organizations for manufacturing better products is promoting the augmentation of the global next-generation antibody therapeutics market. The increased healthcare spends and technological advancements in antibody therapeutics resulted in development of highly efficient antibody therapeutics, thus leading to increase in demand for next-generation antibody therapeutics.
The Fc Engineered Antibodies segment is anticipated to account for the highest growth, among the various technologies with a CAGR of 11% during the projected period. The oncology segment led the global next-generation antibody therapeutics market in 2014, with the biggest market size, however the autoimmune/inflammatory segment is expected to progress with the fastest growth rate of 46.4% during 2015 – 2020.
The governments of various countries are involved in taking initiatives for improving healthcare facilities, and making next-generation antibody therapeutics affordable. This is increasing the demand for next-generation antibody therapeutics. The surging global gross domestic product (GDP) and increasing healthcare expenditure have created positive impact on the growth of the next-generation antibody therapeutics market. Also, in comparison to traditional antibodies, the next-generation antibody therapeutics is more effective in the treatment of various diseases, such as cancer, autoimmune disorders, and inflammatory diseases. This is attracting various pharmaceutical and biotechnology companies to increase their investment in the R&D of next-generation antibody therapeutics.
However, certain restraints such as high cost of next-generation antibody therapeutics, stringent regulatory requirements and time-consuming approval process for new drugs are hindering the market growth. North America next-generation antibody therapeutics market is expected to witness the fastest growth of CAGR 46.2% globally, during the period 2015 – 2020.
The key companies 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.
News Courtesy: P&S Market Research