Next-Generation Antibody Therapeutics Market, Trends, Size, Growth and Forecast to 2020
The global next generation antibody therapeutics market was valued at $1,328.3 million in 2014 and it is expected to grow at a CAGR of about 44% during the period 2015 - 2020.
The global next generation antibody therapeutics market is growing due to increasing popularity of antibody-drug conjugate (ADC) and increasing number of collaborations for R&D in next-generation antibody therapeutics. In addition, growing prevalence of chronic diseases and increase in research and development investments by various organizations for production of improved products further encourages the growth of global next-generation antibody therapeutics market. Furthermore, increase in healthcare expenditure and technological advancements in antibody therapeutics have led to the development of more efficient antibody therapeutics, which is resulting in increased demand for next-generation antibody therapeutics.
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Based on technology, the Fc Engineered Antibodies market is expected to witness the highest growth (CAGR of 11%) during the forecast period. Among the therapeutic areas, the oncology segment led the global next-generation antibody therapeutics market in 2014, with the largest market size, but the autoimmune/inflammatory is expected to see the fastest growth of 46.4% CAGR, during the period 2015 – 2020.
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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 increasing global gross domestic product (GDP) and growing healthcare expenditure have created a 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.
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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.
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Jan 29, 2017