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Global Next-Generation Antibody Therapeutics Market: Market Segments: By Therapeutic Area (Oncology Autoimmune/Inflammatory); By Technology (Antibody-Drug Conjugates (ADCs), Bispecific Antibodies, Fc-engineered Antibodies, Antibody Fragments and Antibody-like Proteins & Biosimilar Antibody Products);and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Use of a new improvised therapeutic antibody to form novel medicines for the treatment of different diseases includes next-generation antibody therapeutics. Next-generation antibody therapeutics have been clinically developed for many diseases by pharmaceutical and biotechnology firms. Next-generation antibody-based therapeutics for the treatment of different medical conditions such as cancer, infectious diseases, and autoimmune diseases improve the current properties of therapeutic antibodies. For the reason of their unique pharmacological characteristics, the science and development involved in the production of next-generation antibodies generate great interest for many biotech and pharmaceutical companies, increase specificity for established cell types, and low intrinsic toxicity. Sacituzumab govitecan, an antibody-drug conjugate (ADC) composed of a humanized anti-Trop-2 antibody conjugated to SN38 is studied for the treatment of patients with metastatic triple-negative breast cancer. Immunomedics, a pharmaceutical company focusing on the development of antibody-drug conjugates for the treatment of cancer is planning clinical studies of the ADC in other cancers.
The worldwide increase in the occurrence of different chronic diseases, the increase in the use of therapeutic antibodies, the production and invention of new medicines, and the increase in research and development activities for the preparation of new therapies are the key factors that are fueling the worldwide rise in the demand for next-generation antibody therapeutics.
Global Next-Generation Antibody Therapeutics Market is segmented by therapeutic area into oncology and autoimmune/inflammatory. The greater market share in 2019 was accounted for by the oncology segment and is expected to see the highest growth during the forecast period due to the rising incidence of cancer globally. The key factors for market growth are the growing prevalence of cancer worldwide, where next-generation antibodies serve as the predominant therapy and new product launches.
Global Next-Generation Antibody Therapeutics Market is segmented by technology into Antibody-Drug Conjugates (ADCs), Bispecific Antibodies, Fc-engineered Antibodies, Antibody Fragments and Antibody-like Proteins, Biosimilar Antibody Products. The greater market share in 2019 was accounted for by ADCs and is estimated to dominate during the forecast period. One of the major developments in the next-generation antibody therapeutics market is the progress in ADC technology. The ADC technology combines the cytotoxic potential of chemotherapy and advantageous characteristics of antibodies, which leads to high specificity and efficiency of ADCs.
During the forecast period, the global next-generation demand for antibody therapeutics is likely to expand at a significant rate. This is largely due to the success of antibody therapeutics for chronic conditions such as cancer and autoimmune diseases of the next generation. Generally speaking, antibody therapeutics have experienced clear scientific developments to improve their effectiveness. Also, due to technological developments in antibody therapeutics and increasing the prevalence of chronic diseases, the market is experiencing substantial growth. Moreover, the growth of the next-generation antibody therapeutics market is driven by increasing healthcare expenditure and growing R&D activities.
A significant factor in boosting the market for next-generation antibody therapeutics would also be the rising prevalence of chronic disorders. Also, the introduction of technology to support R&D activities is another key factor anticipated to drive the growth of the industry over the next few years. In the antibody therapeutics market, many governments are growing funding and grants for research activities. This, combined with rising spending on healthcare by both developed and developing countries, would also drive demand growth during the forecast period.
Different governments have implemented numerous stringent rules and regulations relating to the use of antibodies, which are significantly hampering the global demand for next-generation antibody therapeutics. Also, the high investment required for R&D activities and the preference among medical and healthcare professionals as well as patients for older-generation drug therapies are some of the major issues facing the global market during the forecast period.
Global next-generation antibody therapeutics market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Global next-generation antibody therapeutics market in North America held the largest market share of XX.X% in the year 2019 and due to growing R&D activities, technical advancements in antibody therapies, growing healthcare expenditure, and increasing government initiatives in this area, growth over the forecast period is expected to be sustained. Also, the growth of the market is driven by the growing prevalence of chronic diseases and by the growing approval of new medicines. It is anticipated that the growing occurrence of multiple diseases, growing advances in therapeutic antibodies, evolving antibody technologies, rising demand for better healthcare services, and rapid growth in biosimilar antibodies and engineered antibodies will bring new opportunities for the region's next-generation therapeutic antibody industry.
Global next-generation antibody therapeutics market Segments:
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