Following the research on monoclonal antibodies, researchers have been taking efforts on discovery and development of next-generation antibody therapeutics, with an aim to attain improved, more efficient, easier to deliver, and safer antibody therapeutics. With medical world witnessing a host of chronic diseases, which need more efficient and effective treatments, the market for next-generation antibody therapeutics is thriving at a rapid pace. PMR indicates significant growth prospects for the global next-generation antibody therapeutics market, with the revenues expected to reach a value of US$ 6.76 Bn by 2022 end, up from US$ 2.25 Bn observed in 2015. The market will exhibit a stellar CAGR of 13.0% during the forecast period 2016-2022.
Massive success of the discovery and development of monoclonal antibodies initially provided a strong impetus to the development of next-generation antibody therapeutics. Researchers will continue to push the market with novel discoveries and therapeutic applications of next-generation antibodies. Rising prevalence of chronic disorders will also be a major factor fueling the demand for next-generation antibody therapeutics. Moreover, advent of technology supporting R&D activities is another key factor foreseen to accelerate the market growth in the next few years. Several governments are increasing funds and grants for research activities in the antibody therapeutics sector. This, coupled with increasing healthcare expenditure of developed as well as developing countries will also fuel the growth of the market during the forecast period. Monoclonal antibodies though highly efficient have certain limitations regarding safety and delivery. However, next-generation antibodies overcome all the restrictions faced by monoclonal antibodies and possess enhanced features of therapeutic antibodies. This will continue to provide a major boost to the market. A number of leading pharma, biopharma, and biotechnology companies are increasingly investing in development of next-gen therapeutic antibodies against autoimmune diseases, inflammatory disorders, and cancers. The forecast period will see a rapidly thriving market bolstered by these strong drivers. Rising use of antibody-drug conjugate (ADC) is currently trending in the market and will hold a positive impact on market growth.
Higher costs and strict regulatory measures may however remain the longstanding challenges that could hamper the growth of the market by 2022 end. Lengthy approval procedures have also been a major restraint to the rapid growth, which will continue to hold a negative impact.
The global next-generation antibody therapeutics market is classified on the basis of technology and application. By technology, the drug-antibody conjugates segment will continue to dominate over 2016-2022, whereas based on the therapeutic application, oncology will be the largest segment.
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The global market for next-generation antibody therapeutics is geographically segmented into four key regions – North America, Europe, Asia, and rest of the world. North America has been the largest market, registering a value of US$ 1.1 Bn in 2015. By the end of 2022, the North American market will expand at a CAGR of 14.5%, reaching a value of US$ 3.69 Bn.
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The global market for next-gen therapeutic antibodies comprises a large number of pharmaceutical, biopharmaceutical, and biotechnology companies. Leading players are consistently active in terms R&D and manufacturing. Some of the most prominent players include ImmunoGen, Inc., Bayer AG, Biogen, Xencor, Inc., F. Hoffmann-La Roche Ltd., Kyowa Hakko Kirin Co., Ltd., Dyax Corp., Amgen, Inc., and Seattle Genetics, Inc.
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