PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290845
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1290845
Next-Generation Antibody Therapeutics Market size was valued at USD 5,007.1 million in 2022, expanding at a CAGR of 10.3% from 2023 to 2030.
The next generation of antibody therapeutics, with engineering to enhance characteristics such as target cell-killing potency. These include antibody-drug conjugates (ADCs), bispecific antibodies, engineered antibodies, antibody fragments, and Nanobodies. Monoclonal antibodies (mAb) are emerging as one of the major class of therapeutic agents in the treatment of many human diseases, in particular in cancer and immunological disorders. To date, 28 mAb have been approved by the United States Food and Drug Administration for clinical applications. In addition, several hundreds of mAb are being developed clinically by many biotech and pharmaceutical companies for various disease indications.
Next-generation antibody therapeutics hold significant promise in the treatment of chronic diseases. Several chronic diseases have seen a rise in their prevalence in recent years, including cardiovascular diseases, diabetes, cancer, autoimmune disorders, neurodegenerative diseases, and respiratory conditions, among others. According to the world health organization, Cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. However, Traditional treatment options for chronic diseases include chemotherapy, radiation, immunosuppressive drugs, and long-term use of medications to control symptoms. with continued advancements in the field of biotechnology and the growing understanding of disease mechanisms, next-generation antibody therapeutics have the potential to revolutionize the treatment landscape for various chronic diseases, improving patient results and quality of life.
The Global Next-Generation Antibody Therapeutics Market is segmented on the basis of therapeutic area, Technology, and Region.
The market is divided into three categories based on Therapeutic areas: Oncology and Autoimmune/Inflammatory. Oncology dominates the market and is likely to maintain its dominance during the forecast period. Oncology is one of the key therapeutic areas where next-generation antibody therapeutics have made significant advancements and demonstrated great potential.
The market is divided into three categories based on technology: Antibody-Drug Conjugates (ADCs), Bispecific Antibodies, Fc-engineered Antibodies, Antibody Fragments and Antibody-like Proteins, and Biosimilar Antibody Products. Antibody-Drug Conjugates dominates Next-Generation Antibody Therapeutics Market. Antibody-drug conjugates (ADCs) are a class of next-generation antibody therapeutics that combine the specificity of monoclonal antibodies with the cytotoxic effects of chemotherapy drugs.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is anticipated to dominate the growth of the next-generation antibody therapeutics market, due to the rise in auto-immune diseases, and increased healthcare expenditure. Next-generation antibody therapeutics show significant promise in the treatment of autoimmune diseases by offering targeted and specific interventions. According to the National Institutes of Health, up to 23.5 million Americans suffer from an autoimmune disease and the prevalence is rising. next-generation antibody therapeutics have the potential to address some of these challenges and potentially contribute to more efficient healthcare spending. In 2021, spending was USD187.6 billion, less than the unprecedented levels in 2020, but still higher than before the pandemic. Government-sponsored pandemic relief resulted in other federal programs spending increasing from only USD14.0 billion in 2019 to USD193.1 billion in 2020. In 2021, spending was USD71.9 billion, according to American Medical Association. Overall, Next-Generation Antibody Therapeutics Market is expected to experience significant growth opportunities in all regions.
An assembly of novel therapeutic antibody formats based on the modification of the conventional IgG format has arisen in recent years. In addition, several hundreds of Next-Generation Antibody Therapeutics are being developed clinically by many biotech and pharmaceutical companies for various disease indications. Many challenges still remain, however, and the full potential of therapeutic antibodies has yet to be realized. With the advancement of antibody engineering technologies and further understanding of disease biology as well as antibody mechanism of action, many classes of novel antibody formats or antibody-derived molecules are emerging as promising new-generation therapeutics. These new antibody formats or molecules are carefully designed and engineered to acquire special features, such as improved pharmacokinetics, increased selectivity, and enhanced efficacy. Numerous companies and research institutions are actively involved in the development and commercialization of these innovative therapies. For instance, on Jan. 6, 2022, Amgen and Generate Biomedicines nowadays announced a research collaboration agreement to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities.
In September 2022, the Evolution of monoclonal antibodies resulted in the next generation of antibody therapeutics, with engineering to enhance characteristics such as target cell-killing potency. These include antibody-drug conjugates (ADCs), bispecific antibodies, engineered antibodies, antibody fragments, and Nano bodies.
The scope of this report covers the market by its major segments, which include as follows: