by The antibodies market is estimated to be valued at US$ 224,083.5 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antibodies are proteins produced by B cells in response to an antigen. They are crucial components of the adaptive immune system as they provide highly specific binding sites against antigens. Monoclonal antibodies are artificially produced in large quantities in the laboratory and are now being used extensively in immunotherapy for cancer and autoimmune diseases. They are also widely used as analytical tools in research and medical diagnosis.
Market Dynamics:
The increasing R&D investments in antibody drugs development is expected to drive the growth of the antibodies market during the forecast period. For instance, according to the report by Pharma Intelligence Center, the R&D spending by top 10 pharmaceutical companies was around US$ 78.7 billion in 2020, which is projected to grow at a CAGR of 6.9% during 2020-2024. Moreover, advancements in antibody engineering technologies, such as bispecifics and antibody drug conjugates are further augmenting the demand for antibodies. Bispecific antibodies have dual targeting capabilities and combine specificities of two different monoclonal antibodies into one molecule, while antibody drug conjugates link cytotoxic agents to antibodies, thereby combining antigen specificity of antibodies with favorable cytotoxic properties. These advancements are enabling development of novel and targeted treatment options for various diseases. However, high costs associated with antibodies production is a major challenge for market players.
SWOT Analysis
Strength: The antibodies market possesses several strengths. It has a wide range of therapeutic applications in various disease areas such as cancer, autoimmune disorders, and infectious diseases. Continuous research and development activities have led to development of novel and specialty antibodies with high specificity and minimal side effects. Rising demand for mono-clonal antibodies for treatment of various chronic conditions is expected to drive the market growth.
Weakness: High development cost of novel antibodies due to lengthy research and clinical trials is one of the major weaknesses of this market. Biologics have complex structures which makes scalable production challenging and expensive.
Opportunity: Growing prevalence of various types of cancer and autoimmune disorders globally presents lucrative growth opportunities. Rising healthcare spending of emerging economies also provides scope for market expansion.
Threats: Patent expirations of major blockbuster antibodies is a threat as it allows entry of biosimilars. Stringent regulations for approval of biologics also extends time to market which can impede the growth.
Key Takeaways
The Global Antibodies Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of chronic diseases. Rising incidence of cancer and autoimmune disorders drives the demand for targeted antibody therapies worldwide.
Regional analysis: North America dominated the global antibodies market in 2023, and is expected to continue dominating over the forecast period. This is attributed to well developed healthcare infrastructure, rising healthcare spending, and increasing adoption of specialty antibodies in the region. However, Asia Pacific is expected to witness highest growth rate owing to expanding healthcare industry, growing disposable incomes, and increasing patient pool in major countries like China and India.
Key players related content: Key players operating in the antibodies market are Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd. These companies are focusing on developing novel and specialty antibodies through continuous research and collaborations to strengthen their product pipeline and market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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