Biologics is fastest growing segment fueling the growth of Antibodies Market

Sumedha

Biologics is fastest growing segment fueling the growth of Antibodies Market

Market Overview:

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.

The antibodies market manufactures therapeutic antibodies that are used for treatment of various chronic and life-threatening diseases such as cancer, infectious diseases, cardiovascular diseases, and others. Therapeutic antibodies help in modulating immune system and stimulating specific immune responses. They are majorly used in targeted drug delivery in oncology. The rising demand for monoclonal antibodies in treatment of cancer and advancement in antibody-drug conjugates are fueling the growth of this market.

Market Dynamics:

The growth of the global antibodies market is majorly driven by rising prevalence of chronic diseases worldwide and advancement in biotechnology. According to WHO, chronic diseases accounted for over 70% of all deaths worldwide in 2020. In addition, increasing R&D investments for development of novel therapeutic antibodies and rising healthcare expenditure are also propelling the market growth. Furthermore, advancement in technologies such as antibody-drug conjugates (ADCs) for targeted delivery of cytotoxic agents in cancer treatment are creating lucrative opportunities in this market. ADCs help to enhance therapeutic window by increasing drug concentration at tumor sites while reducing systemic toxic effects. Despite drivers, high development cost and complex production process of antibodies are some of the factors expected to hinder the market growth during the forecast period.

SWOT Analysis

Strength: The antibodies market has seen tremendous growth in the last decade with the advancement in biotechnology and development of monoclonal antibodies. The wide application of antibodies in the treatment of various diseases like cancer, autoimmune disorders has created a large patient pool and solidified their position as major therapeutics. With continuous R&D focus, antibodies have evolved to be more targeted and potent with minimized side effects.

Weakness: Production of antibodies involves complex manufacturing processes which makes them very costly compared to other therapeutic drugs. This acts as a barrier in commercialization and accessibility of important antibody drugs. Additionally, lack of skilled workforce and strict regulations prolong the development timelines of new antibody drugs.

Opportunity: Growing prevalence of chronic diseases and various types of cancers present huge opportunity for development of novel antibody drugs. Also, shift towards more targeted and personalized treatment approaches has accelerated research in antibody-drug conjugates and bispecific antibodies. Further development in areas like gene therapy and stem cell therapy is expected to open new niche application areas for antibodies.

Threats: Stiff competition from small molecule drugs and biosimilars pose major threat as they offer comparable efficacy at lower costs. Dependence on limited contract manufacturing organizations can disrupt supply chains. Stringent approval processes make antibodies susceptible to regulatory issues and delays.

Key Takeaways

The Global Antibodies Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for targeted therapies for treatment of cancer and autoimmune diseases. Monoclonal antibodies have revolutionized treatment paradigms and substantial pipeline of novel antibodies will further boost the market.

Regional analysis: North America dominates the global antibodies market due to presence of major players and availability of advanced healthcare facilities. However, Asia Pacific is emerging as the fastest growing region due to rising healthcare spending, increasing research activities and expanding patient pool. China and India are projected to be among the top revenue generating countries in the antibodies market.

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. Biologics comprise several blockbuster antibody drugs which are major revenue generators for these companies. They invest heavily in R&D to develop next-gen antibodies targeting various cancer and immunology indications.

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