Antibody Drugs Market to Witness an Outstanding Growth by 2024
Posted: Mar 14, 2019
Antibodies are large Y-shaped proteins, which help immune system to identify and neutralize foreign objects such as bacteria and viruses in the human body. Gaining from the advancements in the field of biotechnology in the past two decades since the first antibody drug was made commercially available in 1986, several antibody drugs are now available. This drugs not only have fewer side effects as compared to other alternatives, they attain high efficacy too in curing certain diseases that were previously considered untreatable. Due to this undeniable benefit and immense possibilities in future, the global Antibody Drugs Market is gaining quick momentum and investors are currently investing aggressively in the research and development of new antibody drugs. By 2009, nearly 30 new antibody drugs were available in the market for consumers and according to the report, the global market for antibody drugs will expand at a healthy CAGR during the forecast period of 2016 to 2024.
There are a number products in the late-pipeline stage of clinical trials, which are expected to be introduced during the forecast period and in turn will drive the growth prospects of the global market for antibody drugs. For example, products such as glembatumumab vedotin by Seattle Genetics and trastuzumab by Synthon Biopharmaceuticals are due to be launched in the next five years. Additionally, some molecules are in Phase I/II, preclinical, and discovery stages. Another factor augmenting the demand for antibody drugs is the fewer side effects, which is attracting more physicians to prescribe it and consumers to opt for it. Additionally, the emergence of targeted and combination therapies will positively affect this market over the coming years. Targeted therapies have fewer adverse effects than conventional non-targeted therapies because they utilize the surface markers of infected cells, which are absent or are in lower amounts in normal cells.
Researchers are yet to find effective drugs to cure highly prevalent diseases such as cancer, nervous system ailments, and allergic diseases, but with advancements in antibody drug conjugates (ADC), possibilities are enormous. This progress is another driving factor for the market. However, high cost of these drugs and some of the side effects are expected to hinder the growth rate during the forecast period.
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The global market for antibody drugs can be segmented on the basis of end users, application, and type of drugs, and geography. By end users, the market is segmented into hospitals, long-term care facilities, and research institutes. Currently, hospitals serve the maximum demand. By drug type, the market can be segmented into monoclonal antibodies, antibody-drug conjugates, and polyclonal antibodies. Presently, monoclonal antibodies account for the maximum market share, and is expected to expand at the most significant CAGR during the forecast period. By disease application, the market can be segmented into central nervous system (CNS) disorders, cancer and autoimmune disorders, and cardiovascular diseases. The cancer indication type segment accounted for the most prominent share in 2015.
Geographically, the market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Rest of the World. Presently, North America accounts for the maximum market share due to factors such as robust healthcare infrastructure, necessity of addressing urgent unmet need in treatment of cancer and immunological diseases such as rheumatoid, greater affordability of the consumers, and high rate of adoptability of new technology. North America market is expected to retain its position on top of the market, however, Asia Pacific is projected for a fastest growth rate due to improving healthcare sector in the region and vast patient base.
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Novartis AG, Amgen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., AbbVie Inc., and Eli Lilly and Co. are identified as some of the prominent names in the global market for antibody drugs. In 2015, F. Hoffmann-La Roche Ltd. was the global leader, dominating with a wide product portfolio, including monoclonal antibodies, bispecific antibodies, antibodies fusion proteins, and antibody drug conjugates. Flagship products of the company include Herceptin, Rituxan, Avastin, and Lucentis. The report also notes that several players are focused on co-marketing and co-development products, which will enhance their presence in the market. Additionally, collaborations and partnerships also enable these companies to increase visibility of their products.
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