Bispecific Antibodies Market to Grow with a CAGR of 9.43% through 2028
Increasing
applications in diverse therapeutic areas and a strong focus on research and
development are expected to drive the Global Bispecific Antibodies Market
growth in the forecast period, 2024-2028.
According to
TechSci Research report, “Bispecific Antibodies Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Bispecific Antibodies Market stood at USD 5.67 billion in 2022 and
is anticipated to grow with a CAGR of 9.43% in the forecast period, 2024-2028.
This can be attributed to the rising prevalence of cancer. The prevalence of
cancer continues to rise globally, making it one of the leading causes of
mortality. Bispecific antibodies have gained substantial traction in the field
of oncology due to their unique ability to simultaneously target cancer cells
and engage the body's immune system. This dual targeting approach holds the
promise of improving treatment outcomes and reducing side effects, driving the
demand for bispecific antibodies in cancer therapy.
Furthermore, a
growing emphasis on patient-centered care is shaping the bispecific antibodies
market. Healthcare providers are increasingly considering patient preferences,
treatment tolerability, and quality of life when selecting therapies. This
trend drives the development of therapies with improved safety and convenience
profiles.
The surging
incidence of cancers such as breast cancer, lung cancer, prostate cancer, and
other chronic ailments stands out as a primary catalyst for market expansion.
These molecules offer a precise approach to combat specific cancer types by
concurrently targeting cancer cells and the immune system. Moreover, the
growing demand for personalized medicine and the shift toward targeted
therapies have contributed to the market's upward trajectory.
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Furthermore,
strategic collaborations and partnerships between pharmaceutical companies and
biotechnology firms have played a pivotal role in advancing the research and
development of bispecific antibodies. These partnerships have expedited the
discovery and clinical advancement of innovative bispecific antibodies, further
fueling market growth. For example, in January 2022, Amgen and Generate
Biomedicines joined forces in a research partnership to explore and develop
protein therapies for five distinct clinical targets spanning various
therapeutic domains. Additionally, in May 2023, the U.S. FDA granted approval
to EPKINLY (epcoritamab-bysp), marking the first-ever authorized bispecific
antibody for the treatment of relapsed or refractory Diffuse Large B-Cell
Lymphoma (DLBCL) in adult patients.
The COVID-19
pandemic has presented a dual impact on the bispecific antibodies industry. On
one hand, it has underscored the crucial role of bispecific antibodies in
addressing infectious diseases. However, the pandemic has also introduced
challenges in the form of disruptions in the supply chain, resulting in delays
in bispecific antibody research and development. Furthermore, economic
uncertainties and budget constraints have affected research institutions and
biotech companies, potentially influencing their prioritization and allocation
of resources for bispecific antibody development.
Furthermore,
various advancements undertaken by industry participants and the growing
collaborations between industry and academia have significantly propelled the
global market. For instance, in March 2023, Thermo Fisher Scientific Inc.
collaborated with Arsenal Bioscience, a cell therapy company, to facilitate and
support the clinical manufacturing of Autologous T-Cell Therapies.
The Global
Bispecific Antibodies Market is segmented into indication, regional
distribution, and company.
Based on its
indication, Cancer is poised to dominate the Global Bispecific Antibodies
Market for several compelling reasons. First and foremost, cancer remains one
of the most prevalent and challenging diseases worldwide, driving continuous
demand for innovative and effective treatments. Bispecific antibodies, with
their unique ability to simultaneously target multiple cancer-specific
antigens, offer a promising avenue for improved therapeutic outcomes.
Additionally, ongoing advancements in biotechnology and immunotherapy research
have led to the development of increasingly sophisticated bispecific antibody
candidates, which are gaining traction in clinical trials. Furthermore, the
rising investment in oncology research and the expanding patient pool in emerging
markets contribute to the growth potential of this market segment. With the
pressing need for more efficacious cancer therapies, bispecific antibodies are
well-positioned to play a pivotal role in shaping the future of cancer
treatment, solidifying their dominance in the Global Bispecific Antibodies
Market.
Based on region,
North America is poised to dominate the Global Bispecific Antibodies Market in
2022 for several compelling reasons. Firstly, the region boasts a robust
pharmaceutical and biotechnology industry with a strong focus on research and
development, particularly in the field of immunotherapy and oncology. This
commitment to innovation has led to the emergence of cutting-edge bispecific
antibody therapies, which are gaining significant traction. Secondly, North
America benefits from a well-established healthcare infrastructure and a vast
patient population, particularly in the United States, where cancer rates are
high. This combination of research prowess and a sizable addressable market
creates a favorable environment for the adoption and commercial success of
bispecific antibody treatments. Additionally, regulatory agencies such as the
FDA have been receptive to novel therapeutic approaches, expediting the
approval process for these groundbreaking drugs. Given these factors, North
America is poised to maintain its dominance in the Global Bispecific Antibodies
Market for the foreseeable future.
Major companies
operating in Global Bispecific Antibodies Market are:
- Amgen Inc
- Roche Holding AG
- Genentech Inc
- Akeso Inc
- Janssen Pharmaceuticals Inc
- Taisho Pharmaceutical Co Ltd
- Immunocore Ltd
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“The global
bispecific antibodies market is undergoing rapid transformation, driven by an
array of emerging trends. These trends include diversification of therapeutic
applications, novel antibody formats, T-cell engaging antibodies, combination
therapies, personalized medicine, expanded clinical trials, strategic
collaborations, regulatory advancements, and a patient-centric approach. As
these trends converge, they promise to reshape the landscape of healthcare,
offering more effective and precise treatment options for a wide range of
diseases. It is an exciting time for the bispecific antibodies market, as it
continues to evolve and push the boundaries of what is possible in modern
medicine,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Bispecific Antibodies Market By Indication
(Cancer, Inflammatory & Autoimmune Disorders, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Bispecific Antibodies
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Bispecific
Antibodies Market.
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