Bispecific Antibody Therapeutics Market Size And Forecast
Bispecific Antibody Therapeutics Market size was valued at USD 523.9 Million in 2021 and is projected to reach USD 963.3 Million by 2030, growing at a CAGR of 7.0% from 2022 to 2030.
The rise in cancer prevalence rates around the world will perform as a primary driver, causing the market’s growth rate to expand. The Global Bispecific Antibody Therapeutics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Bispecific Antibody Therapeutics?
Bispecific antibodies are a new type of antibody that works by attaching to two different antigens at the same time (or dissimilar epitopes of the similar antigen). Antibody-dependent cell-mediated cytotoxicity (ADCC) and other cytotoxic processes are used to redirect immune effector cells for the effective destruction of cancer cells, such as complement-dependent cytotoxicity (CDC) and antibody-dependent cellular phagocytosis (ADCP). Bispecific antibodies have emerged as promising therapeutic agents due to their unique biological and pharmacological properties, as well as their availability in various formats. In recent years, advances in protein and antibody engineering techniques have resulted in the creation of around 50 novel forms.
Moreover, bispecific antibodies have two antigen-binding sites in a single molecule. Bispecific antibodies come in a wide range of sizes and forms, from small proteins with two antigen-binding fragments to large IgG-like molecules with extra domains. Bispecific antibody development in oncology has accelerated because of the therapeutic success of currently existing bispecific antibodies. There are 106 bispecific antibody molecules in development, according to Global data’s database. The majority of the 106 bispecific antibody medicines in clinical development target blood cancers, whereas the rest target solid tumors, primarily lung and gastrointestinal cancers.
Get | Download Sample Report @ https://www.verifiedmarketresearch.com/download-sample?rid=275934&utm_source=Free&utm_medium=004
To date, two bispecific antibodies have been approved for therapeutic use: Blincyto (2014) and Hemlibra (2017). It’s important to note that Blincyto and Hemlibra produced revenues of USD 232 million and USD 930 million, respectively, in 2019 (till September). An exponential increase in the number of clinical trials can also be linked to the increased popularity and therapeutic potential of bispecific antibodies; the total number of trials has increased from 51 studies in 2014 to even more than 300 in 2019. Currently, more than 300 bispecific drug candidates are in clinical or preclinical trials. In reality, several licensing deals have been signed-in the last few years between drug developers and technology providers to accelerate the development of pipeline drug candidates.
Global Bispecific Antibody Therapeutics Market Overview
The rise in cancer prevalence rates around the world will perform as a primary driver, causing the market’s growth rate to expand. Cancer is the world’s 2nd major cause of death, after cardiovascular diseases, according to the World Health Organization (WHO). Regardless, it is one of the most avoidable chronic non-communicable diseases. Reduced cigarette use, improved diets, and physical activity, as well as other interventions, can save around 40% of cancer deaths. The adoption of a sedentary lifestyle is on the rise, indicating that a large number of individuals are not active, putting them at a higher risk of cancer. Furthermore, the intake of fast food and packaged goods, as well as a sedentary lifestyle, increases the risk of cancer. As a result, an increase in the adoption of a sedentary lifestyle corresponds to an increase in cancer incidence, necessitating the development of more effective cancer medicines.
Another important aspect driving the growth rate of the bispecific antibody therapeutics market is the increase in healthcare spending, which aids in the improvement of the market’s infrastructure. Meanwhile, various government agencies are also trying to improve healthcare infrastructure by increasing funding, which will have an impact on market dynamics. Furthermore, the bispecific antibody therapeutics market will grow as a consequence of a growing number of government initiatives to raise awareness and increase the geriatric population. Along with this, people’s lifestyles are changing, and government measures are becoming more favorable, increasing the market’s growth rate.
On the other hand, during the forecast period of 2022-2030, the high cost of drug development will stifle the growth rate of the bispecific antibody therapeutics market. The market for bispecific antibody therapeutics would be challenged by a lack of healthcare infrastructure in developing nations and a stringent regulatory environment. Additionally, during the projection period of 2022-2030, a lack of public awareness and poor reimbursement policies may constrain and impede the market’s growth rate.
Global Bispecific Antibody Therapeutics Market: Segmentation Analysis
The Global Bispecific Antibody Therapeutics Market is segmented based on Indication, End-Users, and Geography.
Bispecific Antibody Therapeutics Market by Indication
• Oncology
• Autoimmune Disease
• Others
Based on Indication, the market is segmented into stand-alone oncology, autoimmune disease, and others. Cancer, after cardiovascular diseases, is the world’s second-leading cause of death, according to the World Health Organization. However, there has been a significant increase in the adoption of a sedentary lifestyle, signifying that a huge number of people are active, putting them at a higher risk of cancer. In addition, fast-food and packaged-goods consumption, which is associated with a sedentary lifestyle, is linked to an increased risk of cancer. Consequently, an increase in the adoption of a sedentary lifestyle indicates an increase in the number of cancer cases, which would necessitate the development of improved cancer therapies. Hence the oncology segment is expected to grow in terms of indication.
Ask For Report Details @ https://www.verifiedmarketresearch.com/product/bispecific-antibody-therapeutics-market/?utm_source=Free&utm_medium=004
Bispecific Antibody Therapeutics Market by End-Users
• Hospitals
• Specialty Clinics
• Homecare
• Others
Based on end-users, the market is segmented into hospitals, specialty clinics, home care, and others. The clinical effectiveness of recently marketed bispecific antibodies has accelerated the pace of development for bispecific antibodies in oncology. According to Global data’s database, there are presently 106 bispecific antibody molecules in the investigation. Moreover, there are 263 ongoing registered clinical trials concerning a bispecific antibody. There are currently 106 bispecific antibody agents in clinical studies out of 106, 45 are primarily for blood malignancies and the rest are for solid tumors, mainly gastrointestinal and lung cancers. Therefore, the global bispecific antibodies therapeutics market is predicted to grow due to increased research and development activities and clinical trials also raising the demand for bispecific antibodies to treat various types of cancer.
Additionally, bispecific antibodies are being developed by market manufacturers in collaboration with regional biotech companies. These efforts by the manufacturers will also assist the global market for bispecific antibodies to grow at an extraordinary pace.
Bispecific Antibody Therapeutics Market by Geography
• North America
• Europe
• Asia Pacific
• Rest of the World
Based on Geography, the Global Bispecific Antibody Therapeutics market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In terms of market share and revenue, North America dominates the bispecific antibody therapeutics market, and this dominance will continue over the projection period. This is due to an increase in the demand for certain treatments, as well as rising healthcare expenditures, which will accelerate the market’s growth pace in this region. Additionally, the presence of major important players, as well as an increase in the use of newer technologies, will help to accelerate the market’s growth rate in this region.
Additionally, due to an increase in cancer incidence in this region, Asia-Pacific is predicted to be the fastest-growing region throughout the forecast period of 2022-2030. Furthermore, the expansion of healthcare infrastructure as well as rising government efforts would accelerate the market’s growth rate in this area.
Key Players
The study of the “Global Bispecific Antibody Therapeutics Market” will provide useful information with a focus on the global market. The major players in the market are Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Sanofi, AstraZeneca, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Allergan, Innovent Biologics, Inc., Adimab, Affimed GmbH, Xencor, Pieris Pharmaceuticals, Inc., Mereo BioPharma Group plc, Sobi, TG Therapeutics, Inc., Merus, MacroGenics, Inc., Emergent BioSolutions Inc., Genmab A/S, Alteogen, Astellas Pharma Inc. and among others.
For More Information @ https://www.verifiedmarketresearch.com/download-sample?rid=275934&utm_source=Free&utm_medium=004
About us –
Verified Market Research is a leading Global Research and Consulting firm that has been providing advanced analytical research solutions, custom consulting and in-depth data analysis for 10+ years to individuals and companies alike that are looking for accurate, reliable and up to date research data and technical consulting. VMR offers insights into strategic and growth analyses, Data necessary to achieve corporate goals and help make critical revenue decisions.
Our research studies help our clients make superior data-driven decisions, understand market forecasts, capitalize on future opportunities and optimize efficiency by working as their partner to deliver accurate and valuable information. The industries we cover span over a large spectrum including Technology, Chemicals, Manufacturing, Energy, Food and Beverages, Automotive, Robotics, Packaging, Construction, Mining & Gas. Etc.
We, at Verified Market Research assist in understanding holistic market indicating factors and most current and future market trends. Our analysts, with their high expertise in data gathering and governance, utilize industry techniques to collate and examine data at all stages. They are trained to combine modern data collection techniques, superior research methodology, subject expertise and years of collective experience to produce informative and accurate research.
Having serviced over 5000+ clients, we have provided reliable market research services to more than 100 Global Fortune 500 companies such as Amazon, Dell, IBM, Shell, Exxon Mobil, General Electric, Siemens, Microsoft, Sony and Hitachi. We have co-consulted with some of the world’s leading consulting firms like McKinsey & Company, Boston Consulting Group, Bain and Company for custom research and consulting projects for businesses worldwide.
Contact us:
Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll-Free: +1 (800)-782-1768
Website:-https://www.verifiedmarketresearch.com/
Email: sales@verifiedmarketresearch.com
Try Our New Dashboard :-https://www.verifiedmarketresearch.com/dashboard/?utm_source=Free&utm_medium=004
