Next-Generation Antibody Therapeutics Market Size (2024 - 2029)

Next-Generation Antibody Therapeutics Market Analysis

Over the next few years, the market for next-generation antibody therapeutics is expected to register a CAGR of 12.1%.

The COVID-19 outbreak put an immense burden on the healthcare infrastructure to develop advanced treatments and vaccines. Owing to the high specificity and reliability of next-generation antibody therapeutics, monoclonal antibodies (mAbs) emerged as powerful tools to treat and detect numerous diseases, including SARS and CoV-2, which resulted in the evolution of the next-generation antibody therapeutics sector. As per the article published in January 2022 in the Journal of Biomedical Science, many researchers have started to urgently develop antibody-based assays for the detection of SARS-CoV-2 and Ab therapeutics for use as COVID-19 treatment agents. For instance, in September 2022, AstraZeneca's Evusheld (tixagevimab and cilgavimab, formerly AZD7442), a long-acting antibody combination, has been recommended for marketing authorization in the European Union for the treatment of adults and adolescents, aged 12 years and older, weighing at least 40 kg, with COVID19 who do not require supplemental oxygen and who are at increased risk of progressing to severe COVID19. Hence, the COVID-19 pandemic was anticipated to positively impact the next-generation antibody therapeutics market in the coming years.

The major factor attributing to the growth of the market is the increase in the prevalence of different chronic diseases such as rheumatoid arthritis, inflammatory bowel disorder, Crohn's disease, and cancer. According to the research published by Medscape in January 2022, the annual incidence rate of rheumatoid arthritis is approximately 3 cases per 10,000 people, and the prevalence rate is approximately 1% globally. Furthermore, the American Cancer Society published the statistics in January 2021, estimating more than 1.9 million new cancer cases to be diagnosed and 609,360 cancer deaths in the United States in 2022. Due to their enhanced efficacy, increased safety, and ability to deliver targeted treatment, next-generation antibody therapies are primarily used to treat chronic diseases, including cancer and autoimmune disorders. Thus, it is anticipated that the studied market would expand in a lucrative way due to the rising prevalence of chronic diseases and rare disorders, where next-generation antibodies serve as the predominant therapy.

Leading biotechnology and pharmaceutical corporations are increasingly funding the creation of new therapeutic antibodies to fight inflammatory illnesses, cancer, and autoimmune disorders. For instance, in November 2022, Seagen announced the US Food and Drug Administration's (FDA) approval of a new indication for brentuximab vedotin, ADCETRIS, for children with previously untreated high-risk Hodgkin lymphoma. In November 2022, ImmunoGen announced that the U.S. FDA had granted accelerated approval for ELAHERE (mirvetuximab soravtansine-gynx) for the treatment of platinum-resistant ovarian cancer in adults. Additionally, in July 2022, F-star Therapeutics announced a license agreement to grant Takeda a worldwide, exclusive, royalty-bearing license to research, develop, and commercialize a bispecific next-generation antibody against an immuno-oncology target using F-star's proprietary Fcab and mAb2 platforms. In March 2022, Bayer announced its plans to spend EUR 2 billion over the next three years to expand its next-gen manufacturing capabilities.

Therefore, the studied market is likely to witness growth over the forecast period due to several factors, such as growing advancements in monoclonal antibody technology, rising incidences of chronic disorders, and increasing initiatives for the discovery and development of next-generation antibody therapeutics. However, strict regulations on the approval of these therapeutics, coupled with the inflated costs of the next generation of antibody therapeutics, are expected to hinder market growth during the study period.

Next-Generation Antibody Therapeutics Industry Segmentation

As per the scope of the report, next-generation antibody therapies include a new improvised therapeutic antibody based on the modification of the conventional immunoglobulin (Ig) format to create novel drugs for the treatment of various diseases. Next-generation antibodies have been clinically developed to be more specific and often more potent than traditional monoclonal antibodies. The next-generation antibody therapeutics market is segmented by therapeutic area (oncology and autoimmunity or inflammation), technology (antibody-drug conjugates, bispecific antibodies, fc-engineered antibodies, and others), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.