Antibody Therapy Market size to exceed $445bn by 2028

Antibody Therapy Market size is set to surpass USD 445 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Strong focus on research and development of innovative antibody therapeutics to cater targeted treatment for several chronic diseases will offer enormous opportunities to the antibody therapy industry expansion. Growing R&D expenditure and strong presence of key market players that are actively involved in R&D activities will enhance the market growth potential.
 

Moreover, high adoption of several antibodies for numerous disease treatments will stimulate demand for the antibody therapy. Government support and regulatory approvals expand the R&D activities conducted by the market players for the development of novel antibody therapies. For instance, in February 2020, Regeneron announced collaboration with the U.S. Department of Health and Human Services (HHS) to develop and provide treatment for the COVID-19 infection. Such collaborations between government and market players have augmented the development activities, that will ultimately benefit the global market size.
 

Continuous technological advancements in biologics business are another factor offering lucrative growth potential for antibody therapy in future. Several advancements in cell culture and protein technologies have paved the way for new drug therapies. Growth in demand for biologics, specifically antibody drug conjugates has resulted in adoption of advanced drug development and manufacturing techniques.
 

Moreover, the U.S. Food & Drug Administration approved significant number of antibody therapeutics for use in chronic disease treatments that will enable healthcare professionals to offer target treatment to patients. In addition, increasing awareness as well as adoption among public regarding biologics along with high patient satisfaction rate and reduced adverse effects will assist increase in demand for antibody therapy in near future. Therefore, booming biologics business with major focus on monoclonal antibody drugs will continue to drive the antibody therapy market demand.
 

Growing adoption of ADCs for alternative targeted treatments for cancer patients will augment segment demand

Based on type, the antibody therapy market is segmented as monoclonal antibodies and antibody-drug conjugates. Antibody-drug conjugates segment crossed USD 5 billion in 2021. The segment revenue growth is owing to its specificity and potency. Further, extensive research and development activities to develop innovative drugs based on antibody-drug conjugates by market players will boost segmental expansion. Additionally, use of genetic and recombinant technologies in development process will help in discovery of highly effective therapies with minimized side effects.
 

Browse key industry insights spread across 160 pages with 183 market data tables & 14 figures & charts from the report, “Antibody Therapy Market Forecasts By Type (Monoclonal Antibodies [mAbs] {Oncology, Autoimmune Diseases, Infectious Diseases}, Antibody-Drug Conjugates [ADCs]), End-use (Hospitals, Specialty Centers), Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/antibody-therapy-market
 

Expanding network of sophisticated specialty centers along with high availability of products will fuel segmental growth

Based on end-use, the antibody therapy market is classified as hospitals, specialty centers and others. Specialty centers segment held over 25% revenue share in 2021 and is anticipated to flourish at a significant CAGR over the estimated timeframe. A significant rise in number of facilities in developed and developing economies will fuel the overall market statistics. Surge in healthcare spending and availability of skilled staff and sophisticated infrastructure will drive segmental revenue share.
 

Increasing chronic disease burden in the Europe will offer unprecedented growth opportunities to the antibody therapy industry

Europe antibody therapy market is forecast to register over 12.7% CAGR during the analysis timeframe. Growing adoption of antibody therapeutics to treat several chronic diseases such as cancer, infectious diseases will drive regional market forecasts over the forecast timeframe. Rising prevalence of cancer patients in European countries will fortify product demand for antibody therapy. For instance, according to the World Health Organization, cancer is second most affecting disease in the Europe with more than 3.7 million new cases each year. Further, well-developed healthcare infrastructure has increased treatment accessibility to population, thereby stimulating the industry demand of antibody therapy in the region.
 

Increasing product developments and approvals by several business players will propel development opportunities to the market players

Some of the notable industry players involved in the antibody therapy market are Merck & Co, Inc, Regeneron Pharmaceuticals Inc., Novartis AG, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline plc, Takeda Pharmaceuticals, F. Hoffmann-La Roche Ltd., Seagen, AbbVie Inc, Amgen, Bristol Myers Squibb, and Johnson & Johnson. These industry players are undertaking numerous market growth strategies such as collaborations, partnerships, mergers & acquisitions, and product launch to broaden their product offerings.
 

For instance, in May 2021, Bristol Myers Squibb received the U.S. FDA approval for Opdivo used in the treatment of gastroesophageal junction cancer. This will help the company to strengthen its position in market.