The bispecific antibodies market has gained immense traction in recent years. Bispecific antibodies have two binding sites and can bind to two different epitopes, antigens, or receptors either on the same or different antigens. These bispecific antibodies allow to target multiple epitopes or antigens simultaneously, which enhances their efficiency in targeting tumors. The increasing demand for efficient cancer therapeutics is a major driver of this market.
The Global bispecific antibodies market is estimated to be valued at US$ 41.08 Bn in 2024 and is expected to exhibit a CAGR of 29% over the forecast period 2023 to 2030.
The increasing prevalence of cancer across the globe has boosted the demand for advanced targeted treatment options like bispecific antibodies. Their ability to direct immune cells like T cells and NK cells to tumor cells help eliminate cancer cells more effectively as compared to conventional monoclonal antibodies. This has accelerated their usage in oncology therapeutics development.
Key Takeaways
- Key players operating in the bispecific antibodies market are Amgen, Inc., Bayer AG, Dow Pharmaceutical Solutions, ImmunGene, Inc., Immunocore Limited, Merck & Co., Inc., Novartis AG, Pfizer, Inc., and F. Hoffmann-La Roche AG. These players are focusing on developing novel bispecific antibodies to expand their oncology drug portfolios.
- The market provides significant growth opportunities, especially in Asia Pacific and Latin America. Major players are expanding their presence in emerging markets through partnerships and collaborations with local biosimilar manufacturers.
- Globally, bispecific antibodies are witnessing increased adoption in cancer treatment. Many late-stage clinical pipeline candidates indicate the wide application of this technique.
Market drivers
The rising global incidence of cancer is a major market driver. According to the World Health Organization, cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. This widespread cancer incidence calls for more effective treatment approaches like bispecific antibodies.
Market restraints
High development costs of bispecific antibody drugs is a major market challenge. It requires extensive research and clinical testing to develop a novel bispecific antibody candidate which entails significant expenses. This high capital requirement and R&D costs restrain market growth, especially for small players.
Segment Analysis
The bispecific antibodies market can be segmented based on target affliction into oncology, autoimmune diseases, infectious disease. The oncology segment is expected to dominate the market owing to increasing prevalence of cancer cases globally and rising adoption of bispecific antibodies for cancer treatment. Bispecific antibodies help in recruitment and activation of T cells against tumor cells, thereby eliminating the tumor cells effectively. These antibodies also empowered the tumor microenvironment by depleting immunosuppressive cells like regulatory T cells.
Global Analysis
Regionally, North America is anticipated to dominate the bispecific antibodies market during the forecast period. This is majorly attributed to growing R&D activities for advancement in bispecific antibodies, rising cancer prevalence, and increasing adoption of premium priced cancer therapeutic drugs. However, Asia Pacific is expected to witness the highest growth rate owing to rising healthcare expenditure, new product launches, growing cancer patient pool, and high demand for cost-effective biosimilar drugs in the region. Key players are focusing on strategic collaborations and new product innovations to strengthen their market position. For instance, in January 2022, Amgen and Seagen announced a partnership to jointly develop and commercialize several bispecific antibody therapeutic candidates in North America.
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