Dublin, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The "Global Bispecific Antibodies Market Size, Share & Industry Trends Analysis Report By Indication (Cancer, Inflammatory & Autoimmune Disorder and Others), By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global bispecific antibodies market is projected to witness significant growth and is estimated to reach $80.2 billion by 2030, with a compound annual growth rate (CAGR) of 40.9% during the forecast period.
The rising incidence of cancer is expected to be a major factor contributing to the market's growth, with the cancer segment projected to generate over 68% share of the market by 2030.
The increasing adoption of a sedentary lifestyle has been linked to a higher risk of cancer, resulting in a rise in cancer rates and driving the demand for more effective cancer treatments. The prevalence of autoimmune and inflammatory disorders is also contributing to the expansion of the bispecific antibodies market.
Key Growth Drivers
- Increase in Cancer Incidence: The growing prevalence of a sedentary lifestyle has been associated with a higher risk of cancer. In 2020, there were an estimated 195,499, 130,878, and 27,885 new cases of cancer in Mexico, Argentina, and Saudi Arabia, respectively. This rise in cancer rates is spurring the development of more effective cancer medicines, thus driving the expansion of the bispecific antibodies market.
- Rising Possibilities for Focused and Customized Therapy: The demand for personalized and targeted medicines is expected to boost the market for bispecific antibodies. These antibodies can be designed to specifically target particular cell types or chemicals, enabling more targeted and effective therapies with fewer side effects. This tailored approach is particularly relevant in the context of rare diseases, where conventional medicines may not be effective.
- Growing Research & Development Endeavors: Intense research is being conducted on bispecific antibodies, as they have the potential to be effective therapeutic agents. Advances and innovation in antibody and protein engineering are facilitating the development of more potent and accurate targeted medication candidates, leading to the market's growth.
Market Restraints
- Safety and Immunogenicity Concerns: Like any therapeutic agents, bispecific antibodies need to demonstrate a favorable safety profile. Concerns about potential toxicities and immunogenicity can impact the development and acceptance of bispecific antibodies, hindering the market's growth.
Market Segmentation
The global bispecific antibodies market is segmented by indication into cancer, inflammatory & autoimmune disorders, and others. The inflammatory & autoimmune disorder segment witnessed considerable growth in 2022, driven by chronic inflammation and tissue damage associated with these conditions, leading to an increased demand for targeted therapies.
Regional Outlook
North America accounted for the largest revenue share in the market in 2022, with multiple market participants and various developments contributing to its growth. Collaborations and partnerships among companies have accelerated research and development efforts in the region. Europe, Asia Pacific, and LAMEA are also witnessing significant growth in the bispecific antibodies market.
Competitive Landscape
Key players in the bispecific antibodies market include Amgen, Inc., F. Hoffmann-La Roche Ltd., Pfizer, Inc., Akeso, Inc., Johnson & Johnson (Janssen Global Services, LLC), Taisho Pharmaceuticals Holding Co., Ltd., Immunocore Holdings plc, GlaxoSmithKline PLC (GSK), Novartis AG, and Allergan PLC (AbbVie, Inc.). Partnerships, collaborations, and agreements have been key strategies deployed by these companies to keep pace with changing demands and drive market growth.
Forecast Period
The study covers the analysis of key stakeholders and provides quantitative market estimations for each micro-market segment from 2021 to 2031, with a CAGR estimation for each segment during the forecast period of 2023 to 2030.
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