by The Antibodies Market is estimated to be valued at US$ 224,083.5 Mn or Bn in 2023 and is expected to exhibit a CAGR of 12. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antibodies are glycoproteins produced by the immune system that recognises and neutralizes pathogens like bacteria and viruses by binding specifically to them. Monoclonal antibodies are artificially produced antibodies that can be tailored to bind to specific proteins on targeted cells or tissues. There is a growing demand for monoclonal antibodies for treating various cancers, immunological and inflammatory diseases which is driving growth of this market.
Market key trends:
The rising demand for novel targeted therapies is estimated to fuel the growth of antibodies market during the forecast period. Monoclonal antibodies have emerged as an important class of targeted therapies for conditions such as cancer, infectious diseases, inflammatory and immunological disorders. They enable highly specific targeting of diseases with reduced systemic toxicity. Popular monoclonal antibody drugs such as Herceptin, Rituxan and Avastin have demonstrated significant clinical benefits in cancers like breast, NHL and colorectal respectively. With continuos research and development, more monoclonal antibodies are expected to be approved for various medical conditions thus driving growth of this market.
Porter’s Analysis
Threat of new entrants: The antibodies market requires large investments in research and development and clinical trials which acts as a entry barrier for new players. The market also requires strong distribution networks which makes entry difficult for new players.
Bargaining power of buyers: The buyers has moderate power due to availability of alternatives in the market. However, high development cost of novel antibodies makes it difficult for buyers to switch to alternatives.
Bargaining power of suppliers: The suppliers has low bargaining power due to presence of large number suppliers in the market.
Threat of new substitutes: New antibody drug conjugates and bispecific antibodies with novel mechanisms and improved efficacy act as substitutes.
Competitive rivalry: High due to presence of large player and investments in drug development.
SWOT Analysis
Strength: Established market position of leading players, Rising R&D investments and partnerships, Increasing demand for monoclonal antibodies due to their specificity and favorable side-effect profile.
Weakness: High development cost and regulatory requirements, Requirement of specialized manufacturing facilities, Challenges in bioavailability and pharmacokinetics.
Opportunity: Emerging markets like Asia Pacific and Latin America offers high growth, Increasing biosimilars market , Development of novel antibodies like bispecific antibodies, antibody-drug conjugates.
Threats: Patent expiration of major drugs, Price control regulations in various countries, Biosimilar competition eroding branded biologics market shares.
Key Takeaways
The Global Antibodies Market Growth is expected to witness high, exhibiting CAGR of 12.% over the forecast period, due to increasing R&D investments by key players and rising demand for monoclonal antibodies for treatment of various chronic diseases.
Regional analysis: North America dominated the global market and is estimated to maintain its lead over the forecast period owing to growing disease incidence, availability of advanced healthcare facilities and high adoption of premium-priced therapeutic antibodies. Asia Pacific is anticipated to exhibit fastest growth during the forecast period driven by expanding healthcare infrastructure, rising healthcare spending and increasing disposable income.
Key players operating in the antibodies market are Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
