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Bispecific antibodies are artificially engineered recombinant protein-based therapeutics that can simultaneously bind to two different epitopes or target two different antigens. They play a crucial role in cancer immunotherapy by recruiting and activating T cells to directly kill tumor cells. With the growing awareness about personalized medicine and targeted cancer therapies, the demand for bispecific antibodies is gaining momentum in the pharmaceutical industry.
The global Bispecific Antibodies Market is estimated to be valued at US$ 41.08 Mn in 2024 and is expected to exhibit a CAGR of 29% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of personalized medicine is one of the major trends propelling the growth of the bispecific antibodies market. Personalized medicine tailors medical treatment to the individual characteristics of each patient which helps maximize effectiveness and minimize negative reactions to certain drugs or other therapies. As bispecific antibodies have the ability to selectively target multiple tumor-associated antigens, their adoption aligns well with the tailored treatment approaches of personalized medicine. With continued research and development, bispecific antibodies are demonstrating high potential in treating various types of cancer, autoimmune diseases and infectious diseases, thereby increasing their acceptability among medical researchers and healthcare professionals. This widespread acceptance of bispecific antibodies for targeted disease treatment is expected to drive the market substantially over the forecast period.
SWOT Analysis
Strength: Bispecific antibodies can simultaneously bind two different antigens or epitopes, which allows them to engage in novel mechanisms of action. They offer potential therapeutic advantages over conventional monoclonal antibody therapies.
Weakness: High research and development costs associated with bispecific antibody drug development. Manufacturing bispecific antibodies is also more complex and expensive than traditional monoclonal antibodies.
Opportunity: Rising focus on the development of next-generation therapeutics. Growing prevalence of various cancers and other chronic diseases will drive the demand for more targeted and effective treatment options like bispecific antibodies.
Threats: Stringent regulatory environment for approval of novel biologics. Dependence on a few key players for technology and manufacturing capabilities in this nascent market.
Key Takeaways
The global bispecific antibodies market is expected to witness high growth over the forecast period of 2023 to 2030. The global Bispecific Antibodies Market is estimated to be valued at US$ 41.08 Mn in 2024 and is expected to exhibit a CAGR of 29% over the forecast period 2023 to 2030.
Regional analysis comprises North America currently dominates the market and is expected to continue its dominance during the forecast period. The high adoption of advanced therapeutics and presence of key players in the region drive the market.
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. Amgen’s bispecific antibody, Blincyto (blinatumomab), was the first approved bispecific antibody therapy for cancer treatment.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
