Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Next Generation Antibody Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global market for next-generation antibody therapeutics is on the brink of exponential growth, driven by their high efficiency and safety. Advancements in monoclonal antibody technology are contributing to the market's expansion, with biosimilar antibody products gaining traction.
The ongoing investments in the healthcare sector, especially during the COVID-19 pandemic, are expected to propel the market in the coming years. The report predicts robust revenue growth over the next five years, with North America, led by the developing market in the US, and the Asia Pacific, driven by booming economies like China and India, playing significant roles in the market's expansion.
Key Market Dynamics
The growth of the next-generation antibody therapeutics market is influenced by several key factors:
- Advancements in Monoclonal Antibodies: The initial success of monoclonal antibodies has paved the way for the development of next-generation antibody therapeutics. Researchers are continually striving to create improved, more efficient, and safer antibody therapeutics, addressing the needs of chronic disease treatments.
- Prevalence of Chronic Disorders: The rising incidence of chronic diseases is driving demand for more effective treatments. Next-generation antibody therapeutics offer enhanced features that can address the limitations of monoclonal antibodies.
- Government Funding: Governments are increasing funding and grants for research in the antibody therapeutics sector, coupled with rising healthcare expenditure in developed and developing countries, contributing to market growth.
- Investment by Pharmaceutical Companies: Leading pharmaceutical, biopharmaceutical, and biotechnology firms are investing in the development of next-generation therapeutic antibodies for conditions such as autoimmune diseases, inflammatory disorders, and cancers.
However, challenges such as higher costs and stringent regulatory measures, including lengthy approval procedures, may hinder market growth by 2031.
Segment Analysis
The global next-generation antibody therapeutics market is segmented based on technology and application. The drug-antibody conjugates segment continues to dominate the market, while oncology remains the largest therapeutic application.
Regional Analysis
The global market for next-generation antibody therapeutics is divided into four primary regions: North America, Europe, Asia, and the rest of the world. North America stands out as the largest market, with a substantial value recorded in 2023. By the end of 2031, the North American market is expected to experience significant growth, with a notable Compound Annual Growth Rate (CAGR) and reaching a substantial value.
Key Players Analysis
The global next-generation therapeutic antibodies market includes numerous pharmaceutical, biopharmaceutical, and biotechnology companies. Leading players are actively engaged in R&D and manufacturing. Prominent companies in the market include
- F. Hoffmann-La Roche Ltd.
- Kyowa Hakko Kirin Co., Ltd.
- Seattle Genetics, Inc.
- ImmunoGen, Inc.
- Amgen, Inc.
- Biogen.
- Bayer AG.
- Xencor, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/62ym4j
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