Northbrook, IL 60062 -- (SBWire) -- 01/15/2024 --Antibody Therapeutics Market in terms of revenue was estimated to be worth $247.3 billion in 2023 and is poised to reach $479.0 billion by 2028, growing at a CAGR of 14.1% from 2023 to 2028 according to a new report by MarketsandMarkets. The growing advancements in antibody engineering, the growing demand for oncology antibody therapeutics and the increasing clinical pipeline focus on antibody therapeutics are the factors supporting the growth of this market.
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Monoclonal antibodies subsegment is the fastest-growing of the antibody therapeutics market by format.
Among the format subsegments, the antibody therapeutics market is segmented into monoclonal antibodies, polyclonal antibodies, antibody fragments, bispecific antibodies, and other novel antibody therapies. In 2022, the monoclonal antibodies segment accounted for the fastest-growing market of the format segment. This can be attributed to factors such as the presence of a large number of pipeline monoclonal antibodies and benefits such as target specificity offered by mAbs among others.
Oncology is the fastest-growing segment of the antibody therapeutics market by disease area.
Among the disease area subsegments, the antibody therapeutics market is segmented into autoimmune & inflammatory diseases, oncology, hematology, infectious diseases, osteology, immunology, neurology, and other disease areas. In 2022, the oncology segment accounted for the fastest-growing share of the disease area segment of the antibody therapeutics market. Growth in this market segment can be attributed to one of the major factors which is the presence of a large number of oncology therapeutics products in the clinical pipeline.
Europe: The second-largest region in the antibody therapeutics market.
The European market is the second-largest antibody therapeutics market globally. One of the major factors supporting the high growth of the European antibody therapeutics market is the advancements in antibody therapy research in the region. Major countries contributing to this growth include Germany, the UK and France. Moreover, the presence of some of the key market players such as F. Hoffmann-La Roche Ltd. (Switzerland), AstraZeneca (UK), and Merck KGaA (Germany) among others in the region, is another factor supporting the growth of the European antibody therapeutics market.
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Antibody Therapeutics Market Dynamics:
Drivers:
1. Growing advancements in antibody engineering
Restraints:
1. Stringent regulatory approval process
Opportunities:
1. Increasing collaboration of pharmaceutical companies with CROs, CDMOs and academic institutions
Challenge:
1. Complexities in manufacturing processes
Key Market Players of Antibody Therapeutics Industry:
The market for antibody therapeutics market is consolidated, with key players strategizing to capture the market. Prominent players in the antibody therapeutics market are F. Hoffmann-La Roche Ltd. (Switzerland), AbbVie Inc. (US), Johnson & Johnson (US), Merck KGaA (Germany), Bristol-Myers Squibb (US), AstraZeneca (UK), Sanofi (France), Regeneron Pharmaceuticals, Inc. (US), Novartis AG (Switzerland), Amgen, Inc. (US), Biogen Inc. (US) among others.
The primary interviews conducted for this report can be categorized as follows:
- By Respondent: Supply Side- 70% and Demand Side 30%
- By Designation: Managers - 45%, Directors- 30%, and Executives - 25%
- By Region: North America- 25%, Europe- 25%, Asia Pacific- 40%, Latin America- 5%, and Middle East- 3% & Africa- 2%
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Antibody Therapeutics Industry Recent Developments:
- In October 2023, F. Hoffmann-La Roche Ltd. entered into a definitive agreement to acquire Televant. Through this agreement, Roche received the development, manufacturing and commercialization rights in the US and Japan for Telavant's RVT-3101, a novel TL1A directed antibody.
- In January 2023, AbbVie Inc. and Immunome, Inc. entered into strategic collaboration to identify up to 10 novel target-antibody pairs leveraging Immunome's Discovery Engine.
- In December 2022, AbbVie Inc. and HotSpot Therapeutics entered into a strategic collaboration and option to license agreement for HotSpot's discovery-stage IRF5 program for the treatment of autoimmune diseases.
Antibody Therapeutics Market Size - Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the antibody therapeutics market and its segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, trends, opportunities, and challenges. Additionally, the report is inclusive of extensive product mapping along with their revenues. The report also gives pipeline analysis of antibody therapeutic products which are expected to impact the market significantly during the forecast period.
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Analyzing Antibody Therapeutics Market Size 2023, Share, Trends, Business Revenue, Growth Potential, and Forward Projections 2028
In October 2023, F. Hoffmann-La Roche Ltd. entered into a definitive agreement to acquire Televant. Through this agreement, Roche received the development, manufacturing and commercialization rights in the US and Japan for Telavant's RVT-3101, a novel TL1A directed antibody.