According to a new market report published by Persistence Market Research “Global Market Study on Next-Generation Antibody Therapeutics: Biosimilar Antibody Products to Witness Highest Growth by 2022”, the global next-generation antibody therapeutics market is project to be valued at US$ 2,250.0 Mn by the end of 2015 and is expected to expand at a CAGR of 13.0% from 2015 to 2022, to account for US$ 6,761.1 Mn by 2022.
Next-generation antibody therapeutics refers to improved antibody therapeutics with enhanced efficiency, greater safety, and improved delivery. Advancements in monoclonal antibody technologies have led to the development of next-generation therapeutic antibodies with reduced functional size, greater bifunctional properties, and low immunogenicity. Next-generation antibody-based therapeutics enhances existing properties of therapeutic antibodies for the treatment of various medical conditions such as cancer, infectious diseases, and autoimmune diseases.
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Globally, the next-generation antibody therapeutics market is witnessing significant growth due to technological advancements in antibody therapeutics and increasing the prevalence of chronic diseases. In addition, rising healthcare expenditure and growing R & D activities are driving the growth of the next-generation antibody therapeutics market. However, stringent regulatory requirements and long approval time for new drug restrains the growth of the market. Similarly, high costs of next-generation antibody therapeutics is a major concern for the market.
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North America is the largest market for next-generation antibody therapeutics. This is mainly due to increasing prevalence of chronic diseases and increasing healthcare spending in the region. The North America next-generation antibody therapeutics market is projected to be valued at US$ 1,104.4 Mn by the end of 2015 and is expected to account for US$ 3,691.8 Mn by 2022 at a CAGR of 14.5%. On the basis of technology, biosimilar antibody products are the fastest growing segment. On the basis of therapeutic application, oncology is the largest segment in next-generation antibody therapeutics market.
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