Antibody Drug Conjugates Market generated $1.4 billion in 2016 and is projected to attain $3.2 billion by 2023, growing at a CAGR of 12.9% during the forecast period, 2017-2023.
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The growth of the global antibody drug conjugates market is driven by rise in the prevalence of cancer and surge in demand for efficient and cost-effective cancer treatments. However, strict regulation set by regulating authorities for approval of ADCs and complications associated with drug development restricts market growth. Nonetheless, growth in adoption of ADCs over conventional cancer treatments and rapidly developing market in Asia-Pacific & LAMEA is set to create lucrative opportunities for emerging market players in the near future.
The report segments the global antibody drug conjugates market by drugs, mechanism of action, application, and geography. Based on drugs, the report demarcates the market into Adcetris and Kadcyla. The Kadcyla segment is poised to register the highest growth rate during the forecast period. Based on mechanism of action, the market is bifurcated into CD30 antibodies and HER2 antibodies.
Based on application, the report categorizes the market into breast cancer, lymphoma, and other types of cancer. Breast cancer segment generated the highest revenue in 2016 and is expected to continue its dominance in the future. Regionally, North America occupied the highest market share in 2016, owing to the high prevalence of cancer in the region and modern healthcare facilities for the employment of novel therapeutic procedures. Additionally, the adoption of experimental medicines and growth in awareness about antibody drug conjugates in the region is expected to boost the North American market. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period considering the high reported prevalence of cancer constituting a large patient pool.
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The report also profiles key players involved in the global antibody drug conjugates market, such as F. Hoffman-La Roche Ltd., ImmunoGen, Inc., Bayer AG, Novartis AG, Immunomedics, Inc., Agensys, Inc., Takeda Pharmaceutical Company Limited, Seattle Genetics, Inc., Concortis Biotherapeutics, and NBE-Therapeutics. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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