The Next Generation Antibody Therapeutics Market Share is expected to be worth US$ 6.76 Billion at a CAGR of 13% between 2022. With value-based reimbursement systems taking the center stage, patient engagement technology is expected to be adopted all across. The pricing analysis takes into consideration licensing fees, implementation fees, annual license maintenance fees, up-gradation and integration fees, and consulting fees.
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.
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Some of the major players in the market:
- Hoffmann-La Roche Ltd.
- Kyowa Hakko Kirin Co., Ltd.
- Seattle Genetics, Inc.
- ImmunoGen, Inc.
- Amgen, Inc.
- Bayer AG.
- Xencor, Inc.
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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.
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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