The International Agency for Research on Cancer (IARC) estimates that 1 in 5 people develop cancer during their lifetime. The organization further states that 19.3 million people, including 9,227,484 females and 10,065,305 males, were diagnosed with cancer in 2020, and this disease accounted for approximately 10 million fatalities in the same year, worldwide. The female population is usually affected by breast, colorectal, lung, and cervical cancers; whereas, the male population generally suffers from lung, prostate, colorectal, and stomach cancers.
Thus, the surging cases of cancer will accelerate the next-generation antibody therapeutics market at a healthy CAGR in the coming years. In contemporary times, antibody drug conjugates (ADCs), the next-generation antibodies, are being considered as a safer and effective option for treating cancer, as these antibodies are prepared by combining a biologically active cytotoxic drug and monoclonal antibody to target tumor cells. These antibodies help in overcoming the challenge of the limited application of monoclonal antibody therapeutics.
Apart from ADCs, Bayer AG, Xencor Inc., Dyax Corp., Takeda Pharmaceuticals Company Ltd., Biogen Inc., Kyowa Hakko Kirin Co. Ltd., ImmunoGen Inc., Amgen Inc., and AstraZeneca PLC are also engaged in the production of Fc engineered antibodies, biosimilar antibody (Ab) products, bispecific antibodies (BsAbs), and antibody fragments and antibody-like proteins (AF & ALPs). In the coming years, Fc engineered antibodies will be consumed at the highest rate. These next-generation antibodies are being used in oncology and autoimmune/inflammatory therapeutic areas.
According to P&S Intelligence, North America led the next-generation antibody therapeutics market in the past, and it is also expected to retain its market dominance in the coming years as well. This can be credited to the strong presence of prominent players, presence of well-developed life sciences research infrastructure, and increased anti-body research activities, in the region. Additionally, the growing prevalence of chronic health disorders such as cancer and surging government support for R&D in antibody therapeutics will encourage the adoption of next-generation antibody therapeutics in North America.
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This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings