March 1, 2024
Antibodies Market

Key Trend In Personalized Medicine Projected To Boost The Growth Of Antibodies Market

Market Overview:

The global Antibodies Market is estimated to be valued at US$ 224,083.5 Mn in 2023 and is expected to exhibit a CAGR of 12.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Antibodies are glycoproteins produced by plasma B-cells as part of the immune system’s defense mechanism. These biomolecules bind to specific antigens that trigger their production. Antibodies are used effectively in the diagnosis and treatment of several diseases like cancer, cardiovascular diseases, infectious diseases, and others. They are highly selective and potent biologics that can block targets involved in disease processes. Advances in antibody engineering and production techniques have expanded their therapeutic applications.

Market key trends:

The rising focus on personalized medicine is a key trend in the antibodies market. Personalized medicine involves tailoring treatment to an individual’s needs based on their biological signature and disease indicators. Using antibodies targeted at molecular alterations unique to a patient’s tumor can improve treatment outcomes. Advancements in antibody-drug conjugates and bispecific antibodies are also enabling personalized cancer care through selectively delivering payloads to cancer cells. Another trend is the focus on developing antibody therapy for rare diseases. Due to the small patient population and high unmet needs, orphan drugs for rare diseases including antibody treatments offer lucrative market opportunities. Monoclonal antibodies still represent untapped potential in certain disease areas like hematology, nephrology, and transplant. The anticipated launch of new innovative antibody drugs to treat unmet medical needs will drive the antibodies market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as the antibodies market requires high R&D investments and strict regulatory approvals.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established players offering substitutable products at lower prices.

Bargaining power of suppliers: The bargaining power of suppliers is moderate since raw material suppliers have fewer options to sell to.

Threat of new substitutes: The threat of new substitutes is moderate as new alternative therapies are emerging but antibodies still have advantages over other treatment options.

Competitive rivalry: The competitive rivalry is high among the existing global players in the antibodies market.

Key Takeaways

The Global Antibodies Market Size is expected to witness high growth, exhibiting CAGR of 12.9% over the forecast period, due to increasing prevalence of chronic diseases and growing demand for monoclonal antibody therapies.

Regional analysis: North America is expected to dominate the global antibodies market over the forecast period, owing to rising healthcare expenditure and presence of major antibody players in the region. However, Asia Pacific is anticipated to exhibit the highest growth rate during the forecast period due to increasing healthcare investments, expanding patient pool and growing awareness about antibody therapeutics.

Key players analysis: Key players operating in the antibodies market are Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it