Fc Protein and Glycoengineered Antibodies Market Development is Changing Business Needs? – A Progress Review
Global Fc Protein and Glycoengineered Antibodies Market Drivers
Key players in the market are focusing on research and development activities and receiving approvals from regulatory bodies, which are expected to boost the global Fc protein and glycoengineered antibodies market growth over the forecast period.
For instance, in 2016, Genentech Inc. received approval from the U.S. Food and drug Administration (U.S. FDA) for Tecentriq (Atezolizumab). It is being used for the treatment of urothelial carcinoma. In March 2019, Tecentriq received its second approval from the U.S. FDA for the treatment of small lung cancer. Furthermore, in November 2017, TG Therapeutics, Inc. began its clinical trial of Ublituximab for the treatment of multiple sclerosis. It is currently in third phase of its clinical trial. Factors such as increasing product approvals and robust pipeline are expected to drive the global fc protein and glycoengineered antibodies market growth.
Increasing prevalence of diseases such as cancer is expected to propel the global Fc protein and glycoengineered antibodies market growth. According to the World Health Organization (WHO), cancer is considered as the second most leading cause of death worldwide, and, in 2018, around 9.6 million people died worldwide due to cancer. Hence, glycoengineered antibodies can be developed for the treatment of cancer and thus, this factor is expected to drive growth of the global fc protein and glycoengineered antibodies market over the forecast period.
Global Fc Protein and Glycoengineered Antibodies Market Restraints
High cost of drugs is expected to hinder the global Fc protein and glycoengineered antibodies market growth. Manufacturers are focused on offering a highly effective drug, thus investing more into research and development activities. This increases the final cost price of the product. According to Pharmacy and Healthcare Communication, LLC, Gazyva costs around US$ 41,300 for six months treatment of cancer. Hence, this factor is expected to restrain growth of the global fc protein and glycoengineered antibodies market.
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Global Fc Protein and Glycoengineered Antibodies Market Regional Analysis
North America region is expected to dominate in the global fc protein and glycoengineered antibodies market due to factors such as product launches, presence of leading manufacturers (such as F. Hoffmann La-Roche Ltd.), and active research and development in the field. Drugs such as Obinutuzumab (Gazyva), Mogamulizumab (Poteligeo), Atezolizumab (Tecentriq), and Durvalumab (Imfinzi) have been approved in the U.S. in 2013, 2018, 2016, and 2017 respectively.
Europe is expected to witness significant growth in the global Fc protein and glycoengineered antibodies market. Factors such as approval for new drugs is expected to drive the Europe’s Fc protein and glycoengineered antibodies market growth over the forecast period. For instance, in 2018, Kyowa Hakko Kirin Co. Ltd. received an approval from the European Commission to market the Poteligeo antibody in the European market. It is the first biological product that is being directed against chemokine receptor 4 (CCR4), which will be used for the treatment of Sezary syndrome that has been previously treated by systemic therapy. Such new drug approvals are expected to propel Europe Fc protein and glycoengineered antibodies market growth over the forecast period.
Global Fc Protein and Glycoengineered Antibodies Market Key Players
Some of the major players operating in the global Fc protein and glycoengineered antibodies market include Kyowa Hakko Kirin Co. Ltd., Merck KGaA, Boehringer Ingelheim International GmbH, AstraZeneca Plc, Amgen Inc., Genentech Inc., Five Prime Therapeutics Inc., Celldex Therapeutics, Clovis Oncology, and TG Therapeutics, Inc.
Global Fc Protein and Glycoengineered Antibodies Market Taxonomy
The global Fc protein and glycoengineered antibodies market is segmented on the basis of drug, application, and region.
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