Press release
Next-generation Antibody Market Size to Hit US$ 12,050.13 Mn by 2028
The next-generation antibody is designed to be more specific and often more potent than traditional monoclonal antibodies. Next-generation antibody strategies are required to engineer a useful therapeutic combining antibody, payload, linker, and conjugation method while ensuring stability, targeted delivery, and limited off-target effects.The next-generation antibody market is expected to reach US$ 12,050.13 million by 2028 from US$ 5,468.41 million in 2021; it is estimated to grow at a CAGR of 11.9% during 2021-2028.
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The growth of the next-generation antibody market is attributed to the rising prevalence of cancer worldwide and the increasing demand for next-generation antibody. However, the complications associated with manufacturing and approvals hampers the market growth.
Market leaders operating in the market have undertaken various organic and inorganic growth strategies. The next-generation antibody market majorly consists of players like F. HOFFMANN-LA ROCHE LTD.; Kyowa Kirin Co., Ltd.; Seagen Inc.; ImmunoGen, Inc.; Takeda Pharmaceutical Company Limited; Amgen Inc.; Pfizer Inc.; Catalent Inc; AstraZeneca and Xencor.
Several in organic approaches, such as product launches, and expansion in the endocrine disruptor screening, have resulted in the growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have helped the company to strengthen its revenue, which allows the company to hold a strong position in the market.
North America held the largest share of the global next-generation antibody market in 2021. The market growth in North America is driven by the increasing adoption of technological advancements, rising research and development activities on next-generation antibodies, growing usage of next-generation antibody, and the presence of large healthcare businesses.
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