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Next-Generation Antibody Therapeutics Market Analysis, Outlook, Size, Growth And Trends 2024-2033
Next-Generation Antibody Therapeutics Market Analysis
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According to The Business Research Company's, The next-generation antibody therapeutics market size has grown rapidly in recent years. It will grow from $6.14 billion in 2023 to $6.9 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to monoclonal antibody success, rising prevalence of chronic diseases, approval of antibody-drug conjugates, growth of immunotherapy, gene therapy and antibodies.
The next-generation antibody therapeutics market size is expected to see rapid growth in the next few years. It will grow to $10.41 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to biosimilar development, bispecific antibodies development, nanobody development, patient-centric approaches, immunomodulatory antibodies, expanded applications in autoimmune diseases, continuous manufacturing. Major trends in the forecast period include advancements in antibody engineering, digital technologies in antibody design, industry collaborations, advancements in drug delivery systems, real-world evidence in antibody development.
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Market Drivers and Trends:
The increasing prevalence of chronic diseases is expected to propel the growth of the next-generation antibody therapeutics market going forward. Chronic diseases are problems that last a year or longer, necessitating continuing medical care, restricting everyday activities, or both. Next-generation antibody therapeutics have a therapeutic function for individuals with chronic illnesses that deliver more focused care, which would benefit patients' outcomes. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, it was projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising to 142.66 million. Therefore, the increasing prevalence of chronic diseases is driving the growth of the next-generation antibody therapeutics market.
Technological advancements are a key trend gaining popularity in the next-generation antibody therapeutics market. Major companies operating in the next-generation antibody therapeutics market are concentrating on creating technologically advanced products to strengthen their position in the market. For instance, in October 2021, Merck KGaA, a Germany-based science and technology company, launched the new technology ChetoSensar. By addressing solubility issues, ChetoSensar offers renewed hope for antibody-drug conjugates. It has improved the efficacy of its antibody-drug conjugates and high-potency active pharmaceutical ingredient (HPAPI). By enhancing the solubility of antibody-drug conjugates, the novel ChetoSensar technology expands the potential for developing next-generation antibody-drug conjugate therapeutics.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche Ltd., Bayer AG, Bristol-Myers Squibb Company, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Amgen Inc., Moderna Inc., BioNTech SE, Regeneron Pharmaceuticals Inc., Biogen Inc., Celgene Corporation, Lonza Group AG, Catalent Inc., Genentech Inc., Kyowa Hakko Kirin Co. Ltd., Samsung Biologics, WuXi Biologics, Seagen Inc., Seattle Genetics Inc., Xencor Inc., ImmunoGen Inc.
Next-Generation Antibody Therapeutics Market 2024 Key Insights:
• The next-generation antibody therapeutics market size is expected to see rapid growth in the next few years. It will grow to $10.41 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Next-Generation Antibody Therapeutics Is A Vital Solution In Addressing The Surge Of Chronic Diseases
• Revolutionizing Antibody Therapeutics By Exploring Cutting-Edge Technologies And Breakthroughs In Next-Generation Solutions
• North America was the largest region in the next-generation antibody therapeutics market in 2023
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