Global Antibody Drug Conjugate Market to Reach Worth USD 29.3 Bn by 2024: Promising Drug Pipeline to Drive the Market
According to the latest report published by Credence Research, Inc. “Antibody Drug Conjugate Market– (Drug Type – Adcetris and Kadcyla): Market Growth, Future Prospects and Competitive Analysis, 2016-2023,” the market was valued at USD 1.3 Bn in 2015, and is expected to reach USD 29.3 Bn by 2022, expanding at a CAGR of 41.7% from 2016 to 2024.
Browse the full report Antibody Drug Conjugate Market: Market Growth, Future Prospects and Competitive Analysis, 2016-2024 at http://www.credenceresearch.com/report/antibody-drug-conjugate-market
Antibody Drug Conjugates are monoclonal antibodies that are attached to biologically active drugs such as chemotherapeutic drugs, radioactive isotopes, cytokines or cytotoxins via chemical linkers with liable bonds. They combine the unique targeting property of monoclonal antibodies with the cancer cell killing ability of cytotoxic drugs. These allow discrimination between healthy and diseased tissues. Currently marketed drugs suffers from various stipulations like low potency, lack of specificity and adverse effects. This has forced the pharmaceutical and research companies to develop therapeutics that can overcome these barriers. Commercializing antibody drug conjugates have overcome these scenarios and improve the medical conditions. The currently marketed antibody drug conjugate drugs are Adcetris (Seattle Genetics) and Kadcyla (Genentech/Roche) followed by several Antibody Drug Conjugates (ADCs) in pipeline showcase the potential for innovations in this market.
In base year 2015, North America accounted for the largest market in the antibody drug conjugate market due to the presence of major pharmaceutical companies working on the development of antibody drug conjugate drugs. Moreover, one of the prime reason of North America’s dominance in the antibody drug conjugates market is the fast-track approval and commercialization of ADCs in the region as compared to other geographical regions. Europe held the second largest market for antibody drug conjugates market. Kadcyla, one of the two drugs that are marketed currently is manufactured by the Europe based pharmaceutical giant, Roche. Additionally, Europe was the second region after where the commercialization of the ADCs were approved on a fast-track basis. Asia pacific is anticipated to be the fastest growing segment in the antibody drug conjugate market due to the approval of ADCs in Japan, China.
Market Competition Assessment:
The antibody drug conjugate market currently possesses only two companies having their drugs marketed. However, many companies have their molecules in the clinical development stage which hit market during the forecast period. The companies include Immunomedics, Spirogen, Pfizer, Roche/Genentech, Oxford BioTherapeutics, and Others.
Key Market Movements:
The Antibody Drug Conjugate market is still in infancy stage with only Adcetris and Kadcyla are the only two marketed drugs. However, there are several ADCs under development, with most of them being developed for oncological indication.
Drug developers and venture capital firms are investing huge amount of money in biologics and it remains to be seen what proportion of this will be directed towards ADCs.
Browse the full report at http://www.credenceresearch.com/report/antibody-drug-conjugate-market
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Name: Chris Smith
Designation: Global Sales Manager
Address : 105 N 1st ST #429, SAN JOSE, CA 95103, United States