PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320179
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320179
Bispecific Antibody Market size was valued at USD 630.9 Million in 2022, expanding at a CAGR of 8.3% from 2023 to 2030.
Bispecific antibodies aim to treat multi-layered, complex diseases by engaging two disease targets with one molecule. They are synthetic hybrid molecules having two separate binding domains that target two unique antigens, as opposed to natural antibodies, which have two targeting arms that attach to the same target antigen. Bispecific antibodies are typically not found in nature but are instead created using recombinant DNA techniques or cell fusion. By focusing on two distinct disease pathways, bispecific antibodies have the potential to increase therapeutic efficacy in the treatment of complicated human diseases.
The rising global burden of cancer and the unavailability of effective curing drugs possess are expected to propel the growth of the Bispecific Antibody Market.
Cancer is a significant global health challenge, and its burden continues to rise. While advances in cancer treatment and care have been made, the lack of viable curative treatments remains a concern. One promising approach to cancer immunotherapy is the use of Bispecific Antibodies. According to the world health organization, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Bispecific antibodies have the benefit of being able to target numerous antigens simultaneously and sequentially, and they can be employed in conjunction with chemotherapy, small compounds, and immunomodulatory medicines like checkpoint inhibitors. An increase in the number of research and development activities can provide growth opportunities for the market. However, the High cost associated with drug development hampers the market growth.
The Global Bispecific Antibody Market is segmented on the basis of Indication, Product Type, Application, and Region.
The market is divided into three categories based on Indication: Cancer, Inflammatory & Autoimmune Disorders, and Others. Cancer dominates the market. Bispecific antibodies have shown tremendous potential as immunotherapeutic medicines with the potential to enhance the body's immune response against cancer cells. They can be employed to specifically target cancer cells or modify immune cells to more effectively recognize and battle cancer cells.
The market is divided into two categories based on Product Type: Blinatumomab, Catumaxomab, Duligotumab, and Others. Catumaxomab dominates the market and is likely to maintain its dominance during the forecast period. Catumaxomab is a specific example of a bispecific antibody that has been used in cancer treatment. It is a trifunctional antibody that was developed for the treatment of malignant ascites, a condition where cancerous cells accumulate in the abdominal cavity and lead to fluid buildup.
The market is divided into two categories based on application: Hospitals, Specialty Clinics, and Others. Hospitals are on the cutting edge of cancer care and frequently play a crucial part in delivering cutting-edge medicines like bispecific antibodies. Specialty clinics that focus on cancer care or immunotherapy may also be involved in administering bispecific antibodies.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America dominates the Bispecific Antibody market due to the highest numbers of several cancers such as lung cancer, prostate cancer, breast cancer, and cervical cancer. These cancers are potential targets for bi-specific antibodies, driving the demand for such therapies in the region. National cancer institute predicted that in 2020, an estimated 1,806,590 new cases of cancer will be diagnosed in the United States and 606,520 people will die from the disease. Furthermore, Europe and Asia Pacific are projected to demand for Bispecific Antibody Market, due to the growing demand for targeted and personalized therapies and the emergence of novel bispecific antibody formats and technologies.
Bispecific antibody markets are highly competitive, with businesses aiming for market share and regulatory approvals for their goods. Bispecific antibody development has attracted significant interest from the pharmaceutical and biotechnology industries, raising market competition. Numerous companies have been funding research and development to create novel bispecific antibody candidates that focus on various cancers and other diseases. As more research supports the benefits of Bispecific antibodies, there is a growing interest in developing and utilizing these therapies for various types of cancer. Several pharmaceutical companies and biotechnology firms are investing in research and development to create their own Bispecific antibody applicants. This has led to an increase in the number of companies competing to bring effective Bispecific Antibody therapies to the market. Companies are striving to differentiate their products by optimizing the design of Bispecific Antibody, improving manufacturing processes, and exploring combination therapies to enhance their effectiveness. For Instance, Amgen and Xencor, Inc. announced nowadays that the two companies have entered into a research and license agreement to develop and commercialize novel therapeutics in the areas of cancer immunotherapy and inflammation. The research collaboration brings together Amgen's capabilities in target discovery and protein therapeutics with Xencor's XmAb bispecific technology platform.
Dec. 19, 2022, Biogen Inc. announced that it has reached an agreement with Genentech, a member of the Roche Group, related to the commercialization and sharing of economics for glofitamab. Under the terms of the agreement, Biogen will have no payment obligations and will receive tiered royalties on potential net sales of glofitamab within the United States as part of the company's long-standing collaboration on antibodies targeting CD20.