Market Overview:
The global Antibodies Market is estimated to be valued at US$ 224,083.5 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Antibodies are Y-shaped proteins produced by the immune system that recognize and help eliminate pathogens like viruses and bacteria. They can also alert other cells of the immune system about the presence of a foreign substance. Antibodies have various medical uses in diagnostics, research, and treatments due to their ability to bind to specific antigens.
Market key trends:
One of the key trends in the antibodies market is the rise of biosimilar antibodies. Biosimilars are biotherapeutic products that are developed to be similar to an already approved biologic drug (called reference product). Biosimilars offer treatment advantage at a reduced cost as compared to reference biologics. With the expiry of patents of major blockbuster antibody drugs, biosimilars are gaining increased acceptance. For example, the expiry of patent of infliximab in 2020 has led to approval of several biosimilar versions like INFLECTRA and RENFLEXIS. This has intensified competition and made antibody therapies more affordable.
SWOT Analysis
Strength: Antibodies have high specificity and selectivity for their targets. They can recognize subtle differences between closely related molecular structures.
Weakness: Developing antibodies is an expensive and time-consuming process. Scaling up production to meet clinical and commercial demands can also be challenging.
Opportunity: Rising prevalence of cancer, infectious diseases, and other indications are driving the demand for antibodies. The market offers opportunities for development of antibodies against novel targets.
Threats: Biologics have lengthy development timelines and face high failure rates. Biosimilars pose pricing and competitive threats upon patent expiry of originator antibodies.
Key Takeaways
The Global Antibodies Market Size is expected to witness high growth, exhibiting CAGR of 12.9% over the forecast period, due to increasing prevalence of chronic diseases. Monoclonal antibodies occupy major market share owing to their high specificity and low toxicity.
Regional analysis
North America dominates the global antibodies market, driven by rising healthcare expenditure and frequent new product launches. Asia Pacific shows promising growth opportunities propelled by growing healthcare investments, rising medical tourism, and increasing affordability.
Key players
Key players operating in the antibodies market are Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd. These players are focused on expanding their product portfolios through collaborations and mergers & acquisitions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it