Recombinant therapeutic antibodies and proteins form a class of biopharmaceutical drugs used for various therapeutic applications. Antibodies form the largest segment owing to their high specificity and affinity to bind targets involved in various diseases. Monoclonal antibodies target specific proteins exhibited by diseased cells and tissues, providing considerably less toxic approach for conditions like cancer and autoimmune disorders. Further, antibody-drug conjugates are increasingly being used for targeted delivery of cytotoxic molecules directly to the tumor cells. Recombinant proteins find applications as replacement therapies for treating deficiency disorders and enzymatic diseases. Factors such as increasing research activities in drug discovery, rising demand for biologics over conventional drugs, and growing incidence of chronic diseases are propelling the global recombinant therapeutic antibodies and proteins market.
The global Recombinant Therapeutic Antibodies and Proteins Market is estimated to be valued at US$ 125.5 billion in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.”
Market key trends:
One of the key trends in the recombinant therapeutic antibodies and proteins market is the increasing demand for biosimilar drugs. The expiry of blockbuster biologics patents has created opportunities for biosimilar drugs which exhibit similar efficacy at lower costs compared to reference biologics. This is prompting researchers to develop biosimilar versions of approved antibody therapeutics at lower costs to expand patient access. Patent expiry of major drugs like Humira, Avastin, Rituxan and Herceptin is expected to boost approval and commercialization of biosimilar versions in the coming years, providing cost-effective treatment alternatives.
Porter’s Analysis
Threat of new entrants: The high capital requirements and costs associated with R&D act as a barrier for new players. Bargaining power of buyers: The demand for recombinant therapeutic antibodies and proteins is growing due to their benefits over conventional drugs. However, buyers have moderate bargaining power due to the availability of substitutes. Bargaining power of suppliers: Few biotech and pharmaceutical companies have the capabilities for manufacturing recombinant therapeutic proteins and antibodies. This gives them moderate bargaining power. Threat of new substitutes: Development of targeted drug delivery and gene therapies pose a threat to recombinant therapeutics. Competitive rivalry: The market is dominated by major players investing heavily in R&D. Intense competition exists to develop novel products.
Key Takeaways
The Global Recombinant Therapeutic Antibodies And Proteins Market is expected to witness high growth.
Regional analysis focused on North America being the largest market currently due to growing prevalence of chronic diseases and increasing healthcare spending. Europe is also a major shareholder owing to supportive regulatory environment and advancing research capabilities in the region.
Key players operating in the Recombinant Therapeutic Antibodies and Proteins are Amgen, Abbott Laboratories, Eli Lilly & Co., Bayer AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Merck & Co., Novo Nordisk, Sanofi.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
