(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 04, 2024 (GLOBE NEWSWIRE) -- The "Global Antibody Therapeutics market by Format (Monoclonal, Polyclonal, Antibody Fragment, Bispecific), disease Area (Oncology, Autoimmune & Inflammatory, Neurology, Hematology, Infectious), Source (Human, Chimeric), Route (IV, SC) and Region - Forecast to 2028" report has been added to ResearchAndMarkets's offering. The global antibody therapeutics market is expected to reach USD 479 billion by 2028 from USD 247.3 billion in 2023, at a CAGR of 14.1%
This report provides a detailed picture of the antibody therapeutics market. It aims at estimating the size and future growth potential of the market across different segments, such as the format, disease area, route of administration, source, end-user and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Growth in the antibody therapeutics market is mainly driven by factors such as advancements in antibody engineering, the growing demand for oncology antibody therapeutics, and the growing clinical pipeline. Moreover, developing economies are expected to create opportunity areas for the growth of this market.
North America accounted for the largest share of the antibody therapeutics market. The large share of the North American region can be attributed to major factors such presence of technologically advanced infrastructure in healthcare settings offering antibody therapeutics, and easy accessibility to advanced therapeutics among others. Besides, the region has a well established healthcare system which further supports the growth of this market. Also, the presence of some of the key players in the market is another key factor. Some examples of these players include AbbVie Inc. (US), Johnson & Johnson (US), and Bristol-Myers Squibb (US).
The European antibody therapeutics market is projected to grow at the highest CAGR during the forecast period. This is attributed to one of the major factors including the growing initiatives for advancements of antibody therapeutics, increasing prevalence of chronic diseases and key players such as F. Hoffmann-La Roche Ltd. (Switzerland), AstraZeneca (UK), Sanofi (France) operating in the region.
By source, the human source segment accounted for the largest share of the antibody therapeutics market
Based on source, the antibody therapeutics market is categorized into human, humanized, chimeric and other sources. In 2022, humanized sources accounted for the highest growth rate owing to factors such as The rising demand for therapies (including antibody therapy) against cancer, increasing cancer prevalence, high effectiveness of humanized sourced antibodies against cancers and autoimmune & inflammatory diseases are the major factors driving the growth of this segment.
By route of administration, the intravenous segment accounted for the largest share in the antibody therapeutics market
Based on the route of administration, the antibody therapeutics market is segmented into the intravenous, subcutaneous and other routes of administration. In 2022, the intravenous route segment accounted for the largest share of the antibody therapeutics market. Growth in this market segment can be attributed to ease of administration, high effectiveness, presence of large marketed products and major focus of pipeline products on intravenous route.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 307 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $247.3 Billion |
| Forecasted Market Value (USD) by 2028 | $479 Billion |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
Premium Insights
Increasing Demand for Antibody Therapies in Treatment of Cancer to Drive Market Human Sources Accounted for Largest Share of North American Market in 2022 Intravenous Route of Administration Segment Dominated Market in 2022 Germany to Register Highest Growth During Forecast Period
Market Dynamics
Drivers
Advancements in Antibody Engineering Rising Demand for Oncology Therapeutics Advantages Offered by Therapeutic Antibodies Increasing R&D Activities for Innovative Therapeutics
Restraints
Stringent Regulatory Requirements
Opportunities
High Growth Potential of Emerging Economies Growing Focus on Collaborations for Drug Discovery & Development
Challenges
Complexities Associated with Manufacturing Processes
Company Profiles
Key Players
F. Hoffmann-La Roche Ltd. AbbVie Inc. Johnson & Johnson Merck KGaA Bristol-Myers Squibb Astrazeneca Sanofi Regeneron Pharmaceuticals Inc. Novartis AG Amgen Inc. Biogen Takeda Pharmaceutical Company Limited Pfizer Inc. Eli Lilly and Company Boehringer Ingelheim International GmbH GlaxoSmithKline PLC UCB SA
Other Players
Emergent Biosolutions Inc. Y-Mabs Therapeutics, Inc. Teva Pharmaceutical Industries Ltd. Ultragenyx Pharmaceutical Inc. H. Lundbeck A/S Celltrion Inc. Macrogenics, Inc. Morphosys AG
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Global Antibody Therapeutics Market
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