Market Research Future (MRFR) assessed the global antibody drug conjugate market 2021 over the analysis period. Over the evaluation tenure (from 2017 to 2023), the antibody drug conjugate market is expected to expand at 19% CAGR. By 2023, the antibody drug conjugate market can garner considerable revenue.
Market Drivers and Restrains
Antibody drug conjugates is gaining reputation as the new age of therapeutic agents for treating cancer. The targeting specific advantage offered by antibody drug conjugates and the cytotoxic nature of drugs that can kill cancer cells are observed to contribute to the growing demand for antibody drug conjugate. The emergence of antibody drug conjugate as the ideal treatment of different forms of cancers can underpin the expansion of the market. The efficacy of administration of antibody drug conjugate and their high success rate are other causes that can favor the expansion of the market over the analysis period.
The ongoing adoption of advanced medical technology and inclination of physicians towards the application of cytotoxic drug is boosting the demand for antibody drug conjugate drugs. On the contrary, high expense for procedures and drop in fund can restraints the antibody drug conjugate market in the years to come.
Regional Assessment of Antibody Drug Conjugate Market
In North America, the rapid adoption of disruptive medical technology for a large patient population can prompt the expansion of antibody drug market in the near future. The upsurge of the antibody drug conjugates market can be attributed to the rise in number of obese adults and children, and increase in number of people in the ageing group.
The robust medical and research infrastructure in North America supports preclinical research and increase in research undertakings for antibody therapies and the adoption of advanced drug discoveries for oncology diseases can underpin the market growth in the near future. In addition, the collaboration between research institutes, biotechnology, and biopharmaceuticals companies, can add to the market rise in the review period.
Antibody Drug Conjugate Market Key Players
Seattle Genetics (US), AbbVie Inc. (US), Agensys, Inc. (US), Bayer HealthCare (Germany), Progenics Pharmaceuticals (US), Astellas Pharma/Agensys (Japan), Mersana Therapeutics (US), Heidelberg Pharma (Germany), Synthon (US), ImmunoGen, Inc. (US), Genentech (US), Roche Holding AG (Switzerland), Concortis Biotherapeutics (US), Antikor (UK), Oxford BioTherapeutics (US), Immunomedics (US), Pfizer Inc. (US), Millennium Pharmaceuticals (US), and Celldex Therapeutics (US) are some reputed companies in the antibody drug conjugate market that are listed by MRFR in the latest report.