Antibody Drug Conjugates Market is Estimated To Witness High Growth Owing To Development of Nanomedicine-based Therapeutics
The Antibody Drug Conjugates Market is estimated to be valued at US$ 5.38 billion in 2023 and is expected to exhibit a CAGR of 14.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antibody drug conjugates (ADCs) are monoclonal antibodies linked to cytotoxic agents. They specifically deliver chemotherapy agents to cancer cells, minimizing toxicity to healthy tissues. ADCs combine the high selectivity of monoclonal antibodies with the cancer-cell killing ability of cytotoxic drugs. This allows sensitive discrimination between healthy and diseased tissue for efficient, targeted treatment of various cancers like lymphoma and breast cancer.
Market key trends:
The development of nanomedicine-based therapeutics is a key trend driving the antibody drug conjugates market. ADCs leverage nanotechnology by delivering cytotoxic agents at the molecular level using antibodies. This allows targeted release of therapeutics only in cancerous cells. Researchers are exploring ways to optimize the antibody-drug linkage and maximize payload delivery while minimizing toxicity. For example, novel cleavable linkers are being developed that degrade under specific tumor microenvironment conditions like low pH. This ensures drugs are released preferentially inside cancer cells. Ongoing advancements in nanomedicine and targeted drug delivery offer immense potential to improve the efficacy and safety profile of ADCs.
Porter's Analysis
Threat of new entrants: Low economies of scale in R&D and manufacturing pose challenges for new entrants.
Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over drug prices.
Bargaining power of suppliers: Specialized components and technologies required limits the threat from suppliers.
Threat of new substitutes: Continuous innovation in drug development makes the threat of substitutes high.
Competitive rivalry: Intense competition exists between established players in the market.
SWOT Analysis
Strengths: Continuous technological advancements and rise in funding for R&D. Growing demand for targeted cancer therapies.
Weaknesses: High costs associated with drug development and manufacturing. Complex regulatory environment delays market entry.
Opportunities: Untapped growth potential in emerging markets. Increasing collaborations widens product pipelines.
Threats: High failure rate of drug candidates in clinical trials. Pressure to lower drug prices impacts revenues.
Key Takeaways
The Global Antibody Drug Conjugates Market is expected to witness high growth, exhibiting CAGR of 14.2% over the forecast period, due to increasing prevalence of cancer worldwide. North America dominated the market in 2023 due to presence of major players and advanced healthcare infrastructure in the region. The US Food and Drug Administration approved 17 new cancer drugs between 2017 to 2021, thereby driving regional growth.
Europe is forecast to be the fastest growing market during the analysis period owing to rising healthcare spending, large patient pool, and ongoing clinical trials in countries like Germany, UK, and France.
Key players operating in the Antibody Drug Conjugates market are AstraZeneca PLC, Daiichi Sankyo Company, Limited, Novasep, ADC Therapeutics SA, Alentis Therapeutics AG, F. Hoffmann-La Roche, Gilead Sciences, Inc., AbbVie Inc., Biosion USA, Inc., Astellas Pharma Inc., Duality Biologics (Suzhou) Co. Ltd., BioNTech SE, LaNova Medicines Ltd., Bliss Biopharmaceutical, Eisai Co., Ltd., ProfoundBio, Pfizer, Inc., ImmunoGen Inc., Mersana Therapeutics Inc., Sorrento Therapeutics Inc., Oxford BioTherapeutics Ltd, and Takeda Pharmaceutical Company Ltd.