Antibody Drug Conjugates Market Size 2021 Expected to reach at 12.9% CAGR estimated to generate $3,198 million, Globally By 2025
Pune, Maharashtra, India, February 23 2021 (Wiredrelease) Allied Analytics –:Antibody drug conjugates is an unconventional and efficient anti-cancer drug. Continuous increase in demand for efficient and targeted cancer therapy medications are expected to drive the antibody drug conjugate market.
According to a new report published by Allied Market Research, titled, Antibody Drug Conjugates Market by Drugs, Mechanism of Action and Application: Global Opportunity Analysis and Industry Forecast, 2019-2025,” the global antibody drug conjugates market accounted for $1,387 million in 2016, and is estimated to reach at $3,198 million by 2023, registering a CAGR of 12.9% from 2019 to 2025.
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Increase in prevalence of cancer and rise in demand for efficient and cost-effective cancer treatments drive the market. Moreover, extensive research on drug development and large number of pipeline drugs for ADCs present in different stages of approvals are expected to boost the market growth. Approval of pipelined drugs increase the number of available ADC products, cumulatively spurring market turnover of ADCs.
However, strict regulation set by regulating authorities for approval of ADCs and complications associated with drug development impedes the growth of antibody drug conjugates market. Growth in adoption of ADCs over conventional cancer treatments and rapidly developing market in Asia-Pacific & LAMEA create opportunities for market players.
Key Findings of the Antibody Drug Conjugates Market:
– The Kadcyla segment is projected to grow at the highest CAGR in 2018 during the analysis period.
– Breast cancer segment generated the highest revenue in 2018 and is expected to continue its dominance in future.
– North America dominated the market
– China is expected to grow at the highest CAGR, in Asia-Pacific.
The key companies profiled in the report include F. Hoffman-La Roche Ltd., ImmunoGen, Inc., Bayer AG, Novartis AG, Immunomedics, Inc., Agensys, Inc., Takeda Pharmaceutical Company Limited, Seattle Genetics, Inc., Concortis Biotherapeutics, and NBE-Therapeutics.
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North America holds the highest market share in 2016 owing to high prevalence of cancer in the region and modern healthcare facilities for employment of novel therapeutic procedures. Moreover, adoption of experimental medicines and growth in awareness about antibody drug conjugates in the region is expected to boost the North American market. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period considering, high reported prevalence of cancer constituting a large patient pool.
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