Antibody Therapeutics Market Size to Grow USD 364180 Million by 2029 at a CAGR of 11% | Valuates Reports
BANGALORE, India, Jan. 21, 2024 /PRNewswire/ -- Antibody Based Therapeutics Market is Segmented by Type (Monoclonal Antibodies, Bi-Specific Antibodies Therapy, Antibody-drug Conjugates), by Application (Immune Diseases, Cancer): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Pharmaceuticals & Biotech.
Antibody Based Therapeutics Market is projected to reach USD 364180 Million in 2029, increasing from USD 175410 Million in 2022, with a CAGR of 11.0% during the period of 2023 to 2029.
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Major Factors Driving the Growth of Antibody Based Therapeutics Market
A number of reasons, including developments in biotechnology, notably in the area of monoclonal antibody technology, which has improved the specificity and effectiveness of antibody-based treatments, are driving the expansion of the antibody therapeutics market. The need for precise and focused therapies has increased due to the rising frequency of chronic diseases worldwide. Antibodies play a critical role in treating situations including cancer, autoimmune disorders, and infectious diseases.
Additionally, the use of antibodies has increased due to the emergence of targeted treatments and personalized medicine, which provide a customized approach to meet the needs of each patient. The medical community's rising acceptance of antibody therapies is partly due to their expanding applicability, particularly in cancer and autoimmune illnesses.
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TRENDS INFLUENCING THE GROWTH OF ANTIBODY THERAPEUTICS MARKET
The market for antibody therapies is expanding due to the rising incidence of chronic illnesses worldwide. Treatments for illnesses including cancer, autoimmune disorders, and infectious infections are increasingly dependent on antibody-based medicines, which are created to target certain disease pathways. The market for antibody therapies is growing as a result of the increased need for accurate and efficient treatment interventions brought on by the growing prevalence of certain diseases. The market for antibody treatments has grown dramatically as a result of technological breakthroughs, notably in the field of monoclonal antibodies (mAbs). Antibody-based therapies are becoming more widely used in a variety of medical domains because of advancements in the creation, engineering, and manufacturing of monoclonal antibodies, which have improved their specificity, decreased immunogenicity, and raised therapeutic effectiveness.
The development of antibody therapies has been accelerated by the era of personalized medicine. Antibodies provide a focused and selective means of treating illnesses, particularly as personalized medicines become more and more in demand. They are an important tool in the development of personalized therapy methods because of their capacity to target specific antigens or receptors linked to certain illnesses. Particularly in the field of cancer, immunotherapy—a class of therapies that use the body's immune system to fight diseases has become widely accepted. As an essential part of immunotherapy, antibody therapeutics are being included in cancer treatment plans more and more, which is fueling the market's expansion because they work well and have fewer side effects than conventional therapies.
The market has grown tremendously due to the growing use of antibody therapies in autoimmune illnesses. Antibodies possess the ability to regulate immune responses and selectively target pathways implicated in autoimmune illnesses. This allows for more effective and customized therapy choices for ailments including multiple sclerosis, lupus, and rheumatoid arthritis. The aging population and accompanying demographic shifts have fueled the market expansion for antibody therapies. Due to the increased risk of chronic illnesses among the elderly population, there is a growing need for efficient and focused therapies. Antibody-based treatments are ideal for meeting the healthcare demands of an aging population due to their specificity and decreased adverse effects.
The usage of antibody therapeutics has increased due to the move towards combination treatments, which combine many medications for maximum effectiveness. The research and application of combination treatments across a range of illness indications are encouraged by the synergistic effects and enhanced treatment results that may be achieved by combining antibodies with other therapeutic agents.
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ANTIBODY THERAPEUTICS MARKET SHARE ANALYSIS
The Market for Antibody Therapeutics is dominated by North America because of the region's strong healthcare system, intensive R&D, and high rate of chronic illness. Because there are so many pharmaceutical and biotechnology firms in the US working on creating and promoting antibody-based treatments, the US market is growing at a significant rate.
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Key Players:
- AbbVie
- Johnson & Johnson
- Novartis
- Gilead Sciences
- Roche
- Bristol–Myers Squibb
- Amgen Inc
- Astrazeneca plc
- Merck
- Takeda
- Merck KGaA
- Seagen
- Eli Lilly
- Ono Pharmaceutical
- Pfizer Inc
- Regeneron
- Innovent
- Hengrui Medicine
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