Next-Generation Antibody Market is expected to reach US$ 12,050.13 million by 2028

Oncology Segment, by Therapeutic Area, to Lead Market during 2021–2028

According to our new research study on “Next-Generation Antibody Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Therapeutic Area, and Technology,” the market is expected to reach US$ 12,050.13 million by 2028 from US$ 5,468.41 million in 2021; it is estimated to grow at a CAGR of 11.9% during 2021–2028. The report highlights trends prevailing in the market and factors driving its growth. The growth of the market is attributed to the rising prevalence of cancer worldwide and the increasing demand for next-generation antibody. However, the complications associated with manufacturing and approvals hamper the market growth.

Based on therapeutic area, the next-generation antibody market is bifurcated into oncology and autoimmune/inflammatory. The oncology segment held a larger share of the market in 2021. The same segment is anticipated to register a higher CAGR in the market during the forecast period due to the vast usage of next-generation antibody for cancers, high volume consumption, and product innovation for this field.    

Impact of COVID-19 Pandemic on Next-Generation Antibody Market

The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries, such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction in 2020. In the initial days of the COVID-19 outbreak, many sectors witnessed a negative impact on the total sales of most companies. The approval of monoclonal antibody services has expanded for the development of COVID-19 vaccines. The companies engaging in the next-generation antibody market witnessed a negative impact on their services in early 2020 due to the temporary shutdown of their laboratories. However, as lockdown limitations were gradually lifted, research laboratories across the world started reopening. As a result, most service providers prioritized actions to promote the critical work of consumers included in COVID-19 infection, such as giving a range of high-quality COVID-19 related research tools; reassigning R&D resources for producing essential products for SARS-Cov-2; expanding the supply chain; making flexibility to support expanded demand for enduring products applied for COVID-19 research; and entering into discussions and collaborations across the UK, US, and China concentrated on SARS-CoV-2 diagnostics, drugs, and vaccines development. Considering these, the impact of the COVID-19 pandemic on the next-generation antibody market has been positive.

F. HOFFMANN-LA ROCHE LTD.; Kyowa Kirin Co., Ltd.; Seagen Inc.; ImmunoGen, Inc.; Takeda Pharmaceutical Company Limited; Amgen Inc.; Pfizer Inc.; Catalent Inc; AstraZeneca; and Xencor are among the leading companies operating in the next-generation antibody market.

Next-Generation Antibody Market, by Region, 2021 (%)

The next-generation antibody market, by therapeutic area, is bifurcated into oncology and autoimmune or inflammatory. Based on technology, the market is segmented into antibody-drug conjugates, bispecific antibodies, fc engineered antibodies, antibody fragments and antibody-like proteins, and biosimilar antibody products. By geography, the next-generation antibody market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East and Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East and Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).