With the emergence and long-term Impact of COVID-19, Global Bispecific Antibodies Market to reach USD 105.94 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Bispecific Antibodies Market points towards a potential rise to USD 105.94 Billion by 2030. Bispecific antibodies are a class of therapeutic proteins created to attach to two distinct target molecules simultaneously. These antibodies have two separate antigen-binding sites that recognize a different antigen or receptor because of genetic engineering. Bispecific antibodies assemble these molecules, control their interactions, or transport medicinal substances to body parts by attaching two distinct targets.
Bispecific antibodies provide several benefits compared to conventional monoclonal antibodies, which normally bind to a single target. They are used to target numerous disease-related pathways concurrently or to divert immune cells away from healthy tissue and toward tumor cells. The growing demand for targeted and personalized therapies, significant advancements in antibody engineering technologies, along with increasing collaborations and partnerships between local and international stakeholders are the key factors that are propelling the market demand during the estimated period.
Geographically, the global Bispecific Antibodies market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the increasing approval for several bispecific antibodies by regulatory bodies, growing investment in R&D activities, along with the presence of several leading market players. For instance, in October 2022, the first bispecific B-cell maturation antigen, teclistamab-cqyv (Tecvayli, Janssen Biotech, Inc.), received FDA approval.
In addition, companies are increasingly participating in partnerships and collaborations to use complementary scientific expertise and technology to create bispecific antibodies. These partnerships promoted research and development initiatives, which has further accelerated market expansion. Europe is expected to grow at a substantial CAGR over the forecast years. The surging demand for bispecific antibodies, rising focus on technological advancements, as well as increasing collaborations and partnerships between local and international stakeholders are significantly propelling the market demand across the region.
The global Bispecific Antibodies market is highly competitive owing to the presence of several key players such as Amgen, Inc. Bayer AG Dow Pharmaceutical Solutions ImmunGene, Inc. Immunocore Limited Merck & Co., Inc. Novartis AG Pfizer, Inc. F. Hoffmann-La Roche AG Akeso, Inc., and others.
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Key findings of the study suggest:
- Global Bispecific Antibodies Market is anticipated to grow with a healthy growth rate of more than 44.0% over the forecast period 2023-2030.
- In the Indication segment, Cancer emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the increasing approval for several bispecific antibodies by regulatory bodies, growing investment in R&D activities, along with the presence of several leading market players.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Indication:
- Cancer
- Inflammatory & Autoimmune Disorders
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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