The prevalence of chronic diseases is rising rapidly, which is attributed to factors such as poor diet, unhealthy lifestyle, and excessive consumption of alcohol and tobacco. Cancer is among the leading causes of mortality around the world. As per the World Health Organization (WHO), in 2012, about 14 million new cases were registered, and 8.2 million people died due to cancer across the globe. In addition to this, according to the WHO, 63% of the deaths globally were caused by non-communicable diseases in 2008. Since, next-generation antibody therapeutics offer better treatment options for chronic diseases with minimum side effects, their demand is growing.
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Antibody therapeutics which have improved efficacy, enhanced delivery, and are safer are referred to as next-generation antibody therapeutics. The next-generation antibody therapeutics market is projected to witness considerable growth in the coming years. Autoimmune/inflammatory and oncology are the two major therapeutic areas for which next-generation antibody therapeutics are utilized. Between these two, the larger demand for next-generation antibody therapeutics was created for oncology in the past. This is attributed to the fact that this treatment option provides benefits throughout the treatment of several cancer types, namely lung cancer, brain cancer, prostate cancer, colorectal cancer, and breast cancer.
Technological innovations in antibody therapeutics is a major factor resulting in the growing demand for next-generation antibody therapeutics. The utilization of advanced technologies, including bispecific antibodies technology, ADC technology, and glycoengineered antibody technology, in antibody therapeutics has led to the development of antibody therapeutics with enhanced characteristics. For example, bispecific antibodies are composed of two antibodies which target two different antigens. These antibodies are engineered to bind with tumor cells and cytotoxic for the treatment of cancer. Such advancements have aided in overcoming the limitations associated with monoclonal antibody therapeutics.
Out of all the regions, namely Asia-Pacific, North America, Europe, and Rest of the World, North America accounted for the major share of the next-generation antibody therapeutics market in the past and is further projected to contribute the largest revenue share to the market in the coming years as well. The reason for this is the increasing research & development (R&D) activities and technological advancements in antibody therapeutics in the region. Apart from this, the surging prevalence of chronic diseases and growing healthcare expenditure are also resulting in the rising demand for next-generation antibody therapeutics in the region.
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