Research Nester’s recent market research analysis on “Bispecific Antibody Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global bispecific antibody market in terms of market segmentation by drugs, indication, end users, and by region.
Growing Efficacy of Bispecific Antibody to Promote Global Market Share of Bispecific Antibody
The global bispecific antibody market is estimated to grow majorly on account of the rising benefits of the bispecific antibody followed by higher approvals of the clinical trials for the same. Increasing studies and advancements have expanded the effectiveness of bispecific antibodies for improved treatments when weighed against standard monoclonal antibodies. Based on the findings of phase I/II clinical trial of REGN5459, patients with persistent multiple myeloma or who were treated with the two strongest dosages of REGN5459, which is a bispecific antibody addressing BCMA and CD3, had a 90.5% overall response rate. Owing to such tremendous results shown by the bispecific antibody, the approvals from the regulatory bodies have significantly improved.
Besides this, the growing cases of cancer are also anticipated to expand the industry size. Bispecific antibodies have the ability to reroute and stimulate immune cells in order to selectively target cancer cells. Moreover, bispecific antibodies are essential in cancer immunotherapy because they direct immune cells to selectively target faulty cells. By 2040, the global incidence of cancer is expected to reach 27.5 million new cases and 16.3 million cancer-related fatalities. On the other hand, the rising cases of autoimmune diseases and other rare diseases will also augment the demand for bispecific antibodies. Moreover, the government is also taking initiatives to provide effective treatment for the patient suffering from rare diseases.
Some of the major growth factors and challenges that are associated with the growth of the global bispecific antibody market are:
Growth Drivers:
· Surging Prevalence of Cancers
· Rising Development of Bispecific Antibody
Challenges:
There is a lack of proper reimbursement policies and many developing countries still don’t have great healthcare facilities are some of the major factors anticipated to hamper the global market size of bispecific antibodies. Developing countries often have a shortage of hospitals, clinics, and healthcare centers, particularly in rural areas. Developing countries often suffer from a shortage of skilled healthcare professionals. Inadequate healthcare systems hinder the provision of advanced therapies, medicines, and healthcare workforce. On the other hand, the development of therapies and drugs has exorbitant expenditures. These operations necessitate substantial investment in scientific talent, laboratory space, and equipment. Research and Development (R&D) expenses take up a sizable share of total drug development spending.
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Based on end users, the global bispecific antibody market is segmented into home care, hospitals, and specialty clinics. The hospital’s segment is likely to begin in the largest market share by the end of 2035 growing at a significant CAGR over the forecast period. This growth of the segment is on account of rising hospital admissions. In the United States, approximately 25% of patients died in a hospital, with 62% having been admitted at least once in the previous month. On the other hand, on the basis of indication, the market is further fragmented into autoimmune diseases, oncology, and others. Out of all, the oncology segment is expected to dominate the market. There have been various research and development for cancer patient and the cases of cancer is also rising rapidly.
Further, the industry revenue in Europe, amongst the market in all the other regions, is projected to have a great value by the end of 2035. Immunotherapy harnesses the immune system of the body to fight diseases, one of the examples is cancer immunotherapy, which has gained considerable attention in Europe. Bispecific antibodies play a vital role in immunotherapy by redirecting immune cells to target defective cells specifically.
This report also provides the existing competitive scenario of some of the key players of the global bispecific antibody market which includes company profiling of Innovent Biologics, Ltd., Affimed GmbH, Pieris Pharmaceuticals, Inc., Mereo BioPharma Group plc, TG Therapeutics, Inc., Pfizer Inc., GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., and AbbVie, Inc.
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