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Bispecific antibodies are artificially engineered antibody molecules that can bind to two different antigens simultaneously. These antibodies are used in cancer immunotherapy to direct T cells and other immune cells to cancer cells that express specific tumor antigens. They have advantages over traditional monoclonal antibodies as they can bind to two different epitopes or two different target antigens. This dual targeting allows bispecific antibodies to redirect immune cells to kill cancer cells more efficiently. With their ability to engage immune effector cells and redirect them towards the tumor, bispecific antibodies are revolutionizing the field of cancer immunotherapy.
The global Bispecific Antibodies Market is estimated to be valued at US$ 41.08 Mn in 2023 and is expected to exhibit a CAGR of 29% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the bispecific antibodies market is increasing research and development focusing on improving bispecific antibody design and formats. Traditionally, bispecific antibodies had issues like heavy molecular weight, instability and short half-life. However, with advancements in molecular engineering and manufacturing technologies, newer bispecific antibody formats like dual variable domain immunoglobulin (DVD-Ig), knobs-into-holes, commashaped and others are being developed that have better stability, lower production costs and improved half-lives. Companies are also exploring bispecific antibodies for diseases beyond cancer like autoimmune disorders. As more bispecific antibodies get approved and enter the market, their adoption is expected to increase significantly driving the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the industry requires huge capital investments and strict regulations for drug development and approval which makes entry difficult for new players.
Bargaining power of buyers: The bargaining power of buyers is high owing to the presence of alternative treatment options. Buyers can switch to other therapies easily if price is not competitive.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of alternative suppliers of raw materials and reagents in the market.
Threat of new substitutes: The threat of new substitutes is high as research and development of novel drug candidates is continuously ongoing which can replace the existing bispecific antibody drugs.
Competitive rivalry: Intense as major players are involved in new product launches and collaborations to gain market share.
Key Takeaways
The global bispecific antibodies market is expected to witness high growth, exhibiting CAGR of 29% over the forecast period, due to increasing prevalence of cancer globally. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide and is responsible for an estimated 9.6 million deaths in 2018.
Regionally, North America is expected to dominate the bispecific antibodies market during the forecast period. This is attributed to growing geriatric population which is more prone to develop cancer, significant healthcare expenditure, and increasing number of clinical trials for cancer immunotherapy in the US. Asia Pacific is anticipated to exhibit the fastest growth rate over the next decade amid rising healthcare standards in regional countries and growing focus of market players.
Key players operating in the bispecific antibodies market are Amgen, Inc., Bayer AG, Dow Pharmaceutical Solutions, ImmunGene, Inc., Immunocore Limited, Merck & Co., Inc., Novartis AG, Pfizer, Inc., and F. Hoffmann-La Roche AG. Major players are involved in new product launches and collaborations to bolster their market presence. For instance, in March 2022, Immunocore launched and received FDA approval for KIMMTRAK (bimiralisib) for the treatment of unresectable or metastatic uveal melanoma.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
