February 28, 2024

The global Bispecific Antibodies Market driven by increasing cancer prevalence

Bispecific antibodies combine the binding properties of two monoclonal antibodies into a single molecular construct to target multiple antigens or activate T cells to fight cancerous cells. They have become an important class of cancer therapeutics in recent years as they provide more efficacious targeting by bringing a tumor-associated antigen and an immune cell receptor into close proximity. With rising cancer incidences worldwide, bispecific antibodies play a pivotal role in enhancing cancer immunotherapy through improved safety profiles, selectivity and anti-tumor potency.

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 the increasing clinical research to expand therapeutic applications. Several clinical trials are being conducted to evaluate the efficacy of bispecific antibodies in treating different types of cancer including hematologic and solid tumors. For instance, Amgen initiated a Phase 1/2 study in 2021 to evaluate the safety and efficacy of AMG 757, a tetravalent bispecific T cell engager targeting BCMA and CD3 in the treatment of relapsed or refractory multiple myeloma. Similarly, other players are exploring bispecific antibodies for autoimmune disorders, infectious diseases and cardiovascular conditions. As positive clinical evidences emerge, their adoption across various therapeutic areas is expected to rise considerably over the forecast period.

Porter’s Analysis

Threat of new entrants: The high capital requirement for R&D and manufacturing of bispecific antibodies acts as a barrier for new players entering this market.

Bargaining power of buyers: The presence of several global players developing biospecific antibodies provides buyers with better choice and competitive pricing.

Bargaging power of suppliers: Leading research organizations and drug manufacturers have significant influence on the development of new bispecific antibodies.

Threat of new substitutes: advent of novel drug delivery systems can pose potential threat to the bispecific antibodies market.

Competitive rivalry: Major players focus on expanding their product portfolios through collaborations and acquisitions to gain competitive edge in this market.

Key Takeaways

The global bispecific antibodies market is expected to witness high growth. 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.

North America region currently dominates the bispecific antibodies market due to presence of leading pharmaceutical companies and growing adoption of bispecific antibody therapies. Asia Pacific region is expected to grow at fastest pace during the forecast period driven by rising healthcare expenditure, increasing demand for cost-effective biologics, and growing collaborations between global pharma companies and domestic players.

Key players analysis comprising:

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 focusing on expanding their product portfolios and targeting lucrative regions to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it