The bispecific antibodies market has gained importance over the last few years owing to its wide application in cancer immunotherapy. Bispecific antibodies help in bridging effector T-cells and target cancer cells, thereby enhancing tumor cell killing. They bind to two different epitopes or two different antigens either on the same target cell or on two different target cells simultaneously. This ability makes them an important component of modern cancer treatment strategies.
The global bispecific antibodies market is estimated to be valued at US$ 41.08 Mn in 2024 and is expected to exhibit a CAGR of 29% over the forecast period 2023 to 2030.
Key Takeaways
Key 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.
Key opportunities: Increased funding for research and development of novel bispecific antibodies as cancer therapeutics represents a key opportunity. Growing demand for personalized medicine is also opening up new avenues.
Technological advancements: Technological advancement in antibody engineering techniques such as knobs-into-holes, CrossMab, and common light chain approaches have enabled economical production of bispecific antibodies at large scale. This is supporting market growth.
Market drivers: Wide application of bispecific antibodies in cancer immunotherapy is a major market driver. Increasing cancer incidence worldwide is necessitating development of advanced treatment solutions, providing momentum. Launch of novel formats such as trifunctional antibodies is further fueling revenue generation.
Current challenges in Bispecific Antibodies Market
The bispecific antibodies market is currently facing several challenges which can hamper the growth of this market. Developing robust and scalable manufacturing processes for producing bispecific antibodies is one of the major challenges faced by players in this market. Bispecific antibodies have complex structures which make their production challenging. Ensuring product purity and stability also poses challenges during manufacturing. High development and production costs associated with bispecific antibodies restrict their adoption. Long development cycles and regulatory hurdles for approval further challenge the growth of this market.
SWOT Analysis
Strength: Robust pipeline with over 300 candidates in clinical trials. Dual targeting ability provides improved efficacy and safety compared to conventional drugs.
Weakness: Complex molecular structure increases manufacturing challenges and costs. Long development cycles and regulatory requirements.
Opportunity: Rising demand for personalized therapies in oncology and other disease areas. Increasing R&D investments by players to develop next-gen bispecific antibodies.
Threats: High entry barriers due to capital requirements and manufacturing expertise. Safety and efficacy concerns can impact product approvals. Intense competition from other novel drug classes.
Geographically, North America is expected to dominate the bispecific antibodies market during the forecast period. Significant research activities coupled with presence of leading players in the US drives the market in this region. Asia Pacific exhibits the fastest growth and rising healthcare investments by governments in the region provides opportunities for market players. China, Japan, and India are emerging as major lucrative markets in Asia Pacific.
Europe follows North America in terms of market value share majorly due to growing cancer prevalence and supportive regulatory environment in the region. Germany dominates the European market owing to focus of players on R&D and manufacturing activities in the country.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
