Major players in the bi-specific MAbs or bispecific monoclonal antibodies market are Johnson & Johnson, Novartis AG, Hoffmann-La Roche Ltd. , Novo Nordisk A/S, Bayer AG, Thermo Fisher Scientific, Inc. , Bistro-Myers Squibb.
New York, June 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bi-Specific MAbS Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06090630/?utm_source=GNW
Mylan N.V., Daiichi Sankyo Company, Ltd., Abbott, and AstraZeneca.
The global bi-specific MAbS market is expected to grow from $2.93 billion in 2020 to $3.75 billion in 2021 at a compound annual growth rate (CAGR) of 28%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10 billion in 2025 at a CAGR of 28%.
The bi-specific MAbs or bispecific monoclonal antibodies market consists of sales of bispecific monoclonal antibodies and related services.Bi-Specific MAbs are artificial proteins that can bind two or more antigens into a single product.
Bispecific monoclonal antibodies are used to improve immune response in various medical conditions and finds its applications in the field of drug delivery and cancer immunotherapy.
The bi-specific MAbs market covered in this report is segmented by type into catumaxomab (removab); blinatumomab; duligotumab; SAR 156597. It is also segmented by product type into in vivo; in vitro, by indication into cancer; autoimmune diseases; inflammatory diseases; infectious diseases; microbial diseases; others and by end use into hospitals; research institutes; others.
The availability of various alternative treatment methods for cancer is expected to limit the growth of the bispecific monoclonal antibodies market.Alternative cancer treatment therapies and methods used for the treatment of cancer including dietary treatments, acupuncture, homeopathy, and herbal remedies are gaining popularity in recent years attributed to side effects of chemotherapeutic anticancer agents.
For instance, Ayurvedic medicine, an ancient Indian system of medicine uses a range of techniques and treatments for cancer.Many of the herbs used in Ayurveda have anti-cancer properties, for example, andrographis paniculata.
According to the World Health Organization (WHO), some nations are still responding to plant-based treatment as their main medicine source and developing nations are using the benefits of natural compounds for therapeutic purposes.Therefore, this affects the biologic sales, and hence impacting the bi-specific MAbS market.
Also, the global homeopathic product market was valued at $5.6 billion in 2018 and is projected to reach $18.6 billion by the end of 2027, growing at a CAGR of 14% during the forecast period. The less expensive alternative medicines increase competition for the biologics market, thereby, hindering the growth of the bi-specific MAbs market in the near future.
Companies in the bi-specific MAbS market are increasingly investing in various strategic initiatives such as collaborations and partnerships to expand the product portfolio and geographical presence of the company. For instance, in June 2020, AbbVie Inc., a US-based biopharmaceutical company entered into a collaboration agreement with Genmab A/S, a Danish biotechnology company, to develop and commercialize antibody therapeutics for cancer treatment. The companies together will work on three early-stage bispecific antibody candidates of Genmab A/S including DuoHexaBody-CD37, epcoritamab, and DuoBody-CD3x5T4 along with discovering new antibody therapeutics. Moreover, in July 2020, Atreca, Inc., a US-based clinical-stage biotechnology company, and Xencor, Inc. entered into a strategic partnership to develop, discover, and commercialize Novel T cell engaging bispecific antibodies as potential therapeutics for oncology treatment. Xencor, Inc. is a US-based biopharmaceutical company developing engineered monoclonal antibodies for cancer and autoimmune disease treatment.
In September 2018, Otsuka Pharmaceutical Co., Ltd., a pharmaceutical company based in Tokyo, completed the acquisition of Visterra Inc. and the company’s antibody engineering platform for an amount of $430 million. The acquisition is expected to help Otsuka Pharmaceutical Co., Ltd. to build proprietary drug development and discovery efforts through company programs including nephrology and other diseases. Visterra, Inc. is a US-based biotechnology company engaged in developing antibody-based therapies for kidney and other hard-to-treat diseases. Visterra Inc.’s Hierotope platform aims to develop antibody-based therapies that modulate and bind to targets. The platform of the company includes engineering for bispecific antibodies and antibody-drug conjugates.
The increasing prevalence of cancer and other chronic diseases is projected to contribute to the growth of the bispecific monoclonal antibodies market over the forecast period.Bispecific monoclonal antibodies are developed for the treatment of various cancers, infectious diseases, central nervous system disorders, and autoimmune disorders.
Bispecific monoclonal antibodies are considered to be more effective over monoclonal antibodies (moAbs) as these target two or more tumor antigens on cells to disrupt cancer progression. According to the World Health Organization, cancer is the second leading cause of death worldwide and is responsible for an estimated 9.8 million deaths in 2018. Additionally, according to the Centers for Disease Control and Prevention, chronic diseases are among the most prevalent diseases with 6 out of 10 adults suffering from at least one chronic disease in the USA. Therefore, a rising number of chronic diseases including cancer is anticipated to propel the demand for bi-specific MAbs market to treat these diseases effectively.
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