Dublin, March 25, 2021 (GLOBE NEWSWIRE) -- The "Bi-Specific MAbS Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
Bi-Specific MAbS Global Market Report 2020-30: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global bi-specific mabs market.
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. Mylan N.V., Daiichi Sankyo Company, Ltd., Abbott and AstraZeneca.
The global bi-specific MAbs market was valued at about $1.56 billion in 2019 and is expected to grow to $2.93 billion in 2020 at a compound annual growth rate (CAGR) of 87.6%. The COVID-19 restrictions caused a slowdown in growth from 2018 due to missed patient visits affecting potential new patients who deferred the care, whereas existing patients remained on their treatment. However, with the sales beginning to recover slowly, the market is expected to stabilize and reach $6.12 billion by 2023 at a CAGR of 27.8%.
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.
Key Topics Covered:
1. Executive Summary
2. Bi-Specific MAbS Market Characteristics
3. Bi-Specific MAbS Market Size And Growth
3.1. Global Bi-Specific MAbS Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Bi-Specific MAbS Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Bi-Specific MAbS Market Segmentation
4.1. Global Bi-Specific MAbS Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Bi-Specific MAbS Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Bi-Specific MAbS Market, Segmentation By Indication, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.4. Global Bi-Specific MAbS Market, Segmentation By End Use, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Bi-Specific MAbS Market Regional And Country Analysis
5.1. Global Bi-Specific MAbS Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Bi-Specific MAbS Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Johnson & Johnson
Hoffmann-La Roche Ltd.
Novo Nordisk A/S
Thermo Fisher Scientific, Inc.
Daiichi Sankyo Company, Ltd.
Merck & Co. Inc.
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