Antibody Drug Conjugates Market Size Predicted to Reach USD 4,670 Million By 2026
According to the report, The global Antibody Drug Conjugates market in 2019 was approximately USD 2,000 Million. The market is expected to grow above a CAGR of 12.9% and is anticipated to reach over USD 4,670 Million by 2026.
Antibody drug conjugates are usually used to treat cancer and therefore are better and safer than most other cancer therapies. The increased incidence of cancer growth combined with the development of the geriatric population is likely to have an impact on the Antibody-Drug Conjugates market. Moreover, major innovative progressions are likewise adding to drive the development. As estimated by the World Health Organization (WHO), the number of individuals aged 65 years or more is projected to reach 16 % of the total population by 2050, compared to 7% in 2000. Maturing has become a significant hazard factor for various illnesses including cancer and others. Consequently, the developing geriatric populace is projected to drive the development of the market over the figure time frame.
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The worldwide market for ADC is expected to be driven by the advancement of clinical innovation. The key drivers of the market are the increasing prevalence of cancer, the development of mature populations, and the increase in large populations. Besides, the expanding research exercises on immune response treatments, preclinical examination, more exploration on cutting edge tranquilize revelations and expanding research on oncology infections and the developing joint effort between research foundations, Biotechnology, and Biopharmaceuticals organizations is likewise going about as a fuel to the market and is relied upon to drive the market of ADC inside the estimate time frame. However, the significant expense of the methodology and the lack of funds can be the restriction for the development of this market.
The Antibody Drug Conjugates industry has been segmented on the basis of drugs, application, mechanism of action, and region. The drugs segment is divided into adcetris and kadcyla. Further, the mechanism of action segment is classified as HER2 antibodies and CD30 antibodies. Additionally, the application segment is classified as lymphoma, breast cancer, and others.
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The major players operating in the market are Synthon Holding B.V., Seattle Genetics Inc., Sanofi S.A., Progenics Pharmaceuticals Inc., Pfizer, Inc., Immunomedics, Inc., Immunogen Inc., Genentech Inc., Celldex Therapeutics Inc., and Bayer Healthcare Pharmaceuticals among others. Major operating players in the Antibody Drug Conjugates market concentrate on manufacturing more advanced, reliable, and cost-effective masks to lead to the growth of revenues in the industry.
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I think that the rising incidence of cancer, the maturation of populations, and the growth of big populations are the main factors driving the market.
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