Bispecific antibodies are antibodies that have binding sites for two different antigens or epitopes. They combine two monospecific antibodies together in one molecule to redirect immune cells to tumor sites. Bispecific antibodies allow for highly targeted delivery of immune effector cells to tumor sites, promising more efficacious treatment options with improved safety profiles over existing targeted therapies.
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:
Rising adoption of targeted therapies is expected to drive the bispecific antibodies market growth over the forecast period. Targeted therapy involves the use of drugs or other substances to identify and attack specific cancer cells without harming normal cells. Bispecific antibodies are used to deliver targeted immunotherapy for cancer by binding to two different antigens, typically a tumor-associated antigen and an activating receptor on T cells or NK cells to potentially enhance antitumor activity and improve clinical outcomes. Their ability to redirect the body’s immune cells to tumors is expected to result in better treatment outcomes compared to conventional chemotherapy or immunotherapy alone. This is expected to increase their demand and adoption in the pharmaceutical industry.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to high capital requirements and know-how required to produce bispecific antibodies. It also requires huge RD investments and dedicated manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers is low since there are limited alternatives and buyers cannot substitute bispecific antibodies easily.
Bargaining power of suppliers: The bargaining power of suppliers is low because there are many suppliers for raw materials, reagents, and consumables required for bispecific antibody production.
Threat of new substitutes: The threat of new substitutes is high as RD in advanced therapies is leading to new drug discovery and development.
Competitive rivalry: Competition in the bispecific antibodies market is high between leading players.
SWOT Analysis
Strength: Bispecific antibodies have novel mechanism of action and targets multiple antigens simultaneously. They provide better efficacy and safety compared to conventional monoclonal antibodies.
Weakness: High production costs, long development timelines, and complexity in manufacturing bispecific antibodies are some weaknesses.
Opportunity: Increasing RD investments in the oncology segment by pharma companies provides major growth opportunities. Rising demand for personalized medicine augurs well for market growth.
Threats: Stringent regulations for approval and commercialization pose significant threats to industry players. High failure rates during clinical trials also threaten revenue generation.
Key Takeaways
The global bispecific antibodies market is expected to witness high growth, exhibiting CAGR of 29% over the forecast period, due to increasing prevalence of cancer globally. The market size for 2023 is US$ 41.08 Mn.
Regionally, North America is expected to dominate the global market owing to presence of major players and rising cancer burden in the US. Asia Pacific is anticipated to exhibit fastest growth rate due to growing geriatric population, improving healthcare infrastructure, and rising awareness regarding bispecific antibody therapies.
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. These leading brands are undertaking strategic collaborations and new product launches to consolidate their market position.
