The antibody drug conjugates market size is projected to reach US$ 38,077.45 million by 2031 from US$ 8,105.65 million in 2023. The market is estimated to record a CAGR of 21.3% during 2023–2031. Expanding clinical trial pipeline is likely to bring new trends to the market in the coming years.
Antibody Drug Conjugates Market Analysis
The regulatory landscape has evolved to support the faster approval of antibody-drug conjugates. Regulatory agencies are increasingly recognizing the unique benefits of these therapies, which has led to streamlined approval processes for promising candidates. This shift is crucial in a market where time-to-market can significantly impact the commercial success of products. Thus, the increased availability of approved antibody-drug conjugates with significant investments in research and development, the expansion of approved indications, supportive regulatory frameworks, and a rising demand for targeted biologic therapies propel the growth of the market. As the demand for more effective and targeted treatment options continues to grow, pharmaceutical companies and biotechnology firms are channeling substantial resources into the R&D of antibody-drug conjugates. Pfizer Inc., Genentech, Gilead Sciences, and many other pharmaceutical companies invest significantly in antibody-drug conjugate development projects. According to Novotech, globally, there were over 900 industry-initiated, ongoing antibody-drug conjugate trials from 2018 to 2022; Asia Pacific accounted for over a third of these trials. Next to the US and Europe, Mainland China, South Korea, Australia, Japan, and Taiwan were the frequently involved Asian locations, and nearly 60% of Asian trials were led by Mainland China. Thus, robust research and development investments are expected to create significant trends in the antibody-drug conjugates market in the future.
Antibody Drug Conjugates Market Overview
The antibody-drug conjugates market is experiencing robust growth, driven by advancements in targeted therapies and increasing investments in oncology. Integrating innovative technologies, such as linker chemistry and payload development, is pivotal in improving antibody drug conjugates performance. Additionally, the expanding pipeline of ADC candidates in clinical trials for autoimmune diseases, among other conditions beyond cancer, indicates a promising future. Overall, the ADC market is poised for significant expansion, reflecting a shift toward more precise and effective therapeutic options in modern medicine. The withdrawal of Blenrep (belantamab mafodotin) by the US US Food and Drug Administration (FDA) in December 2022 due to severe ocular toxicity concerns has significantly impacted the multiple myeloma treatment landscape. Overall, the loss of this product could hinder innovation and investments in the oncology segment, affecting long-term growth prospects.
Several antibody-drug conjugates are currently in Phase 3 trials, focusing on validating their efficacy and safety in larger patient populations. The future launch of ADCs that are in Phase 3 trials by 2028 will significantly reshape the oncology landscape, providing patients with innovative treatment options and potentially increasing market revenues.
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Antibody Drug Conjugates Market: Strategic Insights
Market Size Value in US$ 8,105.65 Million in 2023 Market Size Value by US$ 38,077.45 Million by 2031 Growth rate CAGR of 21.3% from 2023 to 2031 Forecast Period 2024-2031 Historic Period 2021-2022
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Antibody Drug Conjugates Market: Strategic Insights
| Market Size Value in | US$ 8,105.65 Million in 2023 |
| Market Size Value by | US$ 38,077.45 Million by 2031 |
| Growth rate | CAGR of 21.3% from 2023 to 2031 |
| Forecast Period | 2024-2031 |
| Historic Period | 2021-2022 |
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Antibody Drug Conjugates Market Drivers and Opportunities
Increase in Availability of Approved Products Drives Market Growth
Investments in antibody-drug conjugates facilitate the discovery of new therapeutic targets and accelerate the development of innovative antibody-drug conjugates that have greater effectiveness and fewer side effects than traditional therapies. The approval of new products enhances treatment options for patients, particularly in oncology, where antibody-drug conjugates are increasingly recognized for delivering cytotoxic agents directly to cancer cells, minimizing damage to healthy tissues. In April 2024, Pfizer Inc. and Genmab A/S received full approval from the FDA on supplemental Biologics License Application (sBLA) for TIVDAK (tisotumab vedotin-TFTV) for the treatment of patients suffering from recurrent or metastatic cervical cancer with disease progression on or after chemotherapy.
The extension of indications approved for existing antibody-drug conjugates also contributes significantly to market growth. As more indications are approved, the potential patient population for these therapies increases, leading to higher sales and market penetration. Moreover, this trend boosts the market size and encourages further research and development by creating a positive feedback loop that fosters innovation and approval of new products. In October 2023, Daiichi Sankyo and Merck & Co., Inc. entered into a global development and commercialization agreement for Daiichi Sankyo's DXd antibody-drug conjugate candidates: patritumab deruxtecan (HER3-DXd), ifinatamab deruxtecan (I-DXd), and raludotatug deruxtecan (R-DXd). The companies will jointly develop and potentially commercialize these antibody-drug conjugate candidates worldwide, except in Japan, where Daiichi Sankyo will maintain exclusive rights. Daiichi Sankyo will be solely responsible for manufacturing and supply.
Expansion into New Indications to Generate Significant Growth Opportunities
The expansion into new indications is creating significant opportunities in the antibody-drug conjugates market. As antibody-drug conjugates are primarily designed to deliver cytotoxic agents directly to cancer cells while sparing healthy tissues, their ability to target specific tumor-associated antigens makes them highly versatile. This versatility allows for exploring antibody-drug conjugate applications beyond their initial indications, i.e., hematological malignancies and certain solid tumors.
Many cancers currently lack adequate treatment options, and antibody-drug conjugates targeting new biomarkers can serve as innovative therapies against these challenging conditions. For instance, antibody-drug conjugates are being investigated for treating breast, lung, and bladder cancers, among others, where traditional therapies may not yield satisfactory results. AstraZeneca and Daiichi Sankyo's Biologics License Application (BLA) for datopotamab deruxtecan (Dato-DXd) has been accepted in the US for the treatment of adult patients who have received prior systemic therapy for locally advanced or metastatic nonsquamous non-small cell lung cancer (NSCLC).
Collaborations between pharmaceutical companies and research institutions foster further innovation in antibody-drug conjugate development. These partnerships often focus on identifying novel targets and optimizing linker technologies to enhance the efficacy and safety profiles of conjugates. Moreover, with the discovery and validation of new targets, antibody-drug conjugates are further being investigated for their potential utilization in the treatment of a broader range of cancer types. In June 2024, ArriVent BioPharma, Inc., a clinical-stage company dedicated to accelerating the development of innovative biopharmaceutical therapeutics, entered into a collaboration agreement with Jiangsu Alphamab Biopharmaceuticals Co., Ltd., a wholly owned subsidiary of Alphamab Oncology, to discover, develop, and commercialize novel antibody-drug conjugates for the treatment of cancers. Antibody-drug conjugates are poised to play a pivotal role in the future of targeted cancer therapies by capitalizing on the rising prevalence of cancer, addressing unmet medical needs, and fostering collaborative innovations. Thus, an expansion into new indications presents a wealth of opportunities for the antibody-drug conjugates market.
Antibody Drug Conjugates Market Report Segmentation Analysis
Key segments that contributed to the derivation of the antibody drug conjugates market analysis are technology, application, target, distribution channel, and geography.
- The antibody drug conjugates market, based on technology, is segmented into cleavable linker and non-cleavable linker. The cleavable linker segment held a larger share of the market in 2023, and it is expected to register a significant CAGR during 2023–2031.
- Based on application, the antibody drug conjugates market is segmented into blood cancer, brain cancer, breast cancer, ovarian cancer, lung cancer, and others. The breast cancer segment held the largest share of the market in 2023.
- The antibody drug conjugates market, based on target, is segmented into HER2, CD22, CD30, and others. The HER2 segment held the largest share of the market in 2023, and it is expected to register a significant CAGR during 2023–2031.
- The antibody drug conjugates market, based on distribution channel, is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacies segment held the largest share of the market in 2023, and it is expected to register a significant CAGR during 2023–2031.
Antibody Drug Conjugates Market Share Analysis by Geography
The geographic scope of the antibody drug conjugates market report is divided into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America dominated the market in 2023. The burgeoning incidence of cancer is a leading factor propelling the demand for antibody-drug conjugates in these countries. In addition, market growth in the region is attributed to increasing research and development; rising product approvals; growing awareness about novel conjugates; and a surge in mergers, collaborations, and partnerships. The highest number of antibody-drug conjugates have been approved in the US. Several antibody-drug conjugates are in the pipeline in the US. Several conjugates have been developed with advanced conjugate and linker technologies, more potent payloads, and new antigen targets. According to the FDA’s data published in May 2021, 113 clinical trials were in studies for 77 novel antibody-drug conjugates that targeted over 40 different targets. As of January 2021, the US FDA had approved Mylotarg, Lumoxiti, Adcetris, Kadcyla, Enhertu, Trodelvy, Besponsa, Polivy, Padcev, and Blenrep for several cancer indications. In September 2021, the FDA expedited the approval of Tivdak (tisotumab vedotin-tftv), developed by Seagen and Genmab. This treatment is a conjugate that combines a tissue factor-directed antibody with a microtubule inhibitor. It is administered as an intravenous infusion and is intended for women with recurrent or metastatic cervical cancer that has progressed during or after chemotherapy. Further, in 2023, AstraZeneca's Truqap (capivasertib) and Faslodex (fulvestrant) received regulatory approval in the US for the treatment of adult patients suffering from HR-positive and HER2-negative locally advanced or metastatic breast cancer with biomarker alterations (PIK3CA, AKT1, or PTEN).
Growing business expansion activities by companies in the antibody-drug conjugate market in the US to strengthen their market positions in different regions further support the market growth. In September 2020, Merck announced an expansion plan for its highly potent active pharmaceutical ingredient (HPAPI) and antibody-drug conjugate manufacturing capabilities with a valuation of US$ 62.02 million (€59 million) at its Madison, Wisconsin facility. With this investment, the company aimed to enhance the large-scale production of potent compounds for cancer therapies, alongside creating ~50 full-time jobs starting in 2021 after the anticipated completion by mid-2022.
Antibody Drug Conjugates Market Report Scope
Antibody Drug Conjugates Market News and Recent Developments
The antibody drug conjugates market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the market are listed below:
- AstraZeneca constructed a manufacturing facility dedicated to antibody drug conjugates in Singapore. Valued at US$ 1.5 billion, the facility will work to improve the global supply of its antibody drug conjugates portfolio. Antibody drug conjugates are advanced treatments designed to deliver powerful cancer-fighting agents directly to cancer cells using targeted antibodies. (Source: AstraZeneca, Company Website, November 2024).
- Daiichi Sankyo and AstraZeneca received conditional approval for ENHERTU (trastuzumab deruxtecan) in China. This treatment is indicated for adult patients with unresectable, locally advanced, or metastatic NSCLC that have HER2 (ERBB2) mutations and have received prior systemic therapy. Full approval will depend on the results of a confirmatory trial. (Source: Daiichi Sankyo, Company Website, October 2024)
Antibody Drug Conjugates Market Report Coverage and Deliverables
The "Antibody Drug Conjugates Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Antibody drug conjugates market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Antibody drug conjugates market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Antibody drug conjugates market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the antibody drug conjugates market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 21.3% during 2023–2031.
North America dominated the market in 2023.
Strategic investments by key players and an increase in the availability of approved products are among the significant factors fueling the market growth.
Expanding clinical trial pipeline is expected to emerge as a prime trend in the market in the coming years.
ADC Therapeutics SA, Pfizer Inc, F. Hoffmann-La Roche Ltd, Daiichi Sankyo Co Ltd, GSK Plc, Gilead Sciences Inc, AstraZeneca Plc, Astellas Pharma Inc, RemeGen Co Ltd, Takeda Pharmaceutical Co Ltd, Merck KGaA, Johnson & Johnson, Bristol-Myers Squibb Co, BioNTech SE, and AbbVie Inc are among the key players in the market.
The antibody drug conjugates market value is expected to reach US$ 38,077.45 million by 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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