Global Bi-Specific Mabs Market Size 2024, Forecast To 2033
11 Mar, 2024
The bi-specific mabs market size has experienced rapid growth, reaching $8.81 billion in 2023 and is projected to further increase to $10.25 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. This remarkable expansion in the historic period can be attributed to heightened healthcare expenditure, increased funding, and government initiatives. Looking ahead to 2028, the market is anticipated to continue its robust growth, aiming for a valuation of $16.9 billion at a CAGR of 13.3%. Factors contributing to this forecasted surge include an escalating prevalence of cancer, a growing aging population, and an upswing in chronic diseases. Noteworthy trends in this period encompass a focus on technological advancements, product innovation, artificial intelligence integration, targeted and combination therapy investments, and strategic partnerships.
Global Bi-Specific MAbS Market Key Driver
The growth of the bispecific monoclonal antibodies market is expected to be fueled by the increasing prevalence of cancer and other chronic diseases. These antibodies are designed for treating various conditions such as cancers, infectious diseases, central nervous system disorders, and autoimmune disorders. Notably, bispecific monoclonal antibodies are considered more effective than monoclonal antibodies (moAbs) as they target two or more tumor antigens, disrupting cancer progression. In 2023, the Cancer Facts & Figures 2023 report from the American Cancer Society estimates approximately 609,820 cancer-related deaths in the USA. This rising number of chronic diseases, particularly cancer, is poised to drive the demand for bispecific MAbs, with the market size projected to grow from $X billion in 2023 to $Y billion in 2024 at a compound annual growth rate (CAGR) of Z%. Looking ahead to 2028, the market is anticipated to reach $W billion.
Get A Free Sample Of The Global Bi-Specific MAbS Market ReportGlobal Bi-Specific MAbS Market Segments
The bi-specific mabs market covered in this report is segmented –
1) By Type: Catumaxomab (Removab), Blinatumomab, Duligotumab, Emicizumab, Amivantamab, Faricimab, Teclistamab
2) By Product Type: In Vivo, In Vitro
3) By Indication: Cancer, Haemophilia A, Ophthalmic
4) By End Use: Hospitals, Research Institutes, Other End-Users
By Geography:The regions covered in the bi-specific mabs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the bi-specific MAbS market in 2023. The regions covered in the bi-specific mabs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Bi-Specific MAbS Industry Players
F. Hoffmann-La Roche AG, Amgen Inc, Johnson & Johnson, Innovent Biologics, Sino Biological Inc, Kyowa Kirin, Zai Lab, Alphamab Oncology, Celldex Therapeutics, Biocon, EpimAb Biotherapeutics, ABL Bio, Takeda pharmaceuticals, Innovent Biologics, EpimAb Biotherapeutics, Merck & Co Inc, Eli Lilly Company Inc., AbbVie Inc, Bayer AG, Pfizer Inc, Novartis AG, GlaxoSmithKline, AstraZeneca, Cytiva, Bristol Myers Squibb, AbCellera, Enteris BioPharma, BioMarin Pharmaceuticals, Parexel, Hikma Pharmaceuticals PLC, Sanofi S.A., Novo Nordisk A/S, BBI Solutions, Aspen Pharmacare, Amoun Pharmaceuticals CO Ltd, Baxter International, Cipla Medpro South Africa
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Bi-Specific MAbS Market Overview
Bi-specific MAbs or bispecific monoclonal antibodies refer to antibodies that have two binding sites and are designed to bind to two antigens that are either distinct or have two different epitopes. Monoclonal antibodies (MoAbs) do not have the clinical therapeutic effects of BsAbs, which have a wide range of applications for the treatment of different diseases as well as tumour immunotherapy.
Bi-Specific MAbS Global Market Report 2023 provides data on the global bi-specific mabs market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The bi-specific mabs market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.