Combination Antibody Therapy Market In-Depth Analysis 2017-2024

Global Market Study
on Combination
Antibody Therapy:
Antibody/Antibody Combination Segment Expected to Dominate
the Global Market Through 2024
Higher success ratio in treating and preventing cancer cells using combination
antibody therapy is fuelling the demand for combination antibody drugs in the
market. A study conducted by Persistence Market Research (PMR) shows that
the global market for combination antibody therapy is set to ride on a value
CAGR of over 14% during the period of assessment to reach US$ 144,734.5
Million by 2024 end. In 2016, the global market was valued at over US$ 49,994
Million characterizing the overwhelming popularity of antibody/antibody drugs
amongst both practitioners and patients observed in recent years.
Combination antibody therapy is receiving higher recognition from the
oncological branch of medical science research. This is primarily due to the
growing use of combination therapy over single drug treatments such as
radiation or chemotherapy. In addition, companies that manufacture
combination antibody drugs are actively focusing on developing superior drugs
that will deliver standout results. Factors such as encouraging government
policies, growing concerns over higher cancer prevalence worldwide, and
increasing research and development activities coupled with heavier
investments are expected to boost the overall market growth in the near future.
Likewise, healthy R&D pipelines are leading towards higher product offerings
and also propelling the growth of global combination antibody therapy market
to a significant extent.
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Bottlenecks
The prolonged attrition rate in product development cycle and arbitrary and
stringent drug approval procedures are the major downsides of the market that
are likely to inhibit the market growth during the forecast period. Moreover,
lack of awareness on understanding the difference between immunotherapies
and chemotherapies amongst healthcare professionals, which is restricting the
optimal use of immunotherapies alongside conventional treatment modalities is
an additional factor impeding the market growth. Further, late diagnosis or
ignorance of any carcinogenic disorders may inevitably lead to higher cost of
treatment.
Market Forecast
Based on combinations, antibody/antibody is projected to be the predominant
segment of the market over the forecast period. In terms of revenue, the
segment is expected to witness a healthy CAGR of over 17% between 2016 and
2024. The growth is attributed to the increasing preference of antibody/antibody
drugs as they have a lower risk of side effects for various cancer therapies.
Whereas, the chemotherapy/antibody segment will hold the second position,
accounting for 38.3% share of the market in 2016.
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Demand for combination antibody therapy will be high for breast cancer and
lung cancer treatment on the basis of applications. The lung cancer segment is
anticipated to expand at a value CAGR of 17.1% during the assessment period.
By end user, hospitals are expected to be the largest segment of the market
throughout the forecast period. In 2015, the segment was valued at US$
26,906.5 Million, which is expected to surpass US$ 95,885 Million by 2024
end, reflecting a CAGR of 15.2%.
From a regional perspective, North America will continue to be the leading
market for combination antibody therapy over the forecast period. In addition,
the region is set to witness a CAGR of over 13% in terms of value. Whereas,
APAC is expected to reflect the fastest growth of the market during the forecast
period in terms of value. Further, the market in the region is estimated to
witness a 3.4X growth in terms of sales over 2024 owing to increasing
prevalence of carcinogenic disorders in APAC.
Competitive Dashboard
Key participants functioning in the global market for combination antibody
therapy include Roche Holdings AG, Amgen Incorporated, Novartis AG,
Celgene Corporation, Biogen Inc., Seattle Genetics Inc., Genmab A/S, BristolMyers Squibb Company, Eli-Lilliy and Company and Sanofi.
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