Portland, OR, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Bispecific Antibody Market by Product (Blinatumomab, Emicizumab, and Others), Application (Cancer, Hemophilia, and Others) and End User (Hospitals, Cancer Center and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global bispecific antibody market was valued at $5.5 billion in 2022, and is projected to reach $109.4 billion by 2032, registering a CAGR of 34.8% from 2023 to 2032.
The bispecific antibody is an artificially developed antibody having the ability to bind to two different antigens or epitopes. These antibodies have numerous applications in healthcare sectors such as in oncology and treatment of infectious diseases and autoimmune diseases. Their revolutionary applications and versatility have made them a crucial component of R&D processes in the pharmaceutical and biomedical industries.
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Prime determinants of growth
Increasing prevalence cancer, autoimmune diseases, hemophilia and other is anticipated to increase in number of demands for bispecific antibody. Thus, this factor is anticipated to drive the growth of market. However, high cost associated to bispecific antibody and treatment of chronic diseases such as hemophilia and cancer is anticipated to hinder the growth of market. On the contrary, high presence of bispecific antibody providers and rise in initiative taken by government to develop healthcare infrastructure is expected to witness growth during the forecast period.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $5.5 billion |
| Market Size in 2032 | $109.4 billion |
| CAGR | 34.8% |
| No. of Pages in Report | 382 |
| Segments covered | Product, Application, End User and Region. |
| Drivers | Rise in prevalence of chronic disease High presence of market players who manufactures bispecific antibody. Increase in number of initiatives taken by the government for development of healthcare infrastructure |
| Opportunities | Rise in adoption of number of strategies by market players of bispecific antibody |
| Restraints | High cost of bispecific antibody and treatment of chronic disease such as cancer |
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The emicizumab segment to maintain its leadership status throughout the forecast period.
Based on product, the emicizumab segment held the highest market share in 2022, accounting for around three-fourths of the global bispecific antibody market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the rise in application of emicizumab for hemophilia treatment and effectiveness of emicizumab. However, the others segment is projected to manifest significant growth with a CAGR of 35.5% from 2023 to 2032, owing to the rise in number of product launch and product approvals for other bispecific antibody drugs.
The hemophilia joints segment to maintain its leadership status throughout the forecast period.
Based on application, the hemophilia segment held the highest market share in 2022, accounting for more than four-fifths of the global bispecific antibody market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in prevalence of hemophilia and increase in awareness among the people regarding hemophilia. However, the cancer segment is projected to manifest a significant CAGR of 35.6% from 2023 to 2032, owing to rising prevalence of cancer.
The hospitals segment to maintain its leadership status throughout the forecast period.
Based on end user, the hospitals segment held the highest market share in 2022, accounting for nearly three-fifths of the global bispecific antibody market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in number of population taking treatment of hemophilia and cancer in hospital. However, the cancer center segment is projected to manifest a significant CAGR of 35.3% from 2023 to 2032.
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North America to maintain its dominance by 2032.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly three-fifths of the global bispecific antibody market revenue. This is attributed to high presence of bispecific antibody manufacturers in North America and rising prevalence of cancer and other chronic diseases. However, the Asia-Pacific region is expected to witness the fastest CAGR of 36.4% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to rising number of geriatric populations, as geriatric population is more susceptible to chronic diseases and increase in awareness among population regarding cancer treatment and hemophilia treatment. These factors are expected to boost the growth of the market.
Leading Market Players: -
The report provides a detailed analysis of these key players of the global bispecific antibody market. These players have adopted different strategies such as agreement, partnership, acquisition, and business expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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