Antibody-Drug Conjugates Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Antibody-Drug Conjugates Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Antibody Drug Conjugates Market size is expected to grow from USD 8.58 billion in 2023 to USD 25.34 billion by 2028, at a CAGR of 24.19% during the forecast period (2023-2028).

The COVID-19 pandemic had a strong impact on the antibody-drug conjugates (ADC) market. For instance, an article published by the American Cancer Society, in February 2021, reported that there was a 52% decline in the diagnosis of breast cancer and a 25% decline in the diagnosis of pancreatic cancer in the United States between March 2020 and April 2020, as compared to January 2020 and February 2020. Thus, COVID-19 impacted the antibody-drug conjugate market during the initial phase. However, the decreasing cases of COVID-19 and the resumption of various healthcare diagnosis services, as well as the rising cancer cases, are expected to boost the growth of the market over the forecast period.

The major factors responsible for the growth of the antibody-drug conjugates market include the growing prevalence of cancer, the increasing geriatric population, and increasing R&D activities for the development of novel therapeutics.

Antibody-drug conjugates offer one of the most effective treatments to cancer patients. They can exploit the specificity of monoclonal antibodies toward targeted antigens for the release of potential cytotoxic drugs, with increased activity and decreased toxicity as compared to chemotherapies. Antibody-drug conjugates use antibodies as a vehicle to deliver high-potential cytotoxic drug molecules to the specific tumor-related antigens for cancer treatment.

The increasing number of cancer cases globally is fuelling the growth of the studied market. For instance, the Globocan 2020 database reported that there were 19.3 million new cancer cases in 2020. The cancer cases are expected to increase to 21.8 million by 2025 and 28.8 million by 2040. The most prevalent cancer was breast cancer (11.7%), followed by lung cancer (11.4%), colorectal cancer (10%), prostate cancer (7.3%), stomach cancer (5.6%), and other cancers (53.9%). Thus, with the growing burden of cancer, there is an increasing demand for effective treatments, which may drive the market significantly during the forecast period.

The Globocan 2020 database also reported that 50% of people with cancer are aged 65 and over. This figure is expected to double by 2040. Thus, the increasing geriatric population is leading to increased cancer cases and driving the demand for antibody-drug conjugates. For instance, in 2022, United Nations factsheet reported that, in 2022, there were 771 million people aged 65 years or over globally. The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. Thus, the growing aging population may accelerate the prevalence of cancer and drive the market's growth.

The increasing investments in the market are expected to boost the antibody-drug conjugates pipeline and expand its applications, which may positively impact the market's growth. For instance, in June 2022, Spirea Limited secured funding of GBP 2.4 million with investments from high-profile investors from the United Kingdom and the United States. The company will use these funds to initiate its pipeline of superior and differentiated ADCs in the treatment of solid tumors, thereby contributing to the growth of the antibody drug conjugates market.

Technological advancements are driving the growth of the market. For instance, in February 2022, ImmunoGen Inc. entered a global, multi-year definitive licensing agreement whereby it granted Eli Lilly and Company exclusive rights to research, develop, and commercialize antibody-drug conjugates (ADCs) directed toward targets selected by Lilly based on ImmunoGen's novel camptothecin technology.

Similarly, in March 2022, Sanofi and Seagen Inc. entered a collaboration agreement to design, develop, and commercialize antibody-drug conjugates (ADCs) for up to three cancer targets. The collaboration will utilize Sanofi's proprietary monoclonal antibody (mAb) technology and Seagen's proprietary ADC technology. Thus, such collaborations are driving the growth of the antibody drug conjugates market.

The growing prevalence of cancer, the increasing geriatric population, and increasing R&D activities for the development of novel therapeutics are expected to drive the market's growth significanlty during the forecast period. However, the stringent government regulations, high cost of procedures, and lack of funds are expected to restrain the market's growth over the forecast period.

Antibody-drug Conjugates Market Trends

Breast Cancer Segment is Expected to Witness Significant Growth During the Forecast Period

The breast cancer segment is expected to witness significant growth over the forecast period due to the rising incidences of breast cancer worldwide. For instance, as per the 2020 Globocan databse, breast cancer incidences are expected to grow from 2.26 million people in 2020 to 3.19 million in 2040. This growth may drive the demand for effective therapeutics, such as antibody-drug conjugates, thus boosting the market studied.

HER2-positive breast cancer has been recognized to have a poor prognosis, with a median overall survival of 15 months with traditional chemotherapy treatments in the metastatic setting.The rising R&D studies proving the efficacy of antibody drug conjugates for treating breast cancer may also boost the market's growth. For instance, the study published in Nature Communications, in June 2021, reported that a dual-drug ADC exerts greater treatment effect and survival benefits than the co-administration of two single-drug variants in xenograft mouse models representing intratumor HER2 heterogeneity and elevated drug resistance. Therefore, the adoption of ADCs is expected to increase, driving the market's growth.

Similarly, a study published in the Journal of Experimental & Clinical Cancer Research, in March 2022, reported that the comparative genomic investigations between normal breast and TNBC tissues, as well as proteomic and bioinformatic analysis, led to the development of a catalog of prospective ADC targets. For example, the CD98hc transmembrane protein has been identified as an ADC target for breast cancer.

New studies and clinical developments are driving the growth of the segment. For instance, in December 2022, Ambrx Biopharma Inc. reported preliminary safety and efficacy data from its Phase 2 ACE‑Breast-03 study during a Spotlight Poster Presentation at the 2022 San Antonio Breast Cancer Symposium (SABCS). The data presented by the investigator demonstrated a 51.7% overall response rate and a 100% disease control rate (DCR) after treatment with ARX788 anti-HER-2 antibody drug conjugate. The molecule is indicated for the treatment of breast cancer reduction. Thus, such clinical trials are leading to the development of better antibody drug conjugates for the treatment of breast cancer.

The increasing R&D for breast cancer treatment, product approvals, partnerships, and improved survival rate are anticipated to drive the use of antibody-drug conjugates in the treatment of breast cancer, thus boosting the segment's growth.

North America is Expected to Witness Significant Growth During the Forecast Period

North America is expected to witness significant growth over the forecast period due to rising cancer cases and technological developments. The region is observing significant growth due to technological advancements in the region, such as the United States, Canada, and Mexico.

North America is a very developed region in terms of clinical information, and the utilization of ADCs is considered and makes up the vast majority of the established market. In April 2021, Pfizer acquired Amplyx Pharmaceuticals Inc. to develop antibody drug conjugates and several other therapies for cancer.

North American countries are marked by high cancer cases. The increasing number of cancer cases is driving the growth of the market in the region. For instance, in 2022, the American Cancer Society reported that there an estimated 1.9 million new cancer cases would be diagnosed in the United States in 2022. Similarly, in June 2022, Canada's Cancer Society reported that 233,900 people in Canada are expected to be diagnosed with cancer by the end of 2022. The source also reported that the most commonly diagnosed cancers are expected to be lung, breast, prostate, and colorectal cancers. Such a high prevalence of cancer cases increases the demand for cancer therapeutics, thereby boosting the antibody drug conjugates market in the country over the forecast period.

Approvals from regulatory authorities are propelling the market. For instance, in September 2021, Sutro Biopharma Inc. received the US FDA's Fast Track designation for STRO-002. It is a folate receptor alpha (FolRα)-targeting antibody drug conjugate (ADC) for the treatment of patients with platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer who have received 1-3 prior lines of systemic therapy.

Rising partnerships among companies to develop ADCs may further drive the market in the future. For instance, in February 2022, Adcentrx Therapeutics and AvantGen entered a three-year, multi-target partnership for the discovery of antibodies to be developed into novel ADC therapeutic candidates.

Thus, owing to the growing number of cancer cases and strategic partnerships among the key players, along with regulatory approvals, the North American antibody drug conjugates market is expected to grow significantly during the forecast period.

Antibody-drug Conjugates Industry Overview

The antibody-drug conjugates market is fragmented and competitive due to the presence of many companies globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold major market shares, including Seagen Inc., ImmunoGen Inc., Mersana Therapeutics Inc., Pfizer Inc., F. Hoffmann-La Roche Ltd, Sorrento Therapeutics Inc., Oxford BioTherapeutics Ltd, AbbVie Inc., Takeda Pharmaceutical Company Ltd, AstraZeneca PLC, ADC Therapeutics SA, Sterling Pharma Solutions Limited, Catalent Inc., and Antikor-M.

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