Antibody Drug Conjugates Market Size Worth $ 22.87 Billion By 2030Posted by Neha Bora on February 24th, 2023 San Francisco, 24 Feb 2023: The Report Antibody Drug Conjugates Market Size, Share & Trends Analysis Report Application (Blood Cancer, Breast Cancer, Urothelial/Bladder Cancer), By Technology (Cleavable, Non-cleavable), By Payload Technology, And Segment Forecasts, 2022 - 2030 The global antibody drug conjugates market size is expected to reach over USD 22.87 billion by 2030, registering a CAGR of 16.4% during the forecast period, according to a new report by Grand View Research Inc. The presence of strong pipeline products and strategic initiatives undertaken by the key players are expected to drive the market growth during the forecast period. Key players such as ADC Therapeutics, Seagen. Inc., Takeda Pharmaceutical Company Limited, F. Hoffmann-La Roche Ltd., AstraZeneca, Daiichi Sankyo, and others are collaborating to develop and commercialize products. For instance, in February 2022, Mersana Therapeutics, partnered with Janssen Pharmaceutical Companies, a subsidiary of Johnson & Johnson Inc., for the research and development of novel ADCs to treat various cancers. Under this agreement, Janssen will pay Mersana Therapeutics USD 40.0 million upfront and potentially more than USD 1.0 billion in milestone-based payments for the development of new ADCs. Extensive research and rising funding for the development of novel antibody-drug conjugates by pharmaceutical companies is projected to drive market growth. For instance, in April 2021, Adcendo and Adcentrx, two new startups raised funding of around USD 112.0 million for the development of ADCs with their new approach to the treatment of cancer. Adcendo raised USD 51.0 million for the development of new ADCs that target endocytic receptors, which play the role of the drug delivery body. Adcentrx raised USD 50.0 million for its ADC research programs. Additionally, in March 2022, ImmunoGen, Inc. announced the submission of biological license application (BLA) to the U.S. FDA for mirvetuximab soravtansine used as monotherapy in patients with ovarian cancer. It comprises alpha-binding antibody, cleavable linker, and the maytansinoid DM4 as payload to kill the targeted cancer cells. Stringent reimbursement policies for ADCs may restrain the market growth due to the high cost associated with the treatment of ADCs as compared to the alternative conventional treatments such as monoclonal antibodies therapy & chemotherapy. This higher cost of treatment is expected to impede reimbursement coverage. For instance, in February 2020, National Centre for Pharmaco economics, Ireland, gave a negative review for Roche’s Kadcyla (trastuzumab emtansine) for reimbursement consideration due to its low cost-effectiveness. The rising geriatric population coupled with the increasing prevalence of the diseases such as multiple myeloma (MM) is expected to drive demand for ADCs, thereby driving the market growth during the forecast period. Multiple myeloma (MM) is a disease of the aging population, and nearly 30,000 new cases of MM were diagnosed in 2021. The median age of diagnosed patients with multiple myeloma is 70 years. Thus, the introduction of new ADCs for the treatment of multiple myeloma is expected to boost market growth. For instance, in August 2020, the FDA approved BLENREP by GlaxoSmithKline as a monotherapy to treat relapsed or refractory multiple myeloma. Blenrep was the first anti-BCMA therapy approved for the treatment of multiple myeloma. Access Research Report of Antibody Drug Conjugates Market @ https://www.grandviewresearch.com/industry-analysis/antibody-drug-conjugates-market Antibody drug Conjugates Market Report Highlights
List of key players in the global Antibody Drug Conjugates Market
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