Market Is Estimated To Witness High Growth Owing To Its Promising...

Market Is Estimated To Witness High Growth Owing To Its Promising Pipeline And Strong R&D Investments

Posted 2023-10-31 07:12:22

The Antibody Drug Conjugates Market is estimated to be valued at US$ 5.38 billion in 2023 and is expected to exhibit a CAGR of 14.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Antibody-drug conjugates (ADCs) are bioconjugate compounds used for targeted drug delivery. They consist of monoclonal antibodies attached to a small-molecule drug or cytotoxic agent. The monoclonal antibody helps target the cancer cells and the cytotoxic agent then kills those cells. ADCs help deliver highly potent anti-cancer drugs directly to the tumor while limiting side effects in non-cancerous cells.

Market Dynamics:
The growing antibody drug conjugates market is driven primarily by its promising pipeline and strong R&D investments from major players. Several late-stage pipelines are expected to be commercialized during the forecast period, propelling market growth. For instance, AstraZeneca's Enhertu was approved in 2019 for HER2-positive breast cancer and non-small cell lung cancer indications. Furthermore, rising incidence of cancer worldwide has increased demand for targeted therapies like ADCs. Moreover, approvals of novel ADCs to treat blood cancers and solid tumors are also augmenting the market growth. However, high costs associated with developing ADCs and complex manufacturing processes pose challenges to market players.