The Size of the Asia Pacific Antibody Drug Conjugates Market is valued at USD 1.95 billion in 2022 and poised to grow at a CAGR of 28.56%, to reach USD 6.86 billion by 2027 during the forecast period 2022 to 2027.
The growing prevalence of cancer and the increasing geriatric population, are driving the market growth of the APAC antibody-drug conjugates market. According to Globocan Data 2020, 52% of people with cancer are 65 years of age or older, and this number is predicted to be double by 2040. Lung cancer is the most common in China, followed by stomach, liver, colon, rectum, and breast cancers.
The prevalence of lung cancer was highest in men, followed by cancers of the abdomen at 41%, liver at 37%, esophagus at 17%, and colorectal cancer at 13%. The aged population is reported to have more cancer rate than younger people. According to the article on the aging of the world population published in 2019, the proportion of the population over 65 will approach 17% worldwide by 2050. The World Health Organization (WHO) estimates that by 2050, 82% of older people will live in Organization for Economic Co-operation and Development countries (OECD). The aging of the population will have profound consequences for health systems. According to Globocan, in 2020, around 49.5% of cancer cases worldwide were recorded in Asia. Therefore, this region remains a significant untapped market for antibody-drug conjugates.
Antibody-drug conjugates are used in the field of oncology and hematology as well. Around 8.5 million people die of cancer each year around the world. Doctors worldwide focus on providing cutting-edge drugs and therapies to treat cancer cells without compromising healthy cells. Owing to the high prevalence of cancer due to genetic predispositions, unhealthy lifestyle, and occupational hazards, there has been an increase in cancer treatment in hospitals. Some aggressive cancers like leukemia, hepatocellular carcinoma, and other hematological disorders have benefited from using antibody-drug conjugates.
With the approvals of antibody-drug conjugates, treatment options have grown exponentially than conventional chemotherapy, developing customized therapies. Recent technological developments are navigating key market players towards collaborations between laboratories, research and development center, and hospitals to improve the effectiveness and efficiency of antibody-drug conjugates. All these factors above are anticipated to drive the Asia Pacific antibody-drug conjugates market in the years to come.
Recently, in an article published by the American Cancer Society in 2022, there was a 52% decrease in breast cancer diagnoses, while a 25% decrease in pancreatic cancer diagnoses in 2020. Due to the reduction in the diagnosis of certain types of cancers, the APAC antibody-drug conjugates market is expected to face challenges for market growth. Additionally, Factors such as strict government regulations, high cost of the drugs and treatment options, and lack of awareness about antibody-drug conjugates will experience restraints in market growth during the forecasted period.
This research report on the Asia Pacific Antibody Drug Conjugates Market has been segmented and sub-segmented into the following categories
By End User:
Geographically, the Asia Pacific area is the fastest-growing market. In the APAC region, China and India are set to experience a reasonable growth rate due to a large drug manufacturing base, demand for the latest research and development, a company with a large senior population, and the availability of trained professionals. Additional factors include:
Other APAC regions' other noteworthy regional markets include Singapore, Japan, Australia, and South Korea. These regional markets will also contribute to the growth of the APAC antibody-drug conjugate market attributed to demand for better treatment options and the presence of adequate funds.
KEY MARKET PLAYERS
Top Companies dominating the Asia Pacific Antibody Drug Conjugates Market Profiled in the Report are Seattle Genetics, Genentech, Takeda Pharmaceuticals, F. Hoffmann-La Roche, Bayer Healthcare, Agensys, Inc., Immunogen, Novartis, Oxford Biotherapeutics, and Synthon Biopharmaceuticals.
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