The Europe next-generation antibody therapeutics market size is valued at USD 1.25 bn in 2023. It is expected to grow at a CAGR of 14.2% to reach USD 2.43 billion by 2028. It captures 25% of the global market.
The increasing prevalence of chronic diseases in the European region majorly drives the growth of the European next-generation antibody therapeutics market. Nearly 35% of the population suffers from chronic diseases in the EU. Furthermore, increasing neurological disorders among the population is also a significant reason for the rise of next-generation antibody therapies. Lifestyle changes, genetic disorders, stress and food habits are the primary reason for the cause of neurological disorders. In addition, some chronic diseases are cancer, cardiovascular disease and autoimmune disease. People suffering from these diseases prefer to undergo next-generation antibody therapies, which reduce the side effects of monoclonal antibody therapies.
The ongoing research and development efforts in the field of monoclonal antibodies with regulatory approval from the Food and Drug Administration and clinical validation from research centers contribute to the growth of the next-generation antibody therapeutics market in the European region. Manufacturers actively pursue the development of antibody therapies, particularly for infectious diseases. The market has witnessed significant growth following the pandemic, as the urgent need to address the high mortality rates associated with different variants of the coronavirus disease has driven demand for effective monoclonal antibody treatments.
An increasing number of advancements in next-generation antibody therapeutics boost the growth of the European next-generation antibody therapeutics market. Researchers are dedicated to developing therapies with reduced side effects. The growing investments from the governments of European countries, support from the pharmaceutical and biotechnology sector and novel approvals support the European next-generation antibody therapeutics market growth. Favorable government initiatives and policies promoting the adoption of next-generation antibody therapeutics, growing awareness and acceptance of advanced treatment options among healthcare professionals and patients, the expansion of the biopharmaceutical sector and availability of funding for antibody therapeutics in Europe drive the European market growth. The growing geriatric population and associated healthcare needs, the emergence of novel targets and biomarkers for antibody-based therapies and improved understanding of the immune system and its role in disease management further fuel the growth rate of the European market.
Stringent regulatory requirements and lengthy approval processes for new antibody therapeutics and high development costs and financial risks associated with research and clinical trials majorly hamper the growth of the European market growth. Limited reimbursement coverage for next-generation antibody therapies by healthcare systems, challenges in scaling up production and ensuring cost-effective manufacturing of complex antibody therapeutics and safety concerns and potential adverse effects associated with novel antibody therapeutics are other potential roadblocks to the growth rate of the European market. Limited accessibility and affordability of advanced therapies in certain regions or healthcare settings and poor awareness and understanding among healthcare professionals and patients about the benefits of next-generation antibody therapeutics further hinder the European market growth.
This research report on the Europe next-generation antibody therapeutics market has been segmented and sub-segmented into the following categories:
By Therapeutics:
By Technology:
By Country:
The European region had the second largest share of the global market in 2022 and is predicted to grow at a healthy CAGR during the forecast period owing to the increasing number of advancements in the healthcare sector, a strong presence of key players, increased healthcare expenditure and dedicated programs for next-generation antibody therapy development. The growing awareness programs and initiatives aimed at educating the population about the availability of antibody therapies for specific diseases contribute to the European market growth. The growing geriatric population further contributes to market expansion.
The UK held the major share of the European market in 2022 and is estimated to grow at a prominent CAGR during the forecast period. The presence of numerous research centers dedicated to developing next-generation antibody therapies, particularly for cancer diagnosis in the UK majorly drives the UK market growth. The growing partnerships and favorable reimbursement policies further facilitate the growth of the UK market. Germany accounted for a considerable share of the European market in 2022 and is anticipated to register a healthy CAGR during the forecast period. Many hospitals in Germany are adopting antibody therapy and an increasing number of clinical trial centers are supporting the German market growth.
KEY MARKET PARTICIPANTS:
Roche, Seattle Genetics, Takeda, Dyax Corp., and Immunogen, Amgen, Inc., Biogen, Kyowa Hakko Kirin Co., Ltd., AstraZeneca, Pfizer, Inc., and Xencor, Inc. are some of the notable companies in the European next-generation antibody therapeutics market.
Frequently Asked Questions
Roche, Seattle Genetics, Takeda, Dyax Corp., and Immunogen, Amgen, Inc., Biogen, Kyowa Hakko Kirin Co., Ltd., AstraZeneca, Pfizer, Inc., are some of the key market players in the Europe next-generation antibody therapeutics market.
The Europe Stem Cell Assay market size is projected to reach USD 2.43 Million by 2028.
The growth rate of the Europe next-generation antibody therapeutics market is 14.2 % during the forecast period.
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