According to the Report, the size of the North America Antibody Drug Conjugates Market is valued at USD 5.47 billion in 2023 and is estimated to be growing at a CAGR of 23.32% to reach USD 15.61 billion by 2028 during the forecast period 2023 to 2028.
An antibody-drug conjugate (ADC) is a biologically active drug used as targeted therapy in the treatment of cancer that is a highly potent drug in the biopharmaceutical industry. These drugs are chemically complex molecules intended to kill the cancer cells in the body, which are composed of antibody that is biologically linked to anticancer drugs. These drugs target multiple pathways and reduce the risk of developing treatment-resistant disorders in the body.
Factors like rising cancer incidences, changing lifestyles, high investments by the companies in pipeline analysis, cancer-killing ability and research development of ADCs, growing biomedical industry, new product innovations, and technological advancements are driving the North America Antibody Drug Conjugates Market. Nevertheless, the pharmaceutical industry's modernization helped the market get past obstacles, including finding a target, making a high-affinity antibody, having the ability to internalize, making linkers, and improving drug stability. National Cancer Institute projects that by 2024, there will be more than 19 million people still alive after a cancer diagnosis. During the study phase, there will undoubtedly be a rise in the need for cancer therapies that are both affordable and of good quality.
However, the high cost of production of ADCs and stringent regulations for product approval are hindering the market's growth. The high costs of cancer treatment make it extremely difficult to afford, and the low reimbursement policies from the government also support the hindrance to the market.
This research report on the North America Antibody Drug Conjugates Market has been segmented and sub-segmented into the following categories.
By End User:
On the basis of region, North America leads the global market, accounting for around 38% of the entire market share due to the increased government funding in research and the presence of large pharmaceutical companies in this region. Additionally, the growing number of cancer cases is promoting market growth in the region. For example, the estimated cancer stats according to the American cancer society in 2022 is that there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States, promoting market growth in the region. Additionally, the growing senior population in the region will support market expansion. For example, According to the U.S. Census Bureau, more than 56 million adults ages 65 and older live in the United States, accounting for about 16.9% of the nation's population.
Furthermore, the presence of prominent critical players with rising revenues is promoting the region's growth. For example, Seagen with estimated sales of $1 billion in 2021 and $1.3 billion in 2022, Daiichi Sankyo with estimated sales of $550 million in 2021, and ADC therapeutics with estimated sales of $23.1 million in 2021 and $79.1 million in 2022, etc. are all high revenue enterprises supporting the business. In addition, ADC research is a highly complex procedure that requires well-developed equipment and infrastructure for its development provided by several industries in the North American region supporting extensive R&D in the region.
Promising Companies dominating the North America 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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