Antibody-drug Conjugates Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Antibody Drug Conjugates Market Analysis

The Antibody-drug Conjugates Market size is estimated at USD 12.05 billion in 2024, and is expected to reach USD 44.05 billion by 2029, growing at a CAGR of 29.57% during the forecast period (2024-2029).

The COVID-19 pandemic had a notable impact on the antibody-drug conjugates market since many cancer consultations and treatments were postponed or canceled due to the lockdown restrictions. For instance, according to the National Health Service (NHS) of the United Kingdom, in 2023, there was a shortfall in cancer treatments during the pandemic, driven by a sharp drop in urgent referrals as people needed the stay-at-home due to the lockdown restrictions, which significantly reduced the demand for overall cancer therapies including antibody-drug conjugates.

Moreover, according to the Annual Report 2022 of Seagen Inc., a leading manufacturer of antibody-drug conjugates, the COVID-19 pandemic had adverse impacts on the company's business, including commercialization efforts, supply chain, regulatory activities, clinical development activities, and others. Thus, the COVID-19 pandemic significantly impacted the business operations of antibody-drug conjugate manufacturing companies, thus impacting the sale of antibody-drug conjugates. However, the increasing approvals and launches of antibody-drug conjugates in the post-pandemic period attain growth in the market over the coming years.

The major factors responsible for the growth of the antibody-drug conjugates market include the growing prevalence of cancer, the increasing geriatric population, and increasing R&D activities for the development of novel therapeutics. Antibody-drug conjugates offer one of the most effective treatments for cancer patients. They can exploit the specificity of monoclonal antibodies toward targeted antigens for the release of potential cytotoxic drugs, with increased activity and decreased toxicity as compared to chemotherapies.

The rising incidence of cancer in various countries increases the usage of antibody-drug conjugates for treatment. For instance, according to the May 2022 update by the Canadian Cancer Society, 28,600 Canadian women were diagnosed with breast cancer in 2022, representing 25% of all new cancer cases in women in 2022. Also, on average, 78 Canadian women were expected to be diagnosed with breast cancer daily in 2022. Thus, owing to the high prevalence and increase in the probability of acquiring breast cancer among females, the demand for antibody-drug conjugates is likely to rise, fueling the market growth over the forecast period.

The increasing investments in the market are expected to boost the antibody-drug conjugates pipeline and expand its applications, which may positively impact the market's growth. For instance, in June 2022, Spirea Limited secured funding of GBP 2.4 (USD 3.06) million with investments from high-profile investors from the United Kingdom and the United States. The company uses these funds to initiate its pipeline of superior and differentiated antibody-drug conjugates in the treatment of solid tumors, thereby contributing to the growth of the market.

However, the stringent government regulations and high manufacturing costs of antibody drug conjugates are expected to restrain the market's growth over the forecast period.

Antibody Drug Conjugates Market Trends

Breast Cancer Segment accounted for the Largest Share of the Market

Antibody Drug Conjugates Industry Segmentation

Antibody-drug conjugates are a class of biopharmaceuticals designed for the treatment of cancer, comprising an antibody that specifically targets a tumor antigen and a cytotoxic compound connected via a chemical linker. These are intended to allow the specific targeting of the cytotoxic compound to kill cancer cells while having a limited effect on healthy tissue.

The antibody-drug conjugate market is segmented by product type (adcetris, kadcyla, and other product types), application (blood cancer, breast cancer, ovary cancer, lung cancer, skin cancer, brain tumor, and other applications), technology (cleavable linker and non-cleavable linker), target type (CD30 antibodies, HER2 antibodies, and other target types), end user (hospitals and specialty cancer centers, biotechnology and pharmaceutical companies, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.

The report offers the value in USD for the above segments.