Bispecific Antibody Market Expected to Reach $109.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Bispecific Antibody Market," The bispecific antibody market was valued at $5.5 billion in 2022, and is estimated to reach $109.4 billion by 2032, growing at a CAGR of 34.8% from 2023 to 2032.

Bispecific antibodies are artificial proteins that have promising applications in the field of cancer and immunotherapy. They are comprised of two monoclonal antibodies which are held together by a flexible peptide linker.  This makes them able to bind to two different antigens, as the name suggests. The unique properties of bispecific antibodies make them versatile therapeutic agents. They improve therapy effectiveness, target certain cell types, and address complex disease pathways. Bispecific antibodies act as a bridge between cancer cells and cytotoxic T lymphocytes (CTLs). They bind CD3 antigens on CTLs and a specific antigen on cancer cells, which in turn activates the T cells, promotes the lysis of cancer cells, and make bispecific antibody effective in cancer treatment.

Rise in the number of adoptions of key strategies such as collaborations and partnerships, business expansion, and increase in R&D by market players of bispecific antibodies drive the growth of bispecific antibody market. In addition, bispecific antibodies are commonly used in cancer and auto-immune diseases. Thus, rise in the prevalence of chronic diseases such as cancer, auto-immune diseases and others is expected to witness the growth of the bispecific antibody market during the forecast period. For instance, in February 2023, according to the WHO, global cancer incidence increased by 26%, alongside a 21% increase in cancer deaths.

Moreover, increase in the number of product approvals for bispecific antibodies is anticipated to drive the growth of the market. For instance, in June 2023, Genentech, a biotechnology company, announced that Food and Drug Administration (FDA) approves  columvi of Genentech, the first and only bispecific antibody with a fixed-duration treatment for people with relapsed or refractory diffuse large b-cell lymphoma. Moreover, in February 2023, Pfizer Inc., a premier biopharmaceutical company of the world, announced the U.S. Food and Drug Administration (FDA) has granted priority review for the company’s biologics license application (BLA) of the company for elranatamab, an investigational B-cell maturation antigen (BCMA) CD3-targeted bispecific antibody, for the treatment of patients with relapsed or refractory multiple myeloma (RRMM)

In addition, in December 2022, Genentech, a biotechnology company, announced the approval of mosunetuzumab from Food and Drug Administration (FDA) for people with relapsed or refractory follicular lymphomain. Mosunetuzumab is the first CD20xCD3 T-cell engaging bispecific antibody approved by the FDA for the treatment of any type of non-Hodgkin’s lymphoma.

However, factors anticipated to restrain the bispecific antibody market size are complex manufacturing process, immunogenicity, lack of specificity, cross-reactivity, and hypersensitivity reactions. In addition, long-term studies and post-marketing surveillance are necessary to monitor the safety profile of bispecific antibodies over extended periods.  Thus, any potential delays or rare adverse effects that may arise are anticipated to hamper the growth of the market.

On the basis of product, the bispecific antibody market size is classified into blinatumomab, emicizumab, and others. Others includes elranatamab, mosunetuzumab, glofitamab, and zenocutuzumab. The blinatumomab segment is expected to be the fastest-growing segment during the forecast period owing to the increase in incidences of leukemia and rise in technological advances in the field of cancer treatments.

On the basis of application, the bispecific antibody market analysis is classified into cancer, hemophilia, and others. Others includes autoimmune diseases, neovascular age-related macular degeneration, and Alzheimer disease. The hemophilia segment is projected to be the fastest growing segment during the forecast period, owing to a rise in the number of populations suffering from hemophilia and increase in the awareness among the people regarding treatment of hemophilia.

On the basis of end user, the bispecific antibody market share is classified into hospitals, cancer centers, and others. The hospitals segment is projected to be the fastest growing segment during the forecast period owing to rise in the number of initiatives taken by government for development of healthcare infrastructure and rise in the prevalence of chronic diseases and autoimmune diseases.

On the basis of region, North America had the highest bispecific antibody market share in 2022 and is expected to maintain its lead during the forecast period owing to increase in prevalence of cancer, growth in demand for next-generation antibody therapeutics, and technological advancement in the healthcare sector. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to the fact that this region has large and growing population, which is susceptible to the rise in prevalence of infectious diseases, rise in the number of product approvals for bispecific antibodies and increase in the strategic partnership among the market players.

Key findings of the study

• On the basis of product, the blinatumomab segment dominated the bispecific antibody industry in 2022.
•  On the basis of application, the hemophilia segment dominated the bispecific antibody industry in 2022.
•  On the basis of end user, the hospitals segment dominated the bispecific antibody market forecast in 2022.
•  On the basis of region, North America dominated the bispecific antibody market trends in 2022 and is expected to grow during the forecast period.