The global next-generation antibody therapeutics market was worth $1,490.0 million in 2014, and it is expected to grow at a CAGR of 20.9% during 2015-2020. Oncology based next-generation antibody therapeutics dominated the global market in 2014. Whereas, on the basis of technology, the antibody-drug conjugates (ADCs) accounted for the highest share in the global next-generation antibody therapeutics market in the same year. The next-generation antibody therapeutics market is escalating with high growth rate due to several favorable macro-economic factors, including increased R&D activities. In addition, increasing incidence of chronic diseases is also driving the next-generation antibody therapeutics market at a significant rate. Next-generation antibody therapeutics is more advantageous as compared to traditional antibodies. Moreover, treatment using next-generation antibody therapeutics has lesser side effects as compared to other treatment options; as a result, the market for next-generation antibody therapeutics is expected to boost in near future.

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Advancements in antibody technology have helped in the development of next-generation antibody therapeutics, such as ADCs and BsAbs, with improved features. Technological advancements in antibody therapeutics have been imparting positive impact on next-generation antibody therapeutics market, as people are increasingly adopting next-generation antibody therapeutics for getting efficient treatment. Next-generation antibody therapeutics market in developing economies, such as Asia-Pacific, Africa, and Latin America, have been growing at a significant pace due to rising economic active population, which is increasing people’s buying power; and increasing awareness for getting effective treatment.

Government initiatives to provide complete healthcare with improved healthcare facilities are increasing the demand for advanced treatment options. Increasing healthcare expenditure makes next-generation antibody therapeutics reasonably priced, and hence, raising its adoption rate. Rising global gross domestic product (GDP) and increasing healthcare expenditure in various countries have a positive impact on growth of the next-generation antibody therapeutics market.

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As a result of high potential of ADC technology, healthcare providers are specifically using ADC technology for the development of next-generation antibody therapeutics for the treatment of cancer. ADCs help in providing targeted therapy with minimum side effects in patients with cancer. The ADCs market, which increased at a CAGR of approximately 87.2% during 2011-2014, also boosted the market for next-generation antibody therapeutics during the period.

The restraints associated with next-generation antibody therapeutics market include high cost of next-generation antibody therapeutics and strict regulatory requirements and long approval time for new drug. Drug development is a complex process and involves various risk factors. Drug approval requires passing through a regulation process that is rigorous and time-consuming. Hence, strict regulatory requirements and extended approval time for new drugs have a negative impact on the growth of the next-generation antibody therapeutics market. In addition, high cost of next-generation therapeutics decreases its popularity among healthcare providers and patients, thus limiting its use. Healthcare organizations and researchers are focusing on a cost-effective manufacturing process to produce next-generation antibody therapeutics.

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