Report : Middle East and Africa Next-generation Antibody Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Therapeutic Area (Oncology, and Autoimmune or Inflammatory) and Technology (Antibody-drug conjugates, Bispecific antibodies, Fc engineered antibodies, Antibody fragments & antibody-like proteins, and Biosimilar antibody products)
The oncology segment by therapeutic area is estimated to lead the market growth during the forecast period.
According to a new market research study of “Middle East and Africa Next-generation Antibody Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Therapeutic Area, Technology and Country.” The Middle East and Africa (MEA) next-generation antibody market is expected to reach US$ 450.75 million by 2028 from US$ 222.59 million in 2021. It is estimated to grow at a CAGR of 10.6% from 2021 to 2028. The report highlights trends prevailing in the Middle East and Africa mobile next-generation antibody market and the factors driving market along with those that act as hindrances.
Rising developments in biotechnology have led to increasing acceptance for next-generation antibodies therapeutics, which is further driving its use in autoimmune, inflammatory, and chronic treatment diseases among others. Next-generation antibody treatments have resulted from the application of sophisticated technologies in antibody therapeutics such as antibody–drug conjugates (ADCs), glycoengineered antibodies, and specific antibodies (BsAbs). Therefore, applications of next-generation antibodies are being widely studied to treat various chronic diseases. The rising demand of these antibodies have resulted in the rapid increase in the approval of ADCs and other next-generation antibodies therapeutics. For instance, in May 2020, Takeda Pharmaceutical Company Limited announced the FDA approval of ALUNBRIG (brigatinib) for adult patients with anaplastic lymphoma kinase-positive (ALK+) metastatic non-small cell lung cancer (NSCLC) as detected by an FDA-approved test. ALUNBRIG's current indication has been expanded to encompass the first-line setting with its approval. ALUNBRIG is a next-generation tyrosine kinase inhibitor (TKI) that is designed to target ALK molecular abnormalities. Similarly, in 2019, Genentech announced FDA accelerated approval of Polatuzumab vedotin-piiq, a CD79b-directed antibody-drug conjugate indicated in combination with bendamustine and a rituximab product for adult patients with relapsed or refractory diffuse large B-cell lymphoma.
Moreover, rising investments from biopharmaceutical and pharmaceutical companies for the manufacturing and development of these next-generation antibodies are driving the growth of the market. In addition, contract manufacturing and development organizations (CDMOs) forges a link to next-generation antibody conjugates to offer even more comprehensive ADC capabilities. CDMOs are developing site-specific linker technologies, expanding their payload options, and planning for indications other than cancer. For instance, in September 2020, MilliporeSigma has announced a US$ 65 million expansion of its highly potent active pharmaceutical ingredient (HPAPI) and active pharmaceutical ingredient production capabilities and capacity at its Madison (WI) location. Similarly, in July 2019, REGENXBIO and Neurimmune AG have signed a licensing, development, and commercialization collaboration to develop innovative AV gene treatments employing NAV vectors to deliver human antibodies against chronic neurodegenerative disorders such as tauopathies.
Therefore, the next-generation antibody market is anticipated to grow rapidly in the forecast period due to the rising clinical trials approvals and high adoption of next-generation antibodies therapeutics for the treatment of various diseases.
The socio-economic conditions in the Middle Eastern economies have been widely affected by the COVID–19 pandemic. The pandemic has restricted research and development activities in these countries. Since a considerable population already faces a growing burden of chronic diseases, the virus made them more vulnerable. However, economies in this region reacted wisely to the pandemic to avoid the spread of infection.
Similar to other regions, lockdown and social distancing measures were imposed in the MEA. Since these measures limited people's access to work, regular income, payments, schools, and healthcare, the MEA countries underwent huge losses and are still trying to recover them. Due to the less developed economies, most countries in this region depend on suppliers for healthcare products. A widespread outbreak of COVID-19 in Africa led to disruption in healthcare services, hindering access to healthcare supplies.
A COVID-19 vaccine is currently being developed by more than eight Iranian businesses and universities. While Iran does not suffer from the same poverty levels as other nations, sanctions generate other issues that jeopardize fair vaccine availability for its 80 million people, such as restrictions on Iranian participation in the COVAX facility as a self-financing member. Iran has boosted efforts to manufacture Covid-19 vaccine supplies locally in the last week. Coviran Barekat, the first coronavirus vaccine developed by researchers at Iran's Headquarters for Executing the Imam's Order, is currently undergoing phase 3 trials involving 20,000 patients. Saudi Arabia's Health Ministry has raised the number of appointments available for Pfizer-vaccination BioNTech's in Riyadh and Jeddah. Senior citizens and expatriates receive priority attention and can get vaccinated without a prior appointment. In addition, the Ministry of Health in Saudi Arabia has approved the use of Coronavirus vaccines produced by American businesses Johnson & Johnson and Moderna for incoming guests (MoH). Thus, constant research on COVID-19 using biotechnology is anticipated to propel the market over the next few years.
Based on therapeutic area, the Middle East and Africa next-generation antibody market has been segmented into oncology and autoimmune or inflammatory. Based on application, the Middle East and Africa market is segmented into antibody-drug conjugates, bispecific antibodies, Fc engineered antibodies, antibody fragments and antibody-like proteins, and biosimilar antibody products. Geographically, the Middle East and Africa next-generation antibody market is sub-segmented into UAE, Saudi Arabia, South Africa and Rest of MEA.
F. HOFFMANN-LA ROCHE LTD., Takeda Pharmaceutical Company Limited, Amgen Inc., Pfizer Inc., Kyowa Kirin Co., Ltd., Catalent Inc and AstraZeneca are among the leading companies operating in the Middle East and Africa next-generation antibody market.
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org