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Increasing Demand in ADCs to Create Opportunities for the Global Monoclonal Antibodies Market until 2020, Reports TechnavioTechnavio analysts forecast the global monoclonal antibodies (mAbs) market to grow at a steady CAGR of close to 10% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global monoclonal antibodies market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of branded mAbs and biosimilars used to treat cancer, autoimmune and inflammatory diseases, respiratory diseases, and ophthalmology. Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global monoclonal antibodies market:
Reimbursement benefits for mAbs and its biosimilars Although mAbs are expensive, reimbursement for these drugs is expected to fuel the market during the forecast period as public compensation programs help reduce the financial burden of treatments. The reimbursement status of drugs varies worldwide, as factors such as the lack of cost-effectiveness prove to be a challenge. However, the high costs make it necessary to provide reimbursement plans for the drugs. Barath Palada, a lead metabolic disorders research analyst at Technavio, says, "The Transparency Commission of France suggested reimbursement coverage for the breast cancer drug, Kadcyla. Medicare and Medicaid reimbursement plans are expected to have an impact on the global scenario for diseases such as diabetes, which have high prevalence and incidence rates in the US. Medicare provides coverage for the geriatric population, people with the end-stage renal disease, and people agd below 65 years with certain disabilities." The Medicare Part B plan benefits people who have or are at the risk of developing, diabetes, prostate cancer, colorectal cancer screenings, and eye exams. It also provides reimbursement for biosimilars, and covers drugs administered and prescribed in an outpatient setting, including mAbs. Special regulatory drug designations The US FDA's Office of Orphan Products Development (OOPD) aims to develop and evaluate drugs, biologics, and devices that effectively treat and diagnose rare diseases or conditions, and provides incentives to companies that develop drugs for rare disorders. It also grants orphan status to drugs and biologics proven to be effective and safe in treating rare diseases. The Orphan Products Grants Program (OPGP) funds clinical research tests to check the efficacy and safety of drugs, medical devices, and biologics. "In the EU, orphan drugs are offered protocol assistance and 10-year market exclusivity. In the US, they are offered incentives such as tax credits for clinical testing, exemption from prescription fees and market exclusivity for seven years. Also, the entry of generics is barred during the duration of market exclusivity, protecting the market sales of orphan drugs," adds Barath. Increase in demand for ADCs Antibodies are increasingly becoming the preferred choice to treat respiratory diseases, oncology, and inflammatory diseases. Understanding diseases at the molecular level increases the development and use of antibodies. The use of ADCs, including radioimmunotherapy and antibody-directed enzyme prodrug therapy, is growing. The rising use of these antibodies in drug development increases revenue generation in the global mAbs market, contributing to market growth. ADCs are highly effective cytotoxic drugs linked to a mAbs. These drugs have shown to be potent and efficient in treating diseases, including cancers and hematological malignancies. So vendors are showing interest towards novel technologies such as Seattle Genetics (SGEN), ImmunoGen (IMGN), Immunomedics (IMMU). Increase in industry-academia collaborations The key players in the market are increasingly extending their support to academic institutions to support the R&D of innovative drugs. Such collaborations enable the consolidation of research expertise of academic institutions with the marketing intelligence of pharma companies, besides providing funds to conduct trial studies. For instance, Merck's cancer segment collaborated with academic institutions such as BioMed X to support R&D activities for mAbs in the cancer segment. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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