Exploring the Latest Trends and Developments in the Bispecific Antibody Market

5 Sep
2023

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The role of bispecific antibodies is unparalleled across the healthcare industry. They are highly beneficial in treating many multifaceted, complex diseases including various types of blood cancers, such as leukemia, multiple myeloma, and lymphoma. The rising technological advancements in the development of bispecific antibodies and the increasing pervasiveness of chronic diseases among individuals have brought excellent growth opportunities for the bispecific antibody market. This blog talks about the vital changes happening in the industry, like recent product launches, and mergers and acquisitions among prominent companies.

Trends shaping the market

The bispecific antibody market has been experiencing significant changes, propelled by technological advancements and the rising need for advanced drugs for treating chronic diseases. Companies like AbbVie, Pfizer, Genentech, and Regeneron Pharmaceuticals, Inc., have come forward to introduce various noble and beneficial bispecific antibodies to cater to the growing needs of the oncology pipeline with enhanced flexibility and potential. For instance, Pfizer, a leading American-based pharmaceutical and biotechnology corporation, received approval for its launched bispecific antibody, namely, Elrexfio from the US Food and Drug Administration, to treat adult patients with relapsed or refractory multiple myeloma (RRMM). These developments allow healthcare enthusiasts to treat people with advanced solutions and ensure their well-being.

Additionally, today, multispecific drugs are creating waves across the healthcare industry. Organizations like Amgen have stepped ahead to develop bispecific antibody therapies to cure critical diseases and improve patients’ lives.

As per a new report published by Allied Market Research, the bispecific antibody market is predicted to rise at a stunning CAGR of 34.8% from 2023 to 2032.

New product launches

Owing to the increasing prevalence of chronic diseases among individuals globally, leading market players are launching new products for the bispecific antibody market. AbbVie, a renowned American multinational pharmaceutical company, known for developing multifunctional drugs by combining advanced science, has introduced EPKINLY, the first and only T-cell alluring bispecific antibody for the treatment of adult patients with diffuse large B-cell lymphoma (DLBCL). The FDA approved EPKINLY as a new treatment mechanism, especially for third-grade DLBCL patients.

Moreover, recently, Regeneron Pharmaceuticals, Inc., a well-established biotechnology company, introduced a vital costimulatory bispecific antibody, namely REGN5678, in combination with inhibitor Libtayo® to treat advanced metastatic castration-resistant prostate cancer (mCRPC). These product developments leverage the usage of bispecific antibodies proactively in the healthcare domain worldwide.

Mergers and Acquisitions

The market has also undergone various strategic mergers and acquisitions, further redefining the competitiveness scenario. For instance, in February 2023, Ocean Biomedical, a new-generation biopharma company announced its acquisition of Aesther Healthcare Acquisition Corp., a special-purpose acquisition company to develop various methods and compositions patents for monoclonal and bispecific antibodies that could be used in multiple cancer types such as rectal cancer, colon cancer, ovarian cancer, breast cancer, and many more.

Companies like Lonza, a Swiss multinational manufacturing company, and ABL Bio, a leading Korean biologics company collaborated to support the development and manufacturing of ABL Bio’s new bispecific antibody product. This collaboration has significantly supported major biotech companies to scale up the production of bispecific drugs and help them develop a robust and scalable manufacturing process.

Research and development activities of bispecific antibodies

The beneficial advantages and fruitfulness of any specific drug rely on thorough research and deep examinations. City of Hope, one of the largest cancer research and treatment organizations in the nation received approval from the U.S. Food and Drug Administration for introducing “mosunetuzumab”, the first bispecific antibody to treat individuals with relapsed follicular lymphoma (FL).

Such progression in science and technology has set remarkable milestones for individuals with serious health issues such as rheumatoid arthritis, lymphoma, psoriasis, and many others.

To wrap up, the bispecific antibody market is experiencing prominent growth owing to the continuous research and development activities of bispecific antibodies by renowned research institutions and leading organizations. Additionally, the rising concerns among healthcare enthusiasts about using profitable solutions for individuals dealing with chronic diseases, driving the market to reach new heights.

Rosy Behera

Author's Bio- Rosy Behera holds a bachelor’s degree in Electrical and Electronics Engineering and now she is a content writer by profession. She loves to portray her thoughts and ideas with a nice command of words. Grabbing an audience with her creative write-ups is one of her biggest assets so far. Apart from writing, she is a certified “Odisi” dancer and has done Gardharva in Drawing, Painting, and Arts. She always explores new things through travel and is a big foodie.

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