GlaxoSmithKline plc in a joint venture with Vir Biotechnology, Inc. announced the collaboration with the government of the United States. With this agreement, the companies will fulfill the need for 600,000 extra doses of Sotrovimab, it is a monoclonal antibody for the early treatment of COVID-19.
AbbVie Inc. announced the approval of the U.S. FDA for the world’s first and only T-cell-engaging bispecific antibody, EPKINLY. It is targeted for the treatment of persistent or refractory diffuse large B-cell lymphoma (DLBCL) in adults.
Author Credits: Radhika Gupta, Shivam Bhutani
Report ID: 5042
Published Date: Jun 17, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Growing prevalence of cancer, a higher instance of autoimmune diseases, and advancement in the bispecific antibody are the major factors driving the market growth.
The market size of bispecific antibody is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Innovent Biologics, Ltd., Affimed GmbH, Pieris Pharmaceuticals, Inc., Mereo BioPharma Group plc, TG Therapeutics, Inc., Pfizer Inc., GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., and AbbVie, Inc.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by drugs, indication, end user, and by region.
The oncology segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Shortage of adequate medical supplies and the high cost of developing the drug is estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.