Asia Pacific 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,

Asia Pacific 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 Asia Pacific (APAC) next-generation antibody market is expected to reach US$ 2,312.68 million by 2028 from US$ 999.49 million in 2021. It is estimated to grow at a CAGR of 12.7% from 2021 to 2028.

The increasing prevalence of cancer and the proliferation of the biotechnology industry in developing regions are boosting the APAC market. However, complications associated with the manufacturing and approvals of next-generation antibodies are expected to restrict the market growth during the forecast period.

The rising support from governments, continuously changing disease profiles, increase in public-private partnerships, and surge in funding activities are widely enhancing the performance of biotechnology industries in Asia Pacific, which create enormous opportunities in this region. In addition, developing APAC countries serve lucrative prospects due to the continuously growing population, including geriatric populations. The heavy investments have also encouraged the adoption of advanced technologies in the healthcare sector. According to the Organization for Economic Co-operation and Development (OECD), China was the frontrunner in R&D expenditure in 2019.

Furthermore, the governments in this region offer tax incentives, cheaper land, incubators, and direct investments to encourage local biotechnology companies to expand their abilities and capacities, which, in turn, is expected to create opportunities for next-generation antibodies over the next few years. Asian countries are focusing more on using genomics, proteomics, next-generation sequencing, CRISPR technologies, and biomarkers for diagnostic and therapeutic applications. Therefore, such enhancements in the biotechnology industry are likely to bolster the demand for next-generation antibodies in the coming years.

Countries in Asia Pacific are encountering challenges due to rising incidences of COVID-19. The COVID-19 pandemic has put a significant strain on the health systems of many countries around the world. Testing capacity in many APAC nations was limited and of low quality in the initial days of the pandemic, leading to a surge in COVID-19 cases. However, several countries, such as South Korea, Japan, and Singapore, were efficiently contained the situation through robust tracking and testing. India had the second-highest number of cases only after the US.

The pandemic created an extraordinary emergency that particularly affected the supply chain. Along with the enormous demand for effective diagnostics and therapeutics for its treatment, the supply chain disruptions have put the healthcare research industry in a critical situation in this region. However, many market players now realized the importance of antibody testing for COVID-19, which is expected to raise the demand for custom antibodies during the forecast period.

It is important to note that during this pandemic, within the region, Japan emerged as a popular hub for antibody testing product manufacturers. Japanese companies, such as Roche Holding AG unit, Fujifilm, Eli Lilly, and Regeneron, have actively developed antibody tests for COVID 19 diagnosis. For instance, in May 2021, India gave an emergency use permit for a COVID-19 antibody-drug cocktail generated by Roche and Regeneron, developing drugs to battle a massive second wave of infections. The treatment involves two antibodies, Casirivimab and Imdevimab, synthetically manufactured copies of antibodies that the body produces after an illness. Many biopharmaceutical and clinical research organizations companies target Asian countries, such as China & India, for drug discovery and development.

Similarly, in July 2021, Roche announced that Japan's Ministry of Health, Labour and Welfare (MHLW) approved Ronapreve (casirivimab and imdevimab) to treat patients with mild to moderate COVID-19 via intravenous infusion. In addition, in December 2020, CEPI, the Coalition for Epidemic Preparedness Innovations, announced a collaboration with South Korea-based SK bioscience to advance the development of a next-generation vaccine against SARS-CoV-2, the virus that causes COVID-19. The presence of less stringent regulations for antibody development and production, vast genome pool, and developing healthcare infrastructure is expected to increase the uptake of the next-generation antibody in coming years.

Based on therapeutic area, the Asia Pacific next-generation antibody market has been segmented into oncology and autoimmune or inflammatory. The oncology segment held the largest share of the market in 2021. Moreover, the oncology segment is anticipated to register the highest CAGR in the market during the forecast period, due to the extensive usage of next-generation antibodies for cancers, high volume consumption, and product innovation in this field.

Based on application, the Asia Pacific market is segmented into antibody-drug conjugates, bispecific antibodies, Fc engineered antibodies, antibody fragments and antibody-like proteins, and biosimilar antibody products. In 2021, the antibody-drug conjugates segment held the largest share of the market. This segment is expected to witness the fastest CAGR during the forecast period due to the rise in the usage of bispecific antibodies for various diseases across the world.

A few of the primary and secondary sources referred to while preparing the report on the Asia Pacific next-generation antibody market are Clinical Research Center of Malaysia (CRC), National Pharmaceutical Pricing Authority (NPPA), and Japan's Ministry of Health, Labour and Welfare (MHLW).

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