The Asia Pacific antibody-drug conjugates market is evaluated at US$3,359.867 million for the year 2020 and is projected to grow at a CAGR of 27.62% to reach the market size of US$18,523.737 million by the year 2027.
The rapidly increasing number of cancer cases in the Asia Pacific region is one of the prominent reasons anticipated to drive the growth of the antibody-drug conjugates market. Furthermore, drug developers are increasingly investing in antibody-drug conjugates, looking at the immense opportunities in the market, which is projected to supplement the market growth in the coming years. The growing geriatric population in the region is another prominent factor anticipated to affect the market growth of antibody-drug conjugates positively during the forecast period. According to data from the World Bank, the population of people aged 65 years and above in East Asia and the Pacific has increased from 184.287 million in 2010 to 273.553 million in 2020.
The COVID-19 pandemic had a negative impact on the Asia Pacific antibody-drug conjugates market. In Asian countries like India, many COVID-19 cases were seen, which consequently shifted the focus of the healthcare sector towards COVID-19 patients. Access to hospitals was reduced for non-COVID patients. As a result, a decrease in the diagnosis of cancers was seen, which resulted in decreased demand for antibody-drug conjugates in the region. As a result, lower market growth was seen than initially expected.
Growing cases of cancer
Cancer cases have been increasing rapidly in the Asia Pacific region. As antibody-drug conjugates are used in cancer treatment, their demand are expected to surge with the projected rise of cancer cases in the coming years. According to the International Agency for Research on Cancer (IARC), the new cancer cases in India are projected to increase from 1.324 million in 2020 to 2.086 million in 2040, witnessing an increase of more than 57%. In China, the number of new cancer cases is projected to increase by around 50%, from 4.569 million in 2020 to 6.846 million in 2040. Indonesia is another country witnessing a rapid rise in its cancer cases and is projected to witness a massive jump in its cancer cases in the future. IARC data shows that the new cancer cases in Indonesia are anticipated to rise by more than 62% between 2020 and 2040.
Rising investments to develop antibody-drug conjugates
An increased number of investments are being seen for developing antibody-drug conjugates, which is expected to boost the market growth during the assessment period. For instance, in June 2018, WuXi Biologics, a China-based company, initiated the construction of a $20 million worth of antibody-drug conjugates center near Shanghai, China. In May 2021, Suzhou Medilink Therapeutics (Medilink) raised $50 million to accelerate the development of antibody-drug conjugates for cancer. Increased investments can be seen in other countries in the Asia Pacific as well, including India and Japan, which is anticipated to have a positive impact on the market growth.
|Market size value in 2020||US$3359.867 million|
|Market size value in 2027||US$18,523.737 million|
|Growth Rate||CAGR of 27.62% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Technology, Product Type, Target, And Geography|
|Regions covered||China, India, Japan, South Korea, Taiwan, Thailand, Indonesia, Others|
|Companies covered||Daiichi Sankyo Company, Limited, Eisai Co., Ltd., Takeda Pharmaceutical Company Limited, F. Hoffmann-La Roche Ltd., ImmunoGen Inc., Pfizer Inc., Lonza, Synthon Holding B.V.|
|Customization scope||Free report customization with purchase|
Daiichi Sankyo Company, Limited
Eisai Co., Ltd.
Takeda Pharmaceutical Company Limited
F. Hoffmann-La Roche Ltd.
Synthon Holding B.V.
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