The global market for antibody drug conjugates (ADCs) is projected to grow from US$ 7,793.43 million in 2022 to US$ 29,600.98 million by 2030, reflecting a compound annual growth rate (CAGR) of 18.2% during this period.
The expansion of the ADC market is primarily driven by an increase in strategic collaborations aimed at developing these therapies, a rise in cancer incidence rates, and a growing number of FDA approvals for ADC products. However, the high costs associated with the development and commercialization of ADCs pose a significant challenge to market growth.
Strategic Collaborations in ADC Development
Antibody-drug conjugates have garnered considerable global interest as a treatment option for cancer. Following the FDA's approval of Mylotarg, the first ADC by Pfizer, Inc. in 2000, there has been a notable increase in strategic initiatives by pharmaceutical companies, even amidst the challenges posed by the COVID-19 pandemic. In 2020, numerous pharmaceutical firms formed partnerships to advance ADC development. For example, in July 2020, AstraZeneca and Daiichi Sankyo joined forces to develop and commercialize DS-1062, an ADC targeting the trophoblast cell-surface antigen 2 (TROP2) for various tumor types.
In December 2022, Merck & Co., Inc. (MSD) partnered with Kelun-Biotech, a subsidiary of Sichuan Kelun Pharmaceutical Co., Ltd., to work on seven investigational preclinical ADCs for cancer treatment. This agreement granted MSD exclusive global licenses from Kelun Biotech for the research, development, manufacturing, and commercialization of these ADC therapies, while Kelun-Biotech retained rights for certain regions including Mainland China, Hong Kong, and Macau.
Furthermore, in April 2023, BioNTech SE and Duality Biologics (Suzhou) Co. Ltd established a strategic partnership to create next-generation ADCs targeting cancer and autoimmune diseases. This collaboration allows BioNTech SE to access DualityBio?s lead candidate, DB-1303, an ADC that targets the Human Epidermal Growth Factor Receptor 2 (HER2), a common target in various cancers. Additionally, BioNTech SE will also work with another ADC candidate, DB-1311, which is also based on a topoisomerase-1 inhibitor.
Market Segmentation of Antibody Drug Conjugates
The ADC market is categorized based on technology, application, distribution channel, and geographical region. In terms of technology, the market is divided into cleavable and non-cleavable linkers. As of 2022, the cleavable linkers segment dominated the market, while the non-cleavable linkers segment is anticipated to experience a higher CAGR from 2022 to 2030. Cleavable linkers utilize specific chemical triggers or inherent structural properties to release cytotoxic agents within tumor cells, employing mechanisms such as pH sensitivity, glutathione sensitivity, and protease sensitivity. This technology is prevalent in ADC development, with over 80% of approved ADCs utilizing cleavable linkers, as noted in a March 2021 article titled "Antibody-drug conjugates: Recent advances in linker chemistry." Notable examples of ADCs using this technology include Besponsa (inotuzumab ozogamicin) and Adcetris (brentuximab vedotin), which maintain stability in circulation while effectively releasing their payloads intracellularly.
When examining applications, the ADC market is segmented into blood cancer, breast cancer, ovarian cancer, urothelial cancer, and others. The breast cancer segment held the largest market share in 2022 and is projected to grow at the fastest CAGR of 18.6% from 2022 to 2030. The introduction of ADCs has revolutionized breast cancer treatment strategies, enhancing the efficacy, precision, and safety of therapies. Currently, commercialized products such as Kadcyla/T-DM1 (ado-trastuzumab emtansine), Enhertu/T-DXd (trastuzumab deruxtecan), and Trodelvy/SG (sacituzumab govitecan) are available for treating triple-negative breast cancer (TNBC) and metastatic cases. According to data from the Breast Cancer Research Foundation published in January 2023, there are 17 ADCs undergoing clinical trials, with 9 targeting HER2 and the remaining 8 focusing on novel antibody targets.
Geographical Insights into the Antibody Drug Conjugates Market
North America is the leading region in the ADC market, comprising the US, Canada, and Mexico. The growth in this region is fueled by increased research and development activities, a rise in product approvals, heightened awareness of ADCs, and a surge in mergers and collaborations among key players. Additionally, the rising incidence of cancer significantly contributes to the demand for ADCs.
The US stands out as the largest contributor to the ADC market, both regionally and globally, with the highest number of ADC approvals. By January 2021, the FDA had approved several ADCs, including Mylotarg, Lumoxiti, Adcetris, Kadcyla, Enhertu, Trodelvy, Besponsa, Polivy, Padcev, and Blenrep for various cancer indications. Numerous ADCs are also in the development pipeline in the US, employing advanced conjugate technologies, potent payloads, and targeting novel antigens. According to FDA data from May 2021, there were 113 clinical trials for 77 novel ADCs targeting over 40 different antigens, indicating a promising future for the ADC market in the country.
Moreover, partnerships among leading ADC companies are expected to enhance their technological capabilities across different regions, further driving market growth. For instance, in August 2023, ImmunoGen, Inc. and Takeda Pharmaceutical Company Limited entered into a collaboration to develop and commercialize ELAHERE, Immunogen?s ADC therapy, in Japan. This agreement includes upfront payments and additional compensation contingent on the FDA's accelerated approval of ELAHERE for treating platinum-resistant ovarian cancer. Takeda will handle regulatory filings and has exclusive rights to develop and commercialize ELAHERE in Japan, while ImmunoGen retains production rights.
Key sources referenced in the preparation of the ADC market report include the US Food and Drug Administration (FDA), Cancer.net, the European Medicines Agency (EMA), and the Centers for Disease Control and Prevention (CDC).