New York, NY -- (SBWIRE) -- 03/21/2016 -- Success of monoclonal antibodies has encouraged researchers to discover and develop next-generation of antibodies. Next-generation antibody therapeutics are improved antibody therapeutics that are highly efficient, offer greater safety, and are easier to deliver. Globally, the next-generation antibody therapeutics market is witnessing significant growth due to growing R&D activities, increasing prevalence of chronic diseases, and technological advancements in antibody therapeutics. In addition, increasing healthcare expenditure is also driving growth of the global next-generation antibody therapeutics market. However, factors such as high costs of next generation antibody therapeutics, stringent regulatory requirements, and long approval time are restraining growth of the market. The global next-generation antibody therapeutics market is projected to be valued at US$ 2,250.0 Mn by the end of 2015. It is likely to grow at a CAGR of 13.0% to account for US$ 6,761.1 Mn by 2022.

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North America is the largest market for next-generation antibody therapeutics. In terms of technology, antibody-drug conjugates are the largest segment in the global next-generation antibody therapeutics market. On the basis of therapeutic application, oncology dominates the next-generation antibody therapeutics market. The North America next-generation antibody therapeutics market is anticipated to be valued at US$ 1,104.4 Mn by the end of 2015 and is expected to account for US$ 3,691.8 Mn by 2022 at a CAGR of 14.5%. One of the latest trends in the next-generation antibody therapeutics market is the increasing use of ADC technology.

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Various biotechnology and biopharmaceutical companies are actively involved in development and manufacture of next-generation antibodies. Some of the major players in the market are F. Hoffmann-La Roche Ltd., Dyax Corp., Kyowa Hakko Kirin Co., Ltd., Seattle Genetics, Inc. ImmunoGen, Inc., Amgen, Inc., Biogen, Bayer AG, and Xencor, Inc.

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