Next generation drug conjugates global market is projected to experience rapid growth to reach $3.91 billion by 2028.

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What is the projected market size of the next generation drug conjugates global market?

The next generation drug conjugates global market is growing at an impressive pace with a promising future. With a current market value at $2.15 billion in 2024, it is projected to experience rapid growth to reach $3.91 billion by the end of 2028. The past growth is largely attributed to increased understanding of tumor biology, success of previous generations of drug conjugates, a rise in oncology research, increased investments, and growing patient advocacy and awareness.

What is driving this speedy expansion of the next generation drug conjugates market?

The primary force propelling this market is the escalating prevalence of cancer worldwide. As a disease characterized by the unregulated growth and spread of abnormal cells, cancer's rise has been attributed to factors such as an aging population, lifestyle choices, environmental exposures, improved detection techniques, genetic factors, and infectious agents. Next-generation drug conjugates have emerged as a potential solution to tackle the growing cancer epidemic. By delivering targeted therapies directly to cancer cells, these drugs enhance treatment efficacy while minimizing harm to healthy tissues. A projection from the Australian Institute of Health and Welfare announced in August 2024 views cancer diagnoses in Australia to increase significantly from an estimated 169,000 in 2024 to 209,000 by 2034 - a clear indicator of the increasing rise of cancer and the resulting demand for innovative treatments.

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What potential does the next generation drug conjugates market hold, and what trends can we foresee in the coming years?

The CAGR projection of 16.1% from now till 2028 reveals the robust potential of this market. The promising growth can be attributed to the rising trend of combination therapies, expansion of clinical research, focus on treatment of rare diseases, strategic collaborations, and the emergence of bioinformatics tools. Advancements in monoclonal antibody technology, combination therapies involving JAK inhibitors, application of artificial intelligence in the development of drugs, the emergence of biosimilars, and advancements in subcutaneous formulations further underscore the potential trends in the forecast period.

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How is the next generation drug conjugates market segmented?

The industry landscape is categorized based on various factors:

1 By Next-Generation Drug Conjugates Type: Peptide Receptor Radionuclide Therapy, Ligand Mediated RNAI Conjugate, Ligand Conjugated Anti Sense Medicine, Peptide Drug Conjugate.
2 By Targeting Ligand Type: Amino Sugar, Lipid, Peptide, Small Molecule, Virus-Like Particles.
3 By Payload Type: Oligonucleotide, Radionuclide, Peptide, Small Molecule.
4 By Therapy: Monotherapy, Combination Therapy.
5 By Indications: Various including Gastroenteropancreatic Neuroendocrine Tumors, Prostate Cancer, and others.

What are the leading companies in the next generation drug conjugates market doing for further advancements?

Strategic partnerships have emerged as a crucial trend amongst major players in the industry. By leveraging each other's strengths, these firms aim to enhance their research and development capabilities, fast-track product innovation, and widen their market presence. A prime example would be the partnership in November 2023 between Prelude Therapeutics Incorporated, a US clinical-stage precision oncology company, and AbCellera Biologics Inc., a Canada-based biotechnology company, to develop first-in-class precision antibody-drug conjugates ADCs for oncology. This collaboration aims to widen the therapeutic applications of Prelude's small-molecule SMARCA2 selective degraders and treat a wider patient population, especially those with cancers unrelated to SMARCA4 mutations.

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