USA Antibody Drug Conjugates Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Target (CD 30, CD 22, HER 2), And By Indication (Hematologic Malignancies, Non- Hematologic Malignancies) - Forecast From 2022 To 2027

The USA antibody drug conjugates market is projected to witness a compound annual growth rate of 24.16% during the forecast period. The prime reasons driving the market growth of antibody-drug conjugates in the country are the surging cases of cancer and the rise in medical expenditure. Antibody drug conjugates are a cutting-edge cancer treatment that offers a promising and successful approach.  Surging cancer cases in the country are expected to be the prime reason that will drive the market growth. However, rising medical costs and a surge in medical tourism have the potential to limit the market demand. The analysis report segments the market for USA Antibody Drug Conjugates technology based on target and indication.

By target, the USA antibody drug conjugates market has been segmented into CD 30, CD 22, and HER 2. CD 30 is expected to hold a notable share of the market during the forecasted period. By indication, the market has been segmented into hematologic malignancies and non-hematologic malignancies.

Growth Factor

• Rising cancer cases in the US

One of the prime reasons supporting the growth in the USA Antibody Drug Conjugates market is the rising cancer cases in the country, which has increased the demand for antibody-drug conjugates. Data from the American Cancer Society shows that 1.9 million new cancer cases were diagnosed in the country in 2021. In 2018, 1.7 million new cancer cases were discovered. The rising cases, coupled with an increasing number of cases year on year, have raised concerns in the country. The increasing standard of living and rising healthcare expenditure has increased the expenditure on treatments and hence are forecasted to provide notable scope for antibody-drug conjugates.

• Increasing healthcare spending

Another key reason which is forecasted to drive robust growth in the market is surging healthcare expenditure in the country. The US has one of the largest healthcare sectors in the world, with state-of-the-art infrastructure and advanced technology. The growing advent of chronic diseases and a surge in cancer cases has increased government expenditure in the sector. The government had spent 19.7% of the country’s GDP, accounting for US$4.1 trillion in 2020. It is further forecasted that the government’s sector expenditure will surge to US$6.2 trillion by 2028. Promising growth in the healthcare sector is expected to drive notable demand for antibody drug conjugates in the country.

Restraints

• Growing medical tourism

A key restraint facing the market is rising medical tourism, which drives away the potential demand for antibody drug conjugates in the country. Healthcare costs per person in the country are significant, consuming a large portion of earnings.  The growing advent of diseases and surging healthcare costs has notably increased private healthcare expenditure, from 49.301% of health care expenditure in 2015 to 49.587% in 2018. Surging healthcare bills, coupled with the availability of pocket-friendly healthcare tourism, have driven away medical tourists to countries such as Mexico, China, India, South Korea, Thailand, and others. This has notably impacted the market for antibody-drug conjugates.

Covid Insights

The coronavirus pandemic hampered the growth of the USA  antibody-drug conjugates market. The country was one of the worst-hit nations.  A  temporary halt in the testing of other diseases amid testing of COVID-19 reduced the discovery of new cases of cancer and led to delays in treatments. Furthermore, fear of catching the virus discouraged patients from going for testing, which also impacted the market growth.

USA Antibody Drug Conjugates Market Scope:

Key Market Segments

• By Target
  • CD 30
  • CD 22
  • HER 2
• By Indication
  • Hematologic Malignancies
  • Non- Hematologic Malignancies