Last week, the eyes of all the key stakeholders in the Antibody Drug Conjugates (ADCs) space were on the developments happening in San Diego, California, at the 6th World ADC Awards. The awards were meant to recognize the companies that are driving innovation in the field of ADCs.
With six approved and marketed drugs, namely POLIVY™ (2019), LUMOXITI™ (2018), BESPONSA® (2017), MYLOTARG™ (2017, reapproval), KADCYLA® (2013) and ADCETRIS® (2011), ADCs have become recognized as a potent class of targeted therapeutic agents catering to oncology and hematological diseases markets. The awards were mean to appreciate the key developers in this emerging space.
Currently, more than 240 ADCs are being developed across various clinical/preclinical stages.
With such a strong development pipeline, the overall ADC therapeutics market is projected to be worth $15 billion by 2030, growing at a CAGR of over 20%. This fast-growing market offers immense opportunities for contract manufacturers, service providers, and technology developers. In fact, as per one of the recent reports, the ADC contract manufacturing market is expected to rise to close to $2 billion by 2030.