The anti-CD47 drugs market has seen significant growth in recent years due to the rising prevalence of cancer worldwide. CD47 is a transmembrane protein present on several cancer cells and helps tumors evade detection and destruction by the immune system.
Anti CD47 Drugs Market act as a promising approach for cancer immunotherapy by blocking the CD47 “don't eat me” signal and enabling macrophages to phagocytose cancer cells. Some key products in clinical trials include Magrolimab by Five Prime Therapeutics and ALX148 by Arch Oncology.
The anti CD47 drugs market is estimated to be valued at USD 0.14 Bn in 2024 and is expected to reach USD 1.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 42.9% from 2024 to 2031.
Key Takeaways
Key players operating in the anti-CD47 drugs are Magnolia Biotechnology, Trillium Therapeutics, Sorrento Therapeutics, Forty Seven Inc, Celgene, Taiho Pharmaceutical etc.
The key opportunities in the market include rising research activities to evaluate anti-CD47 drugs for various cancer indications. Several companies are conducting clinical trials to evaluate the safety and efficacy of these drugs for hematologic as well as solid tumors.
The market is also witnessing expansion in terms of regional presence with companies focusing on developing manufacturing facilities and distribution networks across major markets. Partnerships with local players also help achieve wider market reach.
Market Drivers
The high growth of the anti-CD47 drugs market can be attributed to the rising cancer burden worldwide. According to the WHO, cancer incidences are expected to rise by over 70% in the next two decades. This will significantly drive the demand for novel and more effective treatment options such as anti-CD47 drugs. Moreover, advantages of these drugs over existing immunotherapies in terms of improved efficacy and less side effects demonstrate their future potential as first-line treatment options.
PEST Analysis
Political: The healthcare policies and regulations in various countries play a key role in shaping the anti-CD47 drugs market. Regulations regarding clinical trials and drug approvals determine the growth trajectory.
Economic: The rising healthcare spending and increasing focus on oncology therapies are driving investments in research and development of novel anti-cancer drugs. Availability of funding also impacts the market growth positively or negatively.
Social: Growing cancer prevalence worldwide owing to changing lifestyle habits has increased the need for more effective treatment options. Higher awareness also influences the patients' decisions regarding therapeutic options.
Technological: Advancements in immunotherapy and targeted drug delivery mechanisms are allowing development of novel anti-CD47 drugs with higher efficacy and safety. Combination therapies leveraging technologies like bispecifics are being explored.
Geographical Regions with High Market Concentration
North America currently dominates the anti-CD47 drugs market in terms of value, primarily due to established healthcare infrastructure and higher adoption of novel immunotherapies. Presence of key players and availability of funds for research & development also contribute to the dominant share of the region.
Fastest Growing Region
Asia Pacific is expected to witness the highest growth over the forecast period attributed to rising cancer incidence, improving healthcare infrastructure, and increasing disposable incomes. Rapid economic development of countries such as China and India is favoring market expansion through availability of funding and enhanced access to advanced treatments.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
