SAN FRANCISCO — An established but promising group of cancer drugs was a red-hot market in 2023, and more companies could look to the treatments to fuel growth in the year ahead.
Interest in the drugs will only continue this year, as some analysts expect more dealmaking and advancements in ADCs currently in development.
The drugs also have potential to draw huge profits: ADCs could account for $31 billion of the $375 billion worldwide cancer market in 2028, according to estimates from the drug market research firm Evaluate.
The market for those drugs in 2023 was estimated to be worth around $9.7 billion, another report from research firm MarketsandMarkets said.
Everyone wants to gain exposure to [ADCs] and basically make it a cornerstone of their entire corporate strategy," Hsieh told CNBC.
Persons:
FRANCISCO —, Johnson, Andy Hsieh, William Blair, MarketsandMarkets, Hsieh
Organizations:
FRANCISCO, JPMorgan Healthcare Conference, ADC, Pfizer, Merck, William Blair & Company, CNBC
Locations:
San Francisco, ADCs, drugmakers, Asia