The ADC market continues its rapid growth trajectory. In 2023, global ADC sales surpassed $10 billion for the first time. By the first half of 2025 (H1 2025), global ADC sales had already reached an estimated $8 billion (with some companies yet to publish financial results). Full-year sales are expected to exceed $16 billion.

Below is an overview of several leading ADC products and their sales performance in H1 2025:

• ◆ Enhertu (trastuzumab deruxtecan) - Combined sales reported by Daiichi Sankyo and AstraZeneca totaled $2,289 million in H1 2025 (vs. $1,772 million in H1 2024). [1]
• ◆ Padcev (enfortumab vedotin) – Sales reached $967 million, up 32% year-over-year. [2,3] Astellas, responsible for sales in international markets, additionally reported JPY 55.5 billion for Q1 FY2025 (April–June 2025). [4]
• ◆ Kadcyla (trastuzumab emtansine) – Generated CHF 1,037 million in H1 2025 (vs. CHF 999 million in H1 2024). [5]
• ◆ Polivy (polatuzumab vedotin) – Achieved CHF 730 million in H1 2025, marking a 46% increase compared to the prior year. [5]
• ◆ Adcetris (brentuximab vedotin) – Recorded $472 million in H1 2025, down 12% year-over-year. [2,3] Takeda additionally reported JPY 37.2 billion in Q1 FY2025 (April–June 2025) sales for ADCETRIS in malignant lymphomas. [6]
• ◆ Trodelvy (sacituzumab govitecan) – Product sales rose 5% to $657 million for the six months ended June 30, 2025, driven mainly by higher demand. [7]

Global Phase III ADC Pipeline Overview: 40+ Candidates in Development

By 2025, there are more than 200 clinical-stage candidates in the global pipeline of ADCs that target more than 50 antigens. Ten major targets are the focus of about 40% of these ADCs. Notably, as shown in the table below, 41 ADCs have already progressed to Phase III clinical trials.

​Table. ADCs in Phase III clinical trials.

Selection of Diverse Targets Beyond HER2 

The focus on a small number of hot targets has decreased as target selection has become more varied. Although HER2 is still a primary focus, many new targets, such as HER3, B7-H3, B7-H4, CLDN18.2, ROR1, ITGB6, CEACAM, and CDH6, are now present in late-stage pipelines. B7-H3 and CLDN18.2 stand out among them as particularly promising, indicating fresh prospects for ADC development in the future.

The development of bispecific ADCs into late-stage trials is another significant trend. Beyond the single-target strategy, candidates that target dual antigens—such as EGFR/HER3 and CD3/CD7—offer potential solutions for drug resistance and the management of challenging cancers.

Expanding Indications for Other Cancer Types and Beyond

From the standpoint of indications, Phase III ADCs continue to concentrate primarily on solid tumors, which include a variety of cancers such as ovarian, breast, endometrial, urothelial, gastric, lung, nasopharyngeal, and esophageal cancers, as well as osteosarcoma, prostate cancer, diffuse large B-cell lymphoma, colorectal cancer, and even graft-versus-host disease (GVHD). In general, the market is being shaped by two strategic directions:

• ◆ Expanding established targets into new indications: EGFR ADCs for non-small cell lung cancer and nasopharyngeal carcinoma, Nectin-4 ADCs for cervical cancer, and HER2 ADCs being assessed for ovarian and endometrial cancers are a few examples of extending known targets into new indications.
• ◆ Examining non-oncology, refractory, and rare indications: ADCs are becoming safer and more stable thanks to developments in antibody engineering and screening technologies, which expands their applications beyond oncology. For instance, CD3/CD7 ADCs are starting trials for GVHD, while B7-H3 ADCs are being tested for osteosarcoma.

Innovation in Payloads and Linkers

Additionally, advancements in payload technology are speeding up.  Conventional cytotoxins like microtubule inhibitors (MMAE, MMAF, DM4) and DNA-damaging agents (calicheamicin, PBD) are still frequently used.  But topoisomerase I inhibitors, such as the camptothecin derivative DXd, are becoming the new standard.

Linker design is still changing in the interim.  Although cleavable linkers continue to predominate (more than 92%), cleavage mechanisms have expanded to include enzyme-based systems in addition to chemistry. Peptide linkers have gained popularity due to their broad therapeutic window and high plasma stability.  New peptide-based linkers with β-alanine spacers that lessen hydrophobicity and enhance pharmacokinetic characteristics are examples of recent developments.

Prospects

The field is maturing at a rapid pace, as evidenced by the Phase III ADC pipeline. ADCs are well-positioned to provide safer and more effective treatments in oncology and other fields thanks to their varied targets, wider indications, and continuous innovation in payloads and linkers. ADCs are expected to continue to be one of the most active areas of contemporary drug development as more candidates get closer to regulatory submission.

Biopharma PEG - PEGs for ADC Linkers ​

Biopharma PEG offers a variety of PEG linkers to facilitate antibody-drug conjugate (ADC) development projects. All PEG linkers are of >95% purity and they are the basic building blocks for a successful ADC.

References:
[1] https://www.astrazeneca.com/content/dam/az/PDF/2025/h1q2/H1-and-Q2-2025-results-announcement.pdf
[2] https://insights.pfizer.com/files/Q1-2025-PFE-Earnings-Release-FINAL.pdf
[3] https://s206.q4cdn.com/795948973/files/doc_financials/2025/q2/Q2-2025-PFE-Earnings-Release-FINAL.pdf
[4] https://www.astellas.com/en/system/files/3a6a1a2221/1q2025_pre_en.pdf
[5] https://assets.roche.com/f/176343/x/2d95c66259/hy25e.pdf Half-Year Report 2025
[6] https://assets-dam.takeda.com/image/upload/v1753839796/Global/Investor/Financial-Results/FY2025/Q1/qr2025_q1_er_en.pdf
[7] https://www.gilead.com/news/news-details/2025/gilead-sciences-announces-second-quarter-2025-financial-results