The Antibody Drug Conjugate ecosystem spans upstream raw‑material sourcing, midstream conjugation and formulation, and downstream clinical and commercial delivery. Upstream suppliers provide cytotoxic payloads, linkers, and carrier antibodies, setting technical limits and cost inputs. Midstream actors—technology providers, contract manufacturers, and system integrators—assemble components into a regulated product, adding value through process optimization and scale‑up. Downstream channels, including distributors, specialty pharmacies, and oncology treatment centers, convert the finished ADC into revenue, while payers and health‑technology assessment bodies affect reimbursement. Value is captured at each hand‑off via licensing fees, manufacturing margins, service contracts, and reimbursement mechanisms, creating a multi‑tiered revenue structure that depends on transitions.