Monoclonal Antibody Therapeutics Market to Surpass US$ 534.26 Billion by 2030, Says Coherent Market Insights (CMI)
An Analysis of the Factors Fueling the Monoclonal Antibody Therapeutics Market Growth, Including the Increasing Prevalence of Chronic Diseases, Technological Advancements in Production and Delivery, and the High Effectiveness and Minimal Side Effects of Monoclonal Antibody Therapies
Burlingame, April 12, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Monoclonal Antibody Therapeutics Market is estimated to be valued at US$ 205.39 Billion in 2023 and is expected to exhibit a CAGR of 12.69% during the forecast period (2023-2030).
Analysts’ Views on Global Monoclonal Antibody Therapeutics Market:
Adoption of organic growth strategies such as agreements by various key players is expected to drive market growth over the forecast period. For instance, in May 2022, AstraZeneca, a global, science-led, patient-focused biopharmaceutical company, announced that it has entered into a licence agreement with RQ Bio, a company dedicated to developing treatments and preventative therapies for a portfolio of early-stage monoclonal antibodies (mAbs) targeted against SARS-CoV-2, the virus that causes COVID-19.
Global Monoclonal Antibody Therapeutics Market- Driver
Increasing prevalence of cancer
Increasing prevalence of cancer requires the use of monoclonal antibody therapeutics for treatment purpose, which is expected to drive market growth over the forecast period. For instance, in February 2022, according to a report published by the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, that is nearly one in six deaths.
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Global Monoclonal Antibody Therapeutics Market- Restraint
Disadvantages of monoclonal antibody therapeutics
The major factors that can hamper the growth of the global monoclonal antibody therapeutics market over the forecast period, include disadvantages associated with the use of monoclonal antibody therapeutics. For instance, in April 2022, according to a report published by National Center for Biotechnology Information (NCBI), stated that injection site reactions and infusion-related reactions such as flushing, fever/chills, back or abdominal pain, nausea/vomiting, pruritus, or skin rashes are the most commonly reported adverse events of monoclonal antibody therapeutics.
Monoclonal Antibody Therapeutics Market Report Coverage
Report Coverage | Details | |||
Base Year: | 2022 |
| Market Size in 2023: | US$ 205.39 Bn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
Forecast Period 2023 to 2030 CAGR: | 12.69% |
| 2030 Value Projection: | US$ 534.26 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: | Pfizer Inc., Novartis AG, Bayer AG, Sanofi, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Merck KGaA, GSK plc., AbbVie Inc., Bristol-Myers Squibb Company, Regeneron Pharmaceuticals Inc., AstraZeneca, AbCellera Biologics Inc., Molecular Depot LLC, DAIICHI SANKYO COMPANY, LIMITED., Abbott, Biogen, Thermo Fisher Scientific, Inc., Cell Signaling Technology, Inc, Intas Pharmaceuticals Ltd., Avantor Inc., UCB S.A., Merus N.V., GENEXTGENOMICS.COM, Biogenuix | |||
Growth Drivers: |
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Restraints & Challenges: |
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Global Monoclonal Antibody Therapeutics Market- Opportunity
Agreements by key market players
Adoption of inorganic strategies such as the agreements by key market players with the governing authorities is expected to drive the global monoclonal antibody therapeutics market growth over the forecast period. For instance, in September 2021, Regeneron Pharmaceuticals Inc., a leading biotechnology company, announced that the U.S. Department of Health and Human Services (HHS) and the Department of Defense (DOD) has agreed to purchase 1.4 million additional doses of REGEN-COV (casirivimab and imdevimab).
Global Monoclonal Antibody Therapeutics Market Cross Sectional Analysis:
Among application, the cancer segment is dominant during the forecast period in North America region due to the increasing prevalence of cancer, which is expected to drive segment growth over the forecast period. For instance, on January 12, 2023, according to a report published by American Cancer Society, which is a cancer journal, stated that in 2023, 1,958,310 new cancer cases and 609,820 cancer deaths are projected to occur in the U.S.
Global Monoclonal Antibody Therapeutics Market Segmentation:
The global monoclonal antibody therapeutics market report is segmented into Source, Application, Distribution Channel and Region
Based on Source, the market is segmented into human, chimeric, murine, and humanized. Out of which, the humanized segment is expected to dominate the monoclonal antibody therapeutics market during the forecast period and this is due to the increase in the usage of humanized monoclonal antibody therapeutics for the treatment of diseases.
Based on Application, the monoclonal antibody therapeutics market is segmented into cancer, autoimmune disease, hematological disease, infectious disease, and others. Cancer segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of cancer.
Based on Distribution Channel, the monoclonal antibody therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. Hospital pharmacy segment is expected to dominate the market over the forecast period and this is attributed to the increasing use of monoclonal antibody therapeutics in hospitals.
Among all segmentation, application segment has the highest potential due to the increasing usage of monoclonal antibody therapeutics. For instance, in September 2021, according to an article published by SCIENTIFIC AMERICAN, a division of SPRINGER NATURE AMERICA, autoimmune diseases affect as much as 4.5 percent of the world’s population.
Global Monoclonal Antibody Therapeutics Market: Key Developments
In December 2021, VERA THERAPEUTICS, a clinical-stage biotechnology company, announced the acquisition of monoclonal antibody MAU868, a first-in-class monoclonal antibody to treat BK Virus (BKV) infections
In October 2022, Pfizer Inc., a multinational pharmaceutical and biotechnology corporation, announced the acquisition of Global Blood Therapeutics Inc., a clinical-stage biopharmaceutical company, to develop monoclonal antibody solutions for patients with sickle cell disease
In June 2021, TransGen Biotech Co., Ltd, a researcher and manufacturer of molecular and cellular biology products, announced the launch of ProteinFind, a anti-bax mouse monoclonal antibody
In September 2022, The U.S. Department of Health and Human Services (HHS) announced a new effort to help uninsured and underinsured Americans access the COVID-19 monoclonal antibody treatment bebtelovimab
The increasing acquisitions, product launch anf government initiatives is expected to create new opportunities for the global monoclonal antibody therapeutics market over the forecast period.
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Key Market Takeaways:
The global monoclonal antibody therapeutics market is expected to exhibit a CAGR of 12.69% during the forecast period due to the increasing usage of monoclonal antibody therapeutics. For instance, in May 2022, according to a report published by National Center for Biotechnology Information (NCBI), stated the use of monoclonal antibody therapy for the treatment of high-risk coronavirus (COVID-19) patients with mild to moderate disease presentations.
Among application, cancer segment is dominant due to the increasing prevalence of cancer, which is expected to drive the segment growth over the forecast period. For instance, in May 2021, according to an article published by National Center for Biotechnology Information (NCBI), an estimated 19.3 million new cancer cases were recorded globally.
Competitive Landscape:
Key players operating in the global monoclonal antibody therapeutics market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Merck KGaA, GSK plc., AbbVie Inc., Bristol-Myers Squibb Company, Regeneron Pharmaceuticals Inc., AstraZeneca, AbCellera Biologics Inc., Molecular Depot LLC, DAIICHI SANKYO COMPANY, LIMITED., Abbott, Biogen, Thermo Fisher Scientific, Inc., Cell Signaling Technology, Inc, Intas Pharmaceuticals Ltd., Avantor Inc., UCB S.A., Merus N.V., GENEXTGENOMICS.COM, Biogenuix.
Market Segmentation:
Global Monoclonal Antibody Therapeutics Market, By Source:
Human
Chimeric
Murine
Humanized
Global Monoclonal Antibody Therapeutics Market, By Application:
Cancer
Autoimmune Disease
Hematological Disease
Infectious Disease
Others
Global Monoclonal Antibody Therapeutics Market, By Distribution Channel:
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Global Monoclonal Antibody Therapeutics Market, By Region:
North America
By Country:
U.S.
Canada
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country:
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country:
GCC
Israel
Rest of Middle East
Africa
By Country/Region:
South Africa
Central Africa
North Africa
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