Monoclonal Antibodies Market to hit USD 425 Billion by 2028, Says Global Market Insights Inc.
Monoclonal Antibodies Industry is anticipated to register around 13% CAGR between 2022 and 2028 due to increasing product availability and high adoption of monoclonal antibody therapeutics in developed & developing countries.
SELBYVILLE, Del., May 17, 2022 /PRNewswire/ -- The monoclonal antibodies market value is projected to reach USD 425 billion by 2028, according to a new research report by Global Market Insights Inc. Expanding therapeutic applications of monoclonal antibodies (mAbs) with extensive R&D by research institutes as well as operating companies will propel the market expansion.
Higher prevalence of cancer in the developed as well as developing nations has influenced the development activities of innovative targeted therapies across the pharmaceutical firms. Thus, the increasing rate of product launches catering to rising disease burden will drive the industry demand. With high mortality rate, the firms are continuously investing in R&D to offer effective treatment. Further, as mAbs have wide applications in the treatment of blood cancer, brain cancer, breast cancer, colorectal cancer, and lung cancer.
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The emergence of COVID-19 has severely affected huge population base leading to the number of mortalities across the globe. Newly emerging aggressive strains of the virus has driven the demand for development of highly sufficient and effective drug therapy. Thus, the researchers are focused to advance the treatment regimen with the use of mAbs. The companies are continuously launching beneficial therapies to reduce the number of infections associated mortalities. Recently, in February 2022, the U.S FDA confirmed an emergency use authorization (EUA) of a new monoclonal antibody developed for the COVID-19 treatment having ability to retain its activity against the new omicron variant.
Some major findings of the monoclonal antibodies market report include:
- Rising funding and investment in product development owing to the significant growth opportunities for mAbs in future will augment the market revenue.
- Increasing demand of targeted therapies for several complex and severe health conditions will spur the industry statistics.
- High prevalence of cancer across the globe coupled with broader availability of mAb-based cancer therapeutics will boost the market forecasts.
- Strong product pipeline catering to rarely identified and complex diseases will lead to numerous product launches in the coming years.
Browse key industry insights spread across 160 pages with 193 market data tables & 15 figures & charts from the report, "Monoclonal Antibodies Market Analysis by Type (Fully Human, Humanized, Chimeric), Application (Oncology, Autoimmune Diseases, Infectious Diseases), End-use (Hospitals, Specialty Centers), Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/monoclonal-antibodies-market
Monoclonal antibodies market from chimeric segment held more than 11% revenue share in 2021 owing to its advantages associated with product manufacturing and development such as batch-to-batch reproducibility and homogeneous specificity and affinity. Further, it has ability to generate huge quantities of fully characterized antibodies. Additionally, these are considered as reliable alternative to the available serum-based calibrators.
Autoimmune diseases segment is projected to grow at 12.4% CAGR during the forecast timeframe. This is highly attributable to promising effect of monoclonal antibodies in the treatment of range of autoimmune disorders including multiple sclerosis (MS) and rheumatoid arthritis (RA). For instance, the anti-CD20 mAb treatment is used among patients diagnosed with rheumatoid arthritis. Also, mAbs have capability to target different cytokine proteins imparting the inflammation in RA. Thus, the growing prevalence of autoimmune diseases and availability of effective mAb therapies will lead to the escalated monoclonal antibodies market demand.
Specialty centers segment was valued at over USD 44 billion revenue in 2021. availability of specialized and focused disease treatment in these centers is driving the patient preference. These facilities are highly equipped with advanced technologies and required medical therapies for particular disease treatment that has helped to deliver high patient outcomes. Moreover, the government as well as other non-profitable organizations are helping to broaden healthcare facility network including specialty centers that will drive the segment revenue.
Asia Pacific monoclonal antibodies market is estimated to progress at 14.1% CAGR during the analysis timeframe. The major countries such as China, Japan and India with huge population base and improving product accessibility are significantly contributing to the market size. Further, the expansion of manufacturing capabilities by the leading players in the region will favor product sales and distribution. Additionally, these countries are focusing on speedy product approvals by aligning its regulatory and drug approval process.
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Notable companies in the global monoclonal antibodies market including F. Hoffmann-La Roche, AbbVie Inc., Amgen, Bristol Myers Squibb, Johnson & Johnson, Merck & Co., Inc., Regeneron Pharmaceuticals Inc., Bristol Myers Squibb, AstraZeneca, Eli Lilly and Company, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, and Novartis AG.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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SOURCE Global Market Insights Inc.
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