Worldwide Monoclonal Antibodies Industry to 2033 - Rising mAb Therapy Applications for Targeted Therapies Drives Growth

DUBLIN, Jan. 18, 2023 /PRNewswire/ -- The "Monoclonal Antibodies Market by Source Type, Production Type, Application, End Use, and by Region - Global Forecast to 2022-2033" report has been added to  ResearchAndMarkets.com's offering.

The monoclonal antibodies market size is estimated to be USD 189,432 million in 2022 and is expected to witness a CAGR of 11.42% during the forecast period 2023-2033.

Increasing incidence of chronic diseases such as cancer, cardiovascular disorders, and others, rising mAb therapy applications for targeted therapies and growing patient and physician knowledge of such therapies are factors contributing to the market growth.

Additionally, strategic initiatives performed by top companies for the development of mAb products and wide product launches and robust R&D for new product development is expected to propel the market growth. However, rising costs of mAb development and shortage of skilled workforce is expected to hinder the growth.

Strategic initiatives performed by top companies for the development of mAb products is expected to drive the market. For instance, Atlas Antibodies AB and T-Cure Bioscience, Inc. collaborated together to produce and supply CT83 mAbs in October 2021. Similar to this, Ono Pharmaceutical Co., Ltd. and Neurimmune AG partnered up to develop mAb medicines against new therapeutic targets for neurodegenerative diseases in January 2022.

Wide product launches and robust R&D for new product development is predicted to fuel the market growth. The potential for the monoclonal antibodies market to grow will be spurred by a strong emphasis on the research and development of novel monoclonal antibody therapeutics to provide highly targeted treatment for complex and severe diseases.

Industry participants will substantially benefit from government assistance and regulatory permits for the expansion of the monoclonal antibody business. For instance, the European Commission (EC) authorised Bristol Myers Squibb's OPDIVO and Yervoy combination therapy in June 2021 to treat patients with malignant pleural mesothelioma.

Competitor Insights

Some of the key players operating in the monoclonal antibodies market are GlaxoSmithKline plc, Merck & Co., Inc., Abbott Laboratories, Biogen Inc., AstraZeneca plc, Eli Lilly And Company, Novartis AG, Johnson & Johnson Services, Inc., Bayer AG, Amgen Inc., Bristol Myers Squibb, F. Hoffman-La Roche Ltd., Viatris Inc., Pfizer Inc, Daiichi Sankyo Company, Limited, Thermo Fisher Scientific, Inc., Novo Nordisk A/S, Sanofi S.A., and Merck KGaA.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

For instance, Sanofi S.A. and Blackstone Life Sciences collaborated to develop a subcutaneous Sarclisa mAb formulation faster for the treatment of multiple myeloma patients in March 2022.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including source type, production type, application, and end use from 2023 to 2033.

Market Segmentation: 

Source (Revenue, USD Million), 2022 - 2033

• Chimeric
• Human
• Murine
• Humanized

Production Type (Revenue, USD Million), 2022 - 2033

• In Vitro
• In Vivo

Application (Revenue, USD Million), 2022 - 2033

• Autoimmune Diseases
• Oncology
• Neurological Diseases
• Infectious Diseases
• Others

End Use (Revenue, USD Million), 2022 - 2033

• Specialty Centres
• Hospitals
• Others

By Region (Revenue, USD Million), 2022 - 2033

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA

Companies Mentioned

• GlaxoSmithKline plc
• Merck & Co. Inc.
• Abbott Laboratories
• Biogen Inc.
• AstraZeneca plc
• Eli Lilly And Company
• Novartis AG
• Johnson & Johnson Services Inc.
• Bayer AG
• Amgen Inc.
• Bristol Myers Squibb
• F. Hoffman-La Roche Ltd.
• Viatris Inc.
• Pfizer Inc
• Daiichi Sankyo Company
• Limited
• Thermo Fisher Scientific Inc.
• Novo Nordisk A/S
• Sanofi S.A.
• Merck KGaA

For more information about this report visit https://www.researchandmarkets.com/r/ovymzx

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