Monoclonal Antibodies Market 2019 Expected to Grow 150.8 billion US$ by 2026 with Key Players Novartis International AG, Pfizer Inc., GlaxoSmithKline plc, Amgen Inc.

Monoclonal antibodies derived from one type of immune cell, each a clone of a single parent cell. These antibodies are used in the immunotherapy for the treatment of various chronic diseases such as cancer, Multiple sclerosis, cardiovascular diseases and other. The monoclonal antibodies inhibit and target with the exploit of a receptor or chemical that is involved in the development of the disorder that is being treated.

The global monoclonal antibodies market was valued at USD 95.5 billion in 2018 and is expected to reach USD 150.8 billion in 2026, growing at a CAGR of 5.8% during the forecast period.

Growing prevalence of chronic diseases across the globe is the major factor that propelling the growth of the market during the forecast period. Chronic diseases are diseases which continue for long time and which generally cannot be prevented through vaccines or medications. The major reason for increasing chronic disease includes lack of nutritious diet, physical activities and aging population. The foremost chronic diseases include CVD, strokes, heart attack, cancer, diabetes, breast cancer, obesity and other health disorders. Early detection is a major factor in managing chronic diseases. There is significant rise in number of patients with chronic diseases.

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Top Key Players
Novartis International AG, (Switzerland), Pfizer Inc. (US), GlaxoSmithKline plc (UK), Amgen Inc. (US), Merck & Co., Inc. (the US), Daiichi Sankyo, Inc. (Japan) Abbott Laboratories (US), are the major players operating in the global monoclonal antibodies market

Monoclonal Antibodies Market is segmented by Type, Indication, End User and Region.

By Type: in-vitro and in-vivo

By Indication: cancer, inflammatory diseases, autoimmune diseases, infectious diseases, microbial diseases, and others

By End User: hospitals, research institutes, and others.

By region the market is growing in following region in North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Over the forthcoming years, the trend is likely to continue, ensuring the dominance of these regions.

According to America Cancer Society for 2017, a number of 1.6 million new cancer cases were diagnosed and 600,920 people dies due to cancer in the US. Additionally, NIH has estimated that there will be 1,735,350 new cases of cancer in the US by the end of 2018. The genetic alterations enable in driving development & progress of different types of cancer which are identified through platform of research studies. Genomic studies and advanced technologies enable defining driver mutation and alteration of DNA & RNA in many cancers.

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The genomic information from tumours and normal tissue are compared which helps the required genomic changes. The genomic methods are used to detect molecular characteristics for clinical phenotypes which enables the detection of genetic changes. Therefore, the increasing genomic research further provide ample opportunity to the market.

The emerging economies such as Asia-Pacific region is one of the potential markets for monoclonal antibodies. The factors that will be favourable for the growth of the market in this region includes increasing government expenditures on healthcare in the region, and the presence of huge population suffering with various chronic diseases such as cancer, hypertrophic cardiomyopathies, arrhythmias and others. The average annual increase in government healthcare spending in the US is 4.5% and less than 1.5% in the European Union.

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This release was published on openPR.