Monoclonal Antibodies Market Outline and Updates..!!
Increasing prevalence of chronic diseases such as cancer is a major factor that is expected to fuel the monoclonal antibodies market growth over the forecast period. For instance, according to the World Cancer Research Fund International’s report, in 2018, breast cancer accounted for the second highest number of cancer cases worldwide, accounting for 2,088,849 new cases worldwide in 2018. Also, according to the National Cancer Institute, 2016, the number of new cancer cases per year is expected to increase to 23.6 million by 2030, worldwide.
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Global Monoclonal Antibodies Market – Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 37.1 million infected individuals worldwide as of 11th October, 2020.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets.
Clinical trial is rising drastically due to the Covid-19 outbreak. Many market players are collaborating for research and development, in order to develop new monoclonal antibody therapies to address the Covid-19 outbreak. This is expected to drive the market growth over the forecast period. In April 2020, GlaxoSmithKline plc collaborated with Vir Biotechnology, Inc. for the development of coronavirus solutions to combat COVID-19. In the agreement, Vir’s proprietary monoclonal antibody platform technology is utilized to identify new anti-viral antibodies, which can be used as therapeutic or preventative options to address the current COVID-19 pandemic. In June 2020, AbbVie, Harbour BioMed, Utrecht University, and Erasmus Medical Center announced a collaboration in order to develop a monoclonal antibody therapeutic to prevent and treat COVID-19, caused by the SARS-CoV-2 virus.
Major players operating in the global monoclonal antibodies market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi S.A., F. Hoffmann-La Roche AG, Eli Lilly and Co., Merck & Co., Inc., GlaxoSmithKline Plc., AbbVie Inc., Bristol-Myers Squibb, and Regeneron Pharmaceuticals Inc.
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