Press release
Monoclonal Antibodies Market Size, Growth, In-depth Analysis, Research Report Forecast up to 2027: AbbVie, Inc. and Amgen, Inc. are key players.
Monoclonal Antibodies Market is expected to grow at a CAGR of 7.12% to reach a market size worth US$51.913 billion by 2027.The prime factor propelling the monoclonal antibodies market growth is the rising demand for these antibodies in cancer treatment and diagnostics.
As per the report, the market about monoclonal antibodies market is expected to grow at a steady pace.
A monoclonal antibody is a molecule that strengthens the immune system's defenses against infection or cancerous intruders. Since it was created in a facility, it falls under man-made drugs. Monoclonal antibodies have an advantage over other forms of infection treatment because they are made to target a particular component of the infectious process. It is created when a white blood cell is exposed to a specific virus protein. Then, it is copied to mass-produce antibodies that specifically target that virus. Monoclonal antibodies are created to address a variety of viral infections, including rabies and Ebola. Because of the increasing demand, market participants are concentrating their efforts on developing and discovering monoclonal antibody therapeutics. The decision to provide precise treatment for complicated and severe diseases will boost the market potential for monoclonal antibodies.
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The monoclonal antibodies market has been categorized based on indication, source, application end-user, and geography.
Based on the indications, the market has been divided into categories: inflammatory disease, microbial disease, cancer, and others. The cancer indication is anticipated to have a significant market share. According to the World Health Organization, approximately 10 million people died from cancer in 2020. Because monoclonal antibodies are extremely beneficial in cancer treatment, a growing demand for low-cost cancer therapies will continue augmenting the demand for monoclonal antibodies during the forecast period.
Based on the source, the classification is done into humanized, human, chimeric, and murine. However, the human segment will constitute a significant market share for monoclonal antibodies during the forecasted period. This is because the human source regulates functions effectively and is less immunogenic. Furthermore, phage display and hybridoma methods can be used to produce these antibodies in transgenic mice. As a result, the production of fully human monoclonal antibodies-based sources is expected to boost with recent technological advancements in genetic engineering.
By application, the market has been classified into diagnostic, therapeutic, and others. However, the diagnostic application will have a significant market share in monoclonal antibodies during the forecasted period as these processes are utilized widely for diagnosing cancer and other diseases.
By end-user, the market has been classified into hospitals & clinics and research laboratories. Due to the growing use of monoclonal antibodies for cancer treatment at hospitals, this segment is expected to constitute a significant proportion of the market. In addition, increased patient awareness levels, rising healthcare spending globally, and the availability of cutting-edge hospital facilities in developed nations are anticipated to contribute to the segment's dominance over the forecast period.
By region, North America is expected to retain a considerable market share due to the region's high rates of obesity and cancer infection caused by the region's high boose consumption and junk/fast food culture. According to the American Cancer Society research, it was found that in 2019, at least 42% of cancer cases in the US that was newly diagnosed were possibly preventable, amounting to about 740,000 cases.
The major players operating in the monoclonal antibodies market are Eli Lilly and Company, AbbVie, Inc., Novartis AG, Bristol Myers Squibb, F.Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Amgen Inc., Merck & Co. Inc., and AstraZeneca PLC.
This Monoclonal Antibodies Market has been analyzed into the following segments:
• By Indication
o Inflammatory Disease
o Cancer
o Microbial Disease
o Others
• By Source
o Humanized
o Human
o Chimeric
o Murine
• By Application
o Diagnostic
o Therapeutic
o Others
• By End-User
o Hospitals & Clinics
o Research Laboratories
• By Geography
o North America
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• France
• United Kingdom
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• India
• Japan
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others
Related Reports:
• https://www.knowledge-sourcing.com/report/global-biosimilar-market
• https://www.knowledge-sourcing.com/report/global-research-antibodies-market
• https://www.knowledge-sourcing.com/report/global-biologics-market
• https://www.knowledge-sourcing.com/report/next-generation-sequencing-market
• https://www.knowledge-sourcing.com/report/global-antibody-drug-conjugates-market
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies across ten industry verticals. KSI has a team of experienced and young professionals who focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports annually centering on the niche and latest technologies. In addition, we engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers, and challenges, and strategic recommendations for making informed decisions. Our success lies in our analysts' efforts to meet client expectations by delivering quality work within the stipulated deadlines.
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