Pune, India, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The global monoclonal antibody therapy market size was USD 157.33 billion in 2020. The market is projected to grow from USD 178.50 billion in 2021 to USD 451.89 billion in 2028 at a CAGR of 14.1% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Monoclonal Antibody Therapy Market, 2021-2028.” As per our researchers, escalating research and development subsidy for the development and upgrading of fresh monoclonal antibodies is projected to strengthen the market during the mentioned timeframe. The present giant companies in the market are constantly rooting for novel innovations and providing authorized drugs for the betterment of society.
Key Industry Development:
GlaxoSmithKline plc joined forces with Vir Biotechnology, Inc. for the formation and enhancement of treatment for the COVID-19 virus, making use of monoclonal antibody platform technology owned by Vir Biotechnology.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 14.1% |
| 2028 Value Projection | USD 451.89 billion |
| Base Year | 2020 |
| Scleral Lens Market Size in 2020 | USD 157.33 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 135 |
Key Takeaways
- Biosimilars of prevailing mAb therapeutics will further drive market growth.
- Increasing prevalence of chronic diseases such as cancer is one of the major factors driving the growth of the global market.
- Human mAb segment accounted for the highest share of 41.9%.
- North America Holds Largest Market Share in Monoclonal Antibody Therapies i.e. 75.19 billion in 2020.
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Drivers and Restraints:
Substantial Investment in Formation of New Monoclonal Antibodies to Navigate Growth
Monoclonal antibody therapy is rapidly developing as an effective and remarkable device for treating prolonged sicknesses, particularly cancer. The inclination towards this therapy is progressively intensifying, causing skyrocketing sales of several drugs such as Herceptin and Humira, among others. This has motivated chief pharmaceutical businesses to amplified research expenditure in the sector of monoclonal antibodies. For instance, AstraZeneca, which is a pharmaceutical marvel, is directing phase II medical experiments on Tezepelumab for the curing of atopic dermatitis. Likewise, pipeline prospective applicants are anticipated to fuel the market in the near future.
Keeping this aside, the affirmative indication from the controlling establishments for the entrance of biosimilars of prevailing mAb therapeutics is additionally promoting the market growth. This is therefore estimated to navigate the monoclonal antibody therapy market growth during the forecast period of 2021-2028.
Segments:
Based on type, the market is segregated into human monoclonal antibody, humanized, monoclonal antibody, chimeric monoclonal antibody, and murine monoclonal antibody. The human monoclonal antibody segment was responsible for the leading position. This can be accredited to the augmented sales and demand for Humira.
On the basis of application, the market is classified into type cancer, autoimmune diseases, and others. Based on the distribution channel, the market is categorized into hospital pharmacy, retail pharmacy, and online pharmacy. In terms of geography, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Report Coverage:
We offer an all-inclusive study of the monoclonal antibody therapy market along with current trends and future anticipations to establish proximate investment gains. Also presented in the report is an in-depth analysis of any possible opportunities, dangers, oppositions, or driving factors. We have conducted a systematic regional analysis for better comprehension of the global market size, share, and structure. The COVID-19 impacts have been provided to help stakeholders and business owners to invest their money carefully at the right time. The key players in the market are acknowledged, and their schemes to boost the growth of the market are revealed in the report.
Regional Insights:
North America to Lead Stoked by Increasing Research Investments by Companies
North America held the maximum monoclonal antibody therapy market share and was worth USD 75.19 billion in 2020. Aspects credited for the dominance of North America include innovative product presentations, rising research finance and associations, and surging commonness of prolonged sicknesses. As per the National Cancer Institute, in 2020, there were reported 1.8 million fresh cases of cancer in the U.S. This is projected to upsurge the demand for monoclonal antibody therapy solutions in North America.
In Europe, the market is composed to grow owing to positive health compensation policies and effortless sanctions, and the promotion of biosimilars. In October 2018, Biogen publicized the unveiling of Imraldi, which is an adalimumab biosimilar that is likely to assist the market in spurring in European countries.
Asia Pacific is estimated to witness significant growth during the forecast period. Increasing occurrences of arthritis and provocative ailments, growing geriatric populace, and surging inclination towards biosimilars are principal causes for the enlargement of the market in Asia Pacific region.
Competitive Landscape:
Key Players Partner Up to Deliver Optimum Results to Consumers
Several key players are constantly trying to develop and form new drugs in the market in order to help the consumers and healthcare experts. In their incessant desire to conquer the global market, they tend to apply several efficient strategies such as partnerships, mergers, and collaborations, among others. For instance, in October 2017, Incyte and MacroGenics, Inc. together declared their collaboration and warrant deal for MGA012, which is a novel and analytic monoclonal antibody presented by MacroGenics, Inc.
List of Key Players Mentioned in the Report:
- AbbVie Inc. (Illinois, United States)
- Merck & Co., Inc. (New Jersey, United States)
- F.Hoffmann-La Roche Ltd. (Basel, Switzerland)
- Bristol-Myers Squibb Company (New York, United States)
- Johnson & Johnson Services, Inc. (New Jersey, United States)
- Daiichi Sankyo Company, Limited (Tokyo, Japan)
- Novartis AG (Basel, Switzerland)
- Alexion Pharmaceuticals, Inc. (Massachusetts, United States)
- Amgen Inc. (California, United States)
- Others
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Major Table of Contents:
- Global Monoclonal Antibody Therapy Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Human Monoclonal Antibody
- Humanized Monoclonal Antibody
- Chimeric Monoclonal Antibody
- Murine Monoclonal Antibody
- Market Analysis, Insights and Forecast – By Application
- Cancer
- Autoimmune Diseases
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Monoclonal Antibody Therapy Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Human Monoclonal Antibody
- Humanized Monoclonal Antibody
- Chimeric Monoclonal Antibody
- Murine Monoclonal Antibody
- Market Analysis, Insights and Forecast – By Application
- Cancer
- Autoimmune Diseases
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Monoclonal Antibody Therapy Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Human Monoclonal Antibody
- Humanized Monoclonal Antibody
- Chimeric Monoclonal Antibody
- Murine Monoclonal Antibody
- Market Analysis, Insights and Forecast – By Application
- Cancer
- Autoimmune Diseases
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Countries/ Sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
TOC Continued…!
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