Portland, OR, July 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Monoclonal Antibodies Market was estimated at $146.64 billion in 2020 and is expected to hit $390.58 billion by 2030, registering a CAGR of 10.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in prevalence of various cancer types, rise in demand for cost-efficient biosimilar monoclonal antibodies, and upsurge in likelihood of epidemic or pandemic outbreaks drive the growth of the global monoclonal antibodies market. On the other hand, poor demand in underdeveloped countries restrains the growth to some extent. However, several growth opportunities in emerging markets have proven to be beneficial for the market growth.
COVID-19 scenario-
- Rise in necessity for treatments available on a global scale has encouraged rapid development of a large number of SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2) neutralizing monoclonal antibodies (mAbs).
- Thus, COVID-19 infection uplifted growth and opportunities for the key players of the monoclonal antibodies market.
The global monoclonal antibodies market is analyzed across source, indication, end user, and region. Based on source, the human segment accounted for more than two-fifths of the total market revenue in 2020, and is expected to dominate by the end of 2030. The same segment would also cite the fastest CAGR of 11.0% from 2021 to 2030.
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Based on indication, the cancer segment contributed to nearly three-fifths of the total market share in 2020, and is projected to rule the roost by 2030. The same segment would also showcase the fastest CAGR of 10.7% throughout the forecast period.
Based on region, North America held the major share in 2020, garnering more than two-fifths of the global market. The market across Asia-Pacific, on the other hand, would cite the fastest CAGR of 11.7% during the forecast period. Other regions profiled in the report include LAMEA and Europe.
The key market players analyzed in the global monoclonal antibodies market report include Abbott Laboratories, AstraZeneca plc., Amgen Inc., Eli Lilly, GlaxoSmithKline Plc., Bayer AG, Johnson & Johnson, Pfizer, Merck & Co. Inc., and Novartis. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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