Portland, OR, March 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cancer monoclonal antibodies market generated $55.6 billion in 2021, and is estimated to reach $106.8 billion by 2031, witnessing a CAGR of 7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $55.6 Billion |
| Market Size in 2031 | $106.8 Billion |
| CAGR | 7% |
| No. of Pages in Report | 300 |
| Segments Covered | Antibody Type, Application, End User and Region |
| The rise in incidence of cancer | |
| An increase in the number of medication approvals | |
| Advancements in technology leading to improved and efficient testing methods | |
| An increase in investment in R&D of cancer monoclonal antibodies | |
| The increase in demand for personalized medicines | |
| Opportunities | The rise of immunotherapy, which uses monoclonal antibodies to treat cancer |
| Restraints | A lack of skilled professionals to carry out therapy |
Impact of COVID-19 Pandemic on Cancer Monoclonal Antibodies Market:
- The outbreak of the COVID-19 pandemic had a negative impact on the cancer monoclonal antibodies market as the hospitalization rate for infected patients increased and the scope of hospitalization for patients for surgeries reduced significantly.
- Due to the increase in hospitalization of Covid-19 patients, healthcare professionals postponed cancer treatments as patients with cancer have low immunity and there are high chances that they may catch infection quickly. Hence, the focus shifted to the management and control of the COVID-19 patients. Therefore, there was a reduction in cancer diagnosis cases during the pandemic, leading to a decline in demand for cancer monoclonal antibody testing.
- The market has gained momentum with life getting back to normal.
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The report offers a detailed segmentation of the global cancer monoclonal antibodies market based on antibody type, application, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
In terms of antibody type, the humanized segment captured the largest market share of two-fifths of the global cancer monoclonal antibodies market in 2021 and is expected to maintain a prominent revenue growth in 2031. The same segment is expected to achieve the fastest CAGR of 7.1% through 2031. The report also discusses the murine and chimeric segments.
In terms of application, the blood cancer segment captured the largest market share of more than one-third of the global cancer monoclonal antibodies market in 2021 and is likely to dominate the market in 2031. However, the lung cancer segment is expected to dominate in terms of revenue and achieve the fastest CAGR of 7.3% through 2031. The report also offers an analysis of breast cancer and others segments.
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Based on end user, the hospitals and clinics segment held the largest share in 2021, accounting for nearly three-fourths of the global cancer monoclonal antibodies market and would maintain its dominance through 2031. Moreover, the same segment is estimated to witness the fastest CAGR of 7.1% during the forecast period. The study also includes an analysis of the research and academic institute/laboratories segment.
Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global cancer monoclonal antibodies market in 2021 and is expected to rule the roost during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 7.5% from 2022 to 2031. The other regions analyzed in the study include LAMEA and Europe.
Leading players of the global cancer monoclonal antibodies market analyzed in the research include,
- Roche Holdings Ltd.
- Johnson & Johnson
- Pfizer Inc.
- Novartis AG
- AstraZeneca plc
- Merck & Co. Inc.
- Celgene Limited
- Bistrol-Myers Squibb
- Eli Lilly & Co.
- Abbvie Inc.
The report analyzes these key players of the global cancer monoclonal antibodies market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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