Pune, India, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The global monoclonal antibody therapy market size was USD 157.33 billion in 2020 and market is projected to grow USD 451.89 billion in 2028 at a CAGR of 14.1% in the 2021-2028 period. Research and development subsidy for the development and upgrading of fresh monoclonal antibodies is projected to strengthen the market.
The present giant companies in the market are constantly rooting for novel innovations and providing authorized drugs for the betterment of society. For instance, in December 2019, CARsgen Therapeutics was granted Investigational New Drug (IND) approval for AB011 in China, which is a civilized monoclonal antibody for treating gastrointestinal and pancreatic adenocarcinoma. This information is published by Fortune Business Insights™ in its report titled, “Monoclonal Antibody Therapy Market, 2021-2028.”
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Industry Development
April 2020: 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.
Key Takeaways:
- The sudden rise in CAGR is attributable to market demand and growth during forecast period.
- The increasing prevalence of chronic diseases such as cancer is one of the major factors augmenting the growth of the global market.
- The market size in North America stood at USD 75.19 billion in 2020.
- The human monoclonal antibody segment is set to lead this market during the forecast period.
Discover the Leading Players Featured in the Report:
“Companies leading the global monoclonal antibody therapy market are 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)”
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 |
| Market Size in 2021 | USD 178.50 billion |
| Historical Data | 2017 to 2019 |
| No. of Pages | 135 |
| Segments covered | Type; Application; Distribution Channel; and Geography |
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Segmentation
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.
By Type
- Human mAb
- Humanized mAb
- Chimeric mAb
- Murine mAb
By Application
- Cancer
- Autoimmune Diseases
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Geography
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- The Middle East & Africa (GCC, South Africa, Rest of the Middle East & Africa)
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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.
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.
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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.
FAQ’s
How big is the Monoclonal Antibody Therapy Market?
The global Monoclonal Antibody Therapy Market size was estimated at USD 178.50 billion in 2021 and is expected to reach USD 451.89 billion in 2028.
What is the market size of Monoclonal Antibody Therapy Market?
The Monoclonal Antibody Therapy Market will exhibit a CAGR of 14.1% during the forecast period, 2021-2028.
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