Selbyville, Delaware, June 08, 2021 (GLOBE NEWSWIRE) --
According to latest report “Monoclonal Antibodies Market by Type (Fully Human, Humanized, Chimeric), Application (Oncology, Autoimmune Diseases, Infectious Diseases), End-use (Hospitals, Clinics), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of monoclonal antibodies will cross $380 billion by 2027. Growing applications of monoclonal antibodies in preventive and therapeutic medicine will drive the market growth.
Growing prevalence of cancer across the globe has pushed healthcare firms to develop innovative therapies for superior treatment of the life-threatening disease. According to the International Agency for Research on Cancer, breast cancer and prostate cancer were the most prevalent cancer forms in 2020. Also, as per the World Health Organization, around ten million deaths were reported due to cancer in 2020. With such high prevalence and fatality of the disease, firms are investing in research and launch of monoclonal antibody-based drugs in the market. As reported in May 2021, Sugemalimab, an anti-PD-L1 monoclonal antibody, met its principal endpoint of improving progression-free endurance at a premeditated interim analysis in patients with stage 3 of non-small cell lung cancer. In addition, mAbs have application in treating breast cancer, brain cancer, colorectal cancer, blood cancer and lung cancer among several others, that will further increase its adoption rate during the forecast period.
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COVID-19 has severely infected large population base and caused mortalities across the globe. With emergence of aggressive strains of the virus, development of highly effective drug therapy has become necessary and scientists are advancing treatment regimen with the use of mAbs.
Chimeric monoclonal antibodies market accounted for around 11% in 2020. Chimeric antibodies are simple to produce with the use of recombinant technology. This type of mAbs are being used to treat various autoimmune disorders and blood cancers. Moreover, due to greater specificity, chimeric mAbs can be targeted towards particular disease, thereby useful in precision medicine. With growing use of precision medicine, market will foresee robust demand during the forecast timeframe.
Autoimmune diseases segment in the monoclonal antibodies market is projected to witness 13.3% growth rate through 2027. Monoclonal antibodies have shown promising effect in treating range of autoimmune disorders including rheumatoid arthritis, multiple sclerosis (MS) and lupus erythematosus (SLE). The anti-CD20 mAb treatment is used in patients suffering from rheumatoid arthritis (RA). Also, mAbs target various cytokine proteins that impart to the inflammation in RA. As per the Arthritis Foundation, arthritis is found in approximately one adult among four in the U.S.
Clinics end-use segment held more than 20% of the monoclonal antibodies market share in 2020. Increasing number of patient visits in clinics is creating higher demand for preventive and therapeutic medicine. Expanding number of clinics has positively impacted the accessibility and convenience to the patients. Furthermore, cost-effectivity and presence of skilled personnel will contribute to the segment revenue in the coming years.
Asia Pacific monoclonal antibodies market is predicted to expand at a CAGR of over 15% by 2027. Countries such as China, Japan and India significantly contribute to the regional growth. India has a large manufacturing capacity in the pharmaceutical and biopharmaceutical sector. Also, among other low- and middle-income countries, India has relatively higher approval rate of mAb products. Additionally, China has also aligned its regulatory and drug approval process to align with those of western countries for speedy approval.
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Notable players involved in the global monoclonal antibodies market include Johnson & Johnson, Merck, Bristol-Myers Squibb, AbbVie and Roche among other players. Prominent companies are innovating through robust investment and focus on research and development activities. Firms are also emphasizing on discovering broader range of applications in treatment of chronic and deadly conditions, that will further fortify their customer base and market footprint.
Table of Contents (ToC) of the report:
Chapter 3 Monoclonal antibodies Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By application
3.4.3 By end-use
3.5 Regulatory landscape
3.6 Future trends in monoclonal antibody-based therapeutics
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.8.1 Company matrix analysis, 2020
3.8.2 Brand analysis
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.