Global Monoclonal Antibody Therapeutics Market Set for Rapid Growth, to Reach Around USD 218.97 Billion by 2022
Monoclonal Antibodies Market Outlook 2030:
Increased cancer prevalence, increased demand for cost-effective biosimilar monoclonal antibodies, high demand for biologics, and increased genomics R&D activities, as well as the introduction of technologically advanced genetic platforms, such as next-generation sequencing, are the major factors driving market growth. Furthermore, an increase in research collaborations for the development of a robust drug pipeline, an increase in patient and physician awareness of the applications of monoclonal antibodies (mAb) therapy, and the approval of blockbuster mAbs for a variety of applications all contribute to the market’s growth. Other factors driving market growth include the use of advanced genetic engineering technology in the production of mAbs, the presence of a well-established healthcare infrastructure, government support for infection control and management, and an increase in the incidence of lifestyle-related diseases. However, the monoclonal antibody market is projected to be constrained by low demand in developing nations. Growth potential in emerging markets, on the other hand, are projected to be lucrative over the forecast period.
The global monoclonal antibodies market was worth $146,642 million in 2020, and is expected to grow to $390,582 million by 2030, with a CAGR of 10.2% from 2021 to 2030.
The World Health Organization (WHO) declared the COVID-19 outbreak a public health emergency of worldwide significance on January 30, 2020. Around 210 countries have been affected by COVID-19. The COVID-19 pandemic is an unprecedented worldwide public health threat that is expected to have a beneficial influence on the monoclonal antibody market for the development of COVID-19 monoclonal antibody therapy. The rapid production of a significant number of SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2) neutralising monoclonal antibodies has been aided by the understanding of the urgent need for treatments available on a worldwide scale (mAbs). Consequently, COVID-19 infection boosted growth and possibilities for monoclonal antibody major players during the anticipated period.
Monoclonal antibody (mAb) therapy is a type of immunotherapy that involves the use of monoclonal antibodies to attach to specific proteins or cells. Monoclonal antibodies are identical immune cell clones of a single parental cell. Because these antibodies have monovalent affinity, they can bind to a specific antigen when given. Because of their site specificity, monoclonal antibodies are useful tools for detecting and purifying chemicals, and they have a wide range of applications in biochemistry, molecular biology, and medicine.
Market Segmentation for Monoclonal Antibodies
The market for monoclonal antibodies is divided into four categories: source, indication, end user, and geography. The market is divided into murine, chimeric, humanised, and human segments based on the source. The market is classified into cancer, autoimmune disorders, inflammatory diseases, infectious illnesses, and other diseases, according to indications. Breast cancer, colorectal cancer, lung cancer, ovarian cancer, and other cancers are all included in the cancer category. The market is segmented by end user into hospitals, research institutes, and others. The market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean.
Analyze the segments
The human category is the largest revenue generator, according to source, and is expected to rise significantly during the forecast period. Increased integration of advanced technology for human monoclonal antibody generation, such as phage or yeast display, and transgenic mice, as well as increased usage for the treatment of various chronic diseases, employment of advanced genetic engineering technology, increased government support for infection control and management, and an increase in the number of product approvals, are the major factors driving the market’s growth.
A snapshot of the monoclonal antibody market in Asia-Pacific
Due to an increase in the number of initiatives and increased government spending for overall R&D of monoclonal antibody therapy and a rise in the number of product approvals, Asia-Pacific delivers attractive prospects for key players operating in the monoclonal antibodies market. In addition, the market is expected to rise due to ongoing developments in monoclonal antibodies, the availability of modern healthcare systems, and a considerable increase in demand for advanced healthcare facilities. Furthermore, leading manufacturers’ increased attention on increasing their geographical presence in growing Asia-Pacific countries to acquire high market share is predicted to fuel the region’s monoclonal antibody market expansion.
Stakeholders’ Key Benefits
The report examines the size of the monoclonal antibodies market, as well as current trends and future projections, in order to identify potential investment opportunities.
It provides a market study of monoclonal antibodies from 2020 to 2030, which is expected to help stakeholders capitalise on market opportunities.
To identify the current opportunities, a complete examination of four regions is offered.
To comprehend the competitive perspective of the global monoclonal antibodies market growth, the profiles and growth strategies of the leading players are thoroughly examined.