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Monoclonal Antibodies Market size to exceed $425bn by 2028
- Published Date: May 6, 2022
Monoclonal Antibodies Market size is set to surpass USD 425 billion by 2028, according to a new research report by Global Market Insights Inc.
The increasing demand for targeted therapies such as monoclonal antibodies for the treatment of infectious diseases, autoimmune diseases, viral infections, and others is creating huge market demand. Also, prominent market players are spending huge amounts on R&D for the development and launch of new and advanced monoclonal antibodies into the market. For instance, Regeneron Pharmaceuticals had spent around 2 billion on R&D for the development of REGEN-COV antibody for COVID-19 treatment.
Monoclonal antibodies bind to the spike of the COVID virus which helps in neutralizing the infection in patients. Thus, SARS-COV-2 monoclonal antibodies were used for the treatment of viral infection. Moreover, increased R&D activities and fast FDA approval introduced new monoclonal antibodies products into the market. These monoclonal antibodies are majorly used for the treatment of mild to moderate COVID-19 infection in adults and pediatrics. Such fast drug approval during the pandemic has enhanced the monoclonal antibodies market expansion.
Increasing use of humanized monoclonal antibodies will drive the market forecasts
Humanized segment exceeded USD 55 billion in 2021. Increasing prevalence of cancer in the population across the globe will positively influence the industry revenue. In response to cancer, monoclonal antibodies are considered as an effective and targeted tool to control cancer progression and metastasis. Also, various humanized monoclonal antibodies such as Panitumumab, Necituzumab and others became very popular because these antibodies generate lower levels of anti-drug antibodies (ADAs) and low incidence of ADAs had been reported as compared to other chimeric types. Therefore, the highly effective nature of monoclonal antibodies will foster the industry statistics.
Browse key industry insights spread across 160 pages with 193 market data tables & 15 figures & charts from the report, “Monoclonal Antibodies Market Size By Type (Fully Human, Humanized, Chimeric), Application (Oncology, Autoimmune Diseases, Infectious Diseases), End-use (Hospitals, Specialty Centers), Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Monoclonal antibodies (mAb) therapy is becoming increasingly promising in the infectious disease field
Monoclonal antibodies market from infectious disease segment will grow at 13.8% CAGR during the forecast period. The monoclonal antibodies have proven to be a prominent treatment for various infections such as anthrax, respiratory syncytial virus, ebola virus disease, COVID-19. For instance, during COVID-19 infection Bamlanivimab/Etesevimab,?casirivimab, and imdevimab were proven to be very effective when vaccines were not available for the people. These antibodies came as a therapeutic tool because they are potent in attacking multiple strains of the virus such as omicron, delta, etc. Such aforementioned factors are going to augment the market revenue.
Increasing number of patient visits accessing treatment for infectious diseases in hospitals will accelerate the industry trends
Monoclonal antibodies market from specialty centers segment captured more than 24% revenue share in 2021 and is set to register a significant CAGR through 2028. This is due to growing rate of infectious diseases and chronic diseases along with increase in establishments of specialty centers. Various countries across the world are investing in establishing technologically advanced healthcare settings such as a specialty centers where they can provide advanced diagnosis and treatment to patients. Moreover, the pandemic has demonstrated the critical importance of high-quality treatment at specialty centers. Thus, high investment in medical infrastructure to provide top quality care will boost the market statistics.
Growing government initiatives to develop an advanced healthcare sector will foster the European market outlook
Europe monoclonal antibodies market accounted for 27% revenue share in 2021. This is due to the presence of major players and sophisticated healthcare infrastructure. The COVID-19 crisis has highlighted the need for pan-Europe healthcare policies. Additionally, the union is also developing a centralized healthcare database via European Health Information Initiative (EHII), through which they can strengthen their healthcare network. Therefore, the launch of such initiatives by the European Union in the pan Europe will advance healthcare facilities, and accessibility of medical products in low-income countries are going to enhance the industry growth in Europe.
Collaborative agreements and partnerships will fortify companies’ business performance
Some of the notable players operating in the monoclonal antibodies industry are F. Hoffmann-La Roche, AbbVie Inc., Amgen Bristol Myers Squibb, and Novartis AG. These market players are keenly involved in collaborative efforts to develop new products and launch novel drugs into the market.
For instance, in June 2021, Amgen with Kyowa Kirin Co. Ltd., came into an agreement to develop and commercialize KHK4083 product, a fully human monoclonal antibody for the treatment of atopic dermatitis. Such collaborative initiatives will benefit the company in market expansion.