Monoclonal Antibodies Market worth over $380bn by 2027
Published Date: June 7, 2021 Authors: Sumant Ugalmugale, Rupali Swain
Monoclonal Antibodies Market size is set to surpass USD 380 billion by 2027, according to a new research report by Global Market Insights, Inc.
The increasing burden of various chronic and infectious disease will create new avenues for the market players. Rising incidence of cancer cases has compelled companies to innovate therapies for better treatment. According to the World Health Organization (WHO), cancer is the leading cause of death worldwide, accounted for nearly 10 million deaths in 2020. Further, growing number of product launches coupled with speedy FDA approvals are also the factors augmenting the market growth.
COVID-19 has positively impacted the overall market. Monoclonal antibodies can neutralize the virus in infected patients and are novel class of antiviral interventions. SARS-COV-2 monoclonal antibodies have the potential to be used for both treatment and prevention of infection. Thus, increasing research and development activities and speedy FDA approval will introduce new products in the market. For instance, in February 2021, the FDA approved emergency use of Etesvimab and Bamlanivimab. These products are used together for the treatment of mild to moderate COVID-19 infection in adults and pediatrics.
Increasing use of humanized monoclonal antibodies will drive the market expansion
Humanized monoclonal antibodies segment accounted for USD 48.7 billion in 2020. Growing number of product launches and regulatory support for humanized mAbs are fostering the industry growth. Moreover, humanized mAbs are used for treatment of various application of cancers such as lung cancer, melanoma, Hodgkin’s lymphoma, and stomach cancer. Thus, rising use of humanized mAbs coupled with increasing incidence of cancer will boost the market progression.
Browse key industry insights spread across 150 pages with 169 market data tables & 15 figures & charts from the report, “Monoclonal Antibodies Market Size By Type (Fully Human, Humanized, Chimeric), By Application (Oncology, Autoimmune Diseases, Infectious Diseases), By End-use (Hospitals, Clinics), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027”” in detail along with the table of contents:
Monoclonal antibodies (mAb) therapy is becoming increasingly promising in the infectious disease field
Infectious disease segment is expected to witness 14.8% growth rate through 2027. The mAbs have become predominant treatment modality for various infectious diseases in the recent years. Increasing incidence of various infectious diseases including the COVID-19 has stimulated the discovery and development of mAbs therapies. Thus, with the growing number of COVID-19 cases worldwide and limited vaccine availability for general public in several countries, the mAbs will remain a viable option for treatment of COVID-19 infection. Thus, so far, more than 50 monoclonal antibodies (mAbs) against SARS-CoV-2 are at various stages of development, leading to launch of several product launches in the market in the near term.
Rising number of patient visits accessing treatment for various chronic and infectious disease in the hospitals will fuel the segment growth
Hospitals segment exceeded USD 65 billion in 2020 led by increasing number of hospital admissions due to various chronic and infectious diseases. Various countries in the world are focusing on expanding hospital capacity owing to COVID-19 pandemic. The pandemic has illustrated the critical importance to universal access to high quality treatment at the hospital. Thus, heavy investment in hospital capacity expansion will surge the segment expansion.
Growing number of patient pool and rising research and development activities will spur the market value
Europe monoclonal antibodies market captured over 13.3% of revenue share in 2020 on account of the presence of large patient pool and presence of major leaders. According to the World Health Organization, Europe accounts for one-fourth of the global cancer cases with 3.7 million new cases per year. Additionally, availability of advanced healthcare facilities, continuous technological advancements and accessibility to high-income countries are impelling the industry expansion in Europe.
Collaborative agreements and partnerships will fortify companies’ business performance
Some of the notable participants operating in the market are AbbVie Inc., F. Hoffmann-La Roche, Bristol Myers Squibb, Amgen and Novartis AG among others. These players are actively involved in licensing & partnership and are heavily investing in research & development activities.