Monoclonal Antibodies Market Growing at a CAGR of 11.8% from 2021 to 2028 says, The Insight Partners

Monoclonal Antibodies Market: Significant Rise in Prevalence of Cancer and Other Chronic Diseases Drives Market Growth

NEW YORK, UNITED STATES, February 2, 2022 /EINPresswire.com/ -- According to The Insight Partners latest study on “Monoclonal Antibodies Market Size and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Source, Production Method, Indication, Application, End-User,” the monoclonal antibodies market is projected to reach US$ 243.05 billion by 2028 from US$ 111.01 billion in 2021; it is expected to grow at a CAGR of 11.8% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

The increasing prevalence of cancer and other chronic diseases, and a tremendous rise in COVID-19 cases across various regions are the key factors fueling the market growth. According to World Cancer Research Fund and American Institute for Cancer, in 2020, ~18.1 million cancer cases were recorded, including 9.3 million cases in men and 8.8 million cases in women. The use of monoclonal antibodies in the treatment of various types of cancer is still in phases 2 and phase 3 trials.

Strategic Insights

Report Coverage Details
Market Size Value in - US$ 111.01 Billion in 2021
Market Size Value by - US$ 243.05 Billion by 2028
Growth rate - CAGR of 11.8% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 165
No. Tables - 135
No. of Charts & Figures - 70
Historical data available - Yes
Segments covered - Source, Production Method, Indication, Application, and End-User
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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North America is likely to continue its dominance in the monoclonal antibodies market during 2021–2028. The US holds the largest share of the market in this region and is expected to continue to be a dominant shareholder in the market during the forecast period. According to the statistics released by Globocan 2020, ~1,806,590 new cases of cancer were diagnosed in the US and ~606,520 people died due to this disease. As per a report by the US Department of Commerce, its National Institute of Standards and Technology (NIST) announced the funding of US$ 153 million to the National Institute for Innovation in Manufacturing Biopharmaceuticals. Additionally, the FDA has been extending support for the development of monoclonal antibodies during COVID-19 prevalence.

Significant Rise in Prevalence of Cancer and Other Chronic Diseases Drives Market Growth

As per the American Cancer Society report, ~16.9 million individuals with a history of cancer were residing in the US as of January 2019. By January 2030, the population of cancer survivors is estimated to rise to 22.1 million due to the growth and aging of the population alone. Therefore, with the growing prevalence of cancer and other chronic diseases, the demand for biologics, such as monoclonal antibodies (mABs), has also surged. Being principal components of many therapeutic regimens and cost-effectiveness treatments, biologics play a key role in cancer treatment.

The COVID-19 has significantly triggered the adoption of monoclonal antibodies in the last 2 years. A report by the NCBI states that the Food and Drug Administration (FDA) announced the emergency use authorization (EUA) for three monoclonal antibodies for the treatment of COVID-19 patients intended for treatment with the allocation of nearly 1 million monoclonal antibodies drugs. Also, monoclonal antibodies remain the only approved outpatient therapies intended for COVID-19 patients. Various regulatory agencies have introduced policies favoring the use of monoclonal antibodies in COVID-19 cases. For example, as per a report by the Crown, in August 2020, the Medicines and Healthcare products Regulatory Agency (MHRA) granted an approval for the first monoclonal antibody treatment intended for the prevention of COVID-19 in the UK.

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Based on indication, the monoclonal antibodies market is segmented into cancer, autoimmune diseases, infectious diseases, inflammatory diseases, microbial diseases, and others. The cancer segment is likely to account for a large market share during 2021–2028.

By source, the monoclonal antibodies market is segmented into human, humanized, chimeric, and murine. The human segment held a considerable share of the market in 2021 and is likely to continue its dominance in the market during the forecast period. The preventive administration of "palivizumab" human mAB proves effective against severe respiratory diseases that pose a high risk in infants and immunocompromised adults; it is the only mAB product licensed against infectious diseases. More such developments are expected in the market in the coOrder a Copy of Retinal Imaging Devices Market Shares, Strategies and Forecasts 2021-2028 Research Report at: ming years, which are likely to drive the growth of the market for the human segment during 2021–2028.

Monoclonal Antibodies Market: Competitive Landscape and Key Developments

Novartis AG; Pfizer Inc.; GlasxoSmithKline plc.; Amgen Inc.; DAICHI SANKYO COMPANY LIMITED; F. HOFFMANN-LA ROCHE LTD.; AstraZeneca; Elli Lilly and Company; Bayer AG; Bristol-Myers Squibb Company are among the leading companies operating in the monoclonal antibodies market.

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Sameer Joshi
The Insight Partners
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