The antibodies market is expected to reach market valuation of US$ 186.865 Billion in 2021. The growth can be attributed to high versatility of antibodies in treating wide array of ailments and high demand for antibody cocktails to treat COVID-19.
Antibodies market is very competitive with F. Hoffmann-La Roche Ltd., AbbVie Inc., Johnson & Johnson Services Inc., Amgen Inc., and Bristol-Myers Squibb Company holding around 75% of global market shares as of 2021.
As per the National Institute of Health, autoimmune diseases are more prevalent in women as compared to men and are also the leading cause of death in women under the age 65. Rising incidence of autoimmune diseases like diabetes and scleroderma in women will boost the demand for antibodies in forthcoming years.
The COVID-19 pandemic accelerated the demand for antibody therapeutics as it has been found effective in treating COVID-19 patients that are non hospitalized but are highly susceptible to contracting various other ailments. In some cases COVID-19 triggered the autoimmune diseases in the patient further increasing the demand.
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Surge in number of Parkinson’s disease and Alzheimer patients and rising necessity to create affordable antibody therapeutics for population in low income countries will accelerate the market growth.
Increased number of drugs at various phases of clinical trials and rising drug approval rates from concerning authorities will drive the market for antibodies.
However, high cost of biologics is a growing concern as it increases healthcare cost. Rising economic load of cancer and other ailments is accelerating the healthcare spending.
With incorporation of modern production techniques for manufacturing therapeutic antibodies will promote the market penetration in cost sensitive regions like Asian market.
Key Takeaways from FMI’s Antibodies Market Study
- The U.S. is expected to lead the antibodies market during the assessment period due to presence of leading antibody drugs manufacturers, increased consumer spending on healthcare and rising incidences of autoimmune and other chronic ailments in the country.
- Rising prevalence of cancer and establishment of modern pharmaceutical and medical research centers in Saudi Arabia will drive the antibodies market growth in the country.
- China is forecast to exhibit tremendous growth owing to increased government spending on healthcare, heightened production of antibodies therapeutics and growing geriatric population in the country.
- Rapid technological advancements in healthcare sector, increasing government funding to make the treatment affordable, and increasing consumer spending on healthcare will create opportunities for market growth in India.
- Rising prevalence of non-Hodgkin lymphoma and other type of cancer along with increasing demand for non invasive treatment options will fuel the demand for cancer antibodies
- Monoclonal antibodies are forecast to exhibit high demand throughout the forecast period owing to rising drug approval rates and increasing cases of rheumatoid arthritis, psoriasis, and asthma in geriatric population across the globe.
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Antibodies market is consolidated as top antibodies producers hold 75% of global market share. New product development is the key area of focus among market players in order to strengthen their market position.
They are also involved in performing extensive research and development for product portfolio expansion. They are also working towards developing cheaper antibody therapeutics to penetrate the new markets and capture maximum market share especially in emerging economies.
Some market players are emphasizing on strategic merger and acquisition and partnership with other market players for rapid roll out of drugs and portfolio expansion. They are also emphasizing towards faster product approvals across various government agencies.
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