The monoclonal antibodies market refers to the market for drugs and therapies that are created using monoclonal antibodies. These are laboratory-made molecules that mimic the immune system’s ability to fight off harmful invaders such as viruses. They have been used to treat various medical conditions, including cancer, autoimmune diseases, and infectious diseases. The market is driven by increasing demand for these therapies, technological advancements, and collaborations between pharmaceutical companies. Key players in the market include Roche, Merck, Pfizer, and Regeneron. The monoclonal antibodies market is expected to grow in the coming years due to the increasing demand for these therapies and ongoing research and development in this field.
The growth of the global monoclonal antibodies market is driven by rise in usage of monoclonal antibodies in the treatment of cancer and other chronic diseases across the globe. Furthermore, increase in innovations in monoclonal antibodies products, and rise in number of product approvals are the other factors that contribute toward the growth of the market
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Increase in prevalence of various cancer types, rise in demand for cost-efficient biosimilar monoclonal antibodies, and upsurge in likelihood of epidemic or pandemic outbreaks drive the growth of the global monoclonal antibodies market. On the other hand, poor demand in underdeveloped countries restrains the growth to some extent. However, several growth opportunities in emerging markets have proven to be beneficial for the market growth.
COVID-19 scenario-
Rise in necessity for treatments available on a global scale has encouraged rapid development of a large number of SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2) neutralizing monoclonal antibodies (mAbs).
Thus, COVID-19 infection uplifted growth and opportunities for the key players of the monoclonal antibodies market.
The global monoclonal antibodies market is analyzed across source, indication, end user, and region. Based on source, the human segment accounted for more than two-fifths of the total market revenue in 2020, and is expected to dominate by the end of 2030. The same segment would also cite the fastest CAGR of 11.0% from 2021 to 2030.
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Based on indication, the cancer segment contributed to nearly three-fifths of the total market share in 2020, and is projected to rule the roost by 2030. The same segment would also showcase the fastest CAGR of 10.7% throughout the forecast period.
Based on region, North America held the major share in 2020, garnering more than two-fifths of the global market. The market across Asia-Pacific, on the other hand, would cite the fastest CAGR of 11.7% during the forecast period. Other regions profiled in the report include LAMEA and Europe.
The key market players analyzed in the global monoclonal antibodies market report include Abbott Laboratories, AstraZeneca plc., Amgen Inc., Eli Lilly, GlaxoSmithKline Plc., Bayer AG, Johnson & Johnson, Pfizer, Merck & Co. Inc., and Novartis. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
KEY FINDINGS OF THE STUDY
Based on source, the human segment held the largest market share in 2020, and is expected to remain dominant during the forecast period.
On the basis of indication, the cancer segment held the largest market share in 2020, and is expected to remain dominant during the forecast period.
On the basis of end user, the hospitals segment held the largest market share in 2020, and is expected to remain dominant during the forecast period.
Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 11.7% during the forecast period.
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