“The Global Monoclonal Antibody Therapeutics Market is expected to grow at a CAGR during the forecasting period (2021-2028)”.
Monoclonal Antibody therapy is a form of immunotherapy that uses monoclonal antibodies (mAb) to bind mono specifically to specific cells or proteins. Therapeutic monoclonal antibodies harness the highly evolved specificity of adaptive immunity to fight disease. Monoclonal antibodies are being used to treat severe and chronic conditions.
The rising incidence of cancer is expected to increase demand for infusion therapies, thereby contributing to significant growth of the monoclonal antibodies market.
Rising incidence of cancer and other chronic diseases drive the market growth
The global market for the Monoclonal Antibody Therapeutics Market is primarily driven by the rising incidence of cancer and other chronic diseases coupled with the rise in R&D activities in genomics. According to the World Health Organization, The global cancer burden has risen to 18.1 million new cases and 9.6 million deaths in 2018. Additionally, the increasing drug approvals and launches of novel monoclonal antibodies for various diseases treatments such as cancer, robust research, and development of monoclonal antibodies for multiple diseases and technologies such as the advent of mammalian cell culture, process, and formulation technology is expected to be significant market opportunities. As of 2017, 47 monoclonal antibody products have been approved in the US and Europe to treat a variety of diseases. Continuing at the current approval rate of nearly four new products per year, around 70 monoclonal antibody products will be on the market by 2020, with combined global sales of almost USD 125 billion.
Global Monoclonal Antibody Therapeutics Market – By Product Type
Global Monoclonal Antibody Therapeutics Market – By Application
Global Monoclonal Antibody Therapeutics Market -By Production Source
Global Monoclonal Antibody Therapeutics Market – By End User
Global Monoclonal Antibody Therapeutics Market – By Region
Middle East & Africa
The monoclonal antibody therapeutics market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi S.A., CASI Pharmaceuticals, Eli Lilly and Co., Merck & Co., Inc., Changchun Zhongyingfeng Science And Technology Co., Ltd, Hangzhou Immuno Biotech Co. Ltd, Nantong Egens Biotechnology Co. Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the monoclonal antibody therapeutics market globally.
Sai Kiran Sales Manager at DataM Intelligence Email: [email protected] Tel: +1 877 441 4866 Website: www.datamintelligence.com