Newark, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 187 billion in 2022 global monoclonal antibodies market will reach USD 463 billion in 2030. The prevalence of chronic diseases like cancer, heart disease, and others (mAbs) is a key reason propelling the monoclonal antibodies industry. It is anticipated that the market will expand as more individuals employ mAb therapies for targeted therapies and as patients and physicians gain knowledge about them. Developing various mAbs to combat the SARS-CoV-2 virus due to the COVID-19 pandemic has made it simpler to expand the market. Due to the significant benefits that mAb therapies have over more traditional medicines in terms of their specificity, efficacy, and simplicity of use, numerous new product releases and approvals exist in this field.
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Key Insight of the Global Monoclonal Antibodies Market
North America will dominate the market during the forecast period.
North America currently dominates the market for monoclonal antibodies because of its developed healthcare system, high patient awareness, and expanding potential in cancer research. The market is anticipated to expand due to formidable rivals like Merck & Co., Pfizer Inc., Amgen Inc., and others. The government's increased funding for cancer research is another factor anticipated to support market expansion.
In 2022, the in-vivo segment dominated the market with the largest market share of 55.1% and market revenue of 103.03 billion.
The product method segment is divided into in vivo and in vitro. In 2022, the in-vivo segment dominated the market with the largest market share of 55.1% and market revenue of 103.03 billion.
Over the forecast period, the human segment is expected to grow at the fastest CAGR of 16.7%.
The source segment is divided into chimeric, human, humanized, and murine. Over the forecast period, the human segment is expected to grow at the fastest CAGR of 16.7%.
In 2022, the hospitals segment dominated the market with the largest market share of 39% and market revenue of 71.06 billion.
The end-user segment is divided into hospitals, research institutes, and others. In 2022, the hospitals segment dominated the market with the largest market share of 39% and market revenue of 71.06 billion.
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Advancement in market
Astria Therapeutics, a biopharmaceutical company developing treatments for uncommon allergic and immunological diseases, has entered into an exclusive worldwide licencing agreement with Ichnos Sciences, a global clinical-stage biotechnology company developing multispecific antibodies for oncology. A significant step in the company's prioritisation of its pipeline of oncology treatment candidates, Ichnos has licenced its two assets for inflammatory and immunological illnesses under the terms of the agreement. The licenced therapy programme for all indications shall be developed and commercialised by Astria at full cost and responsibility. In return, Ichnos will get royalties and up to $320 million in upfront, development, regulatory, and sales milestone payments.
Market Dynamics
Driver: Increasing regulatory approvals.
Regulatory agencies are anticipated to approve more monoclonal antibodies, making it simpler for novel drugs to be developed for treatments. Over the course of the projection period, this is anticipated to support market expansion. For instance, the US Food and Drug Administration designated Satralizumab, a drug manufactured by Chugai Pharmaceutical Co., Ltd.. This company is now a part of Roche Holding AG as a breakthrough therapy in 2018. The Darzalex (daratumumab) monoclonal antibody from Johnson & Johnson was approved by the US Food and Drug Administration (FDA) in May 2018 for use in combination with Velcade (bortezomib), melphalan, and prednisone to treat patients with newly diagnosed multiple myeloma who are not eligible for autologous stem cell transplantation (ASCT).
Restraints: High prices.
The market's expansion is anticipated to be hampered by monoclonal antibodies' high price. Monoclonal antibodies are still only employed in industrialised nations and not in emerging or poor nations due to the high cost of production. The market's expansion is also constrained by firms losing their patents.
Opportunities: Growing research and investment.
Over the forecast period, the market is anticipated to see profitable growth possibilities due to the growing emphasis on research and development activities. Along with increased government funding for the growth of the monoclonal antibody market, market players have increased their spending on the development and clinical testing of novel pharmaceuticals, opening up opportunities for the market to grow over the forecast period.
Challenges: strict regulations.
Issues with strict drug licencing and testing regulations are a barrier to the market's expansion. Additionally, several nations forbid drug testing on humans before formal permission, hindering the industry's expansion. Monoclonal antibodies have made it possible to sell medications that heal incurable conditions.
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Some of the major players operating in the global monoclonal antibodies market are:
• Novartis AG
• Pfizer Inc
• GlaxoSmithKline plc
• Amgen Inc.
• Merck & Co., Inc.
• Daiichi Sankyo Company, Limited
• Abbott Laboratories
• AstraZeneca plc
• Eli Lilly And Company
• Johnson & Johnson Services, Inc.
Key Segments covered in the market:
By Production Method
• In Vivo
• In Vitro
By Source
• Chimeric
• Human
• Humanized
• Murine
By End Users
• Hospitals
• Research Institutes
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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