Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Antibodies Market, By Drug Type, by Disease Indication By End User, And by Region - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global antibodies market is projected to reach $524,782.9 million by 2030, exhibiting robust growth from $224,083.5 million in 2023, at an impressive CAGR of 12.9%.
Antibodies play a pivotal role in therapeutic applications for treating various diseases, including cancer, autoimmune disorders, hematological conditions, infectious diseases, and more.
The increasing prevalence of cancer is anticipated to create significant growth opportunities for manufacturers in this market. Antibody-based products fall under the category of biological therapeutics, requiring approval from regulatory bodies like the U.S. Food & Drug Administration (FDA) before market release.
However, distinct from traditional drugs, biologics, including antibodies, necessitate Biologics License Applications (BLA) to be submitted to the Center for Biologics Evaluation and Research (CBER) for approval. Furthermore, government authorities are actively implementing measures to regulate and reduce drug prices.
For example, the U.S. government has sought to lower patients' out-of-pocket expenses in Medicare by scrutinizing agreements between drug manufacturers and distribution channel partners, such as pharmacy benefit managers, which contribute to rising drug list prices.
Market Dynamics
The global antibodies market is characterized by increasing adoption of inorganic growth strategies among key players, including collaborations and partnerships, to expand their product portfolios. This trend is expected to drive market growth in the forecast period.
For instance, in January 2020, MorphoSys AG, a biopharmaceutical company, collaborated with Incyte Corporation, a multinational pharmaceutical company, for the development and commercialization of MorphoSys' tafasitamab, a humanized Fc-engineered monoclonal antibody targeting CD19.
Market Segmentation
The global antibodies market is segmented as follows:
By Drug Type:
- Monoclonal Antibodies: Monoclonal antibody-based drugs.
- Polyclonal Antibodies: Polyclonal antibody-based drugs.
- Antibody-Drug Complexes (ADCs): Antibody-drug complex-based therapies.
By Disease Indication:
- CNS Disorders
- Cardiovascular Diseases
- Cancer
- Autoimmune Disorders
- COVID-19
- Others
By End User:
- Hospitals
- Long-term Care Facilities
- Research Institutes
By Region:
- North America: Including the United States and Canada.
- Latin America: Encompassing regions such as Brazil, Mexico, Argentina, and others in Latin America.
- Europe: Covering countries like Germany, the United Kingdom, France, Italy, Spain, Russia, and the rest of Europe.
- Asia Pacific: Including China, India, Japan, Australia, South Korea, ASEAN countries, and the rest of the Asia Pacific.
- Middle East: Encompassing the GCC countries, Israel, and the rest of the Middle East.
- Africa: Covering regions such as South Africa, Central Africa, and North Africa.
Key Players
Key companies in the global antibodies market include Novartis International AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi S.A., Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd. These players are actively involved in product innovation, financial performance, and strategic initiatives.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $224083.5 Million |
| Forecasted Market Value (USD) by 2030 | $524782.9 Million |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/wkns4e
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