Monoclonal Antibodies (MAbS) Global Market Report 2021: COVID 19 Impact and Recovery to 2030

New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Monoclonal Antibodies (MAbS) Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067902/?utm_source=GNW
87 billion in 2020 to $114.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $179.56 billion in 2025 at a CAGR of 11.9%.

The monoclonal antibodies (MABS) market consists of sales of monoclonal antibodies and related services.Monoclonal antibodies are used to enhance and suppress the immune response in various medical conditions and to treat various diseases such as cancer, cardiovascular and cerebrovascular diseases.

This industry includes establishments that produce anti-cancer monoclonal antibodies to prevent metastasis by reducing cell proliferation, immunological monoclonal anti-bodies, neuropharmacological monoclonal anti-bodies, anti-infective monoclonal antibodies (MAbs), and other MAbs for human beings and animals.

The monoclonal antibodies market has been witnessing multiple strategic initiatives in recent years.Top companies in the market are strategically acquiring start-ups and mid-sized companies to broaden products and services.

Strategic collaborations or acquisitions and partnership agreements help vendors expand their existing product portfolio and geographical reach.For instance, In February 2019, AbCellera and Novartis enter into a multi-target partnership to create an antibody-drug discovery platform and technology for treating clinically-relevant and neurodegenerative diseases.

Furthermore, AbCellera collaborated with GlaxoSmithKline (GSK), a pharmaceutical company, for the discovery of monoclonal antibodies against an undisclosed membrane protein target. Merck completed the acquisition of Sigma-Aldrich Corp., a leading life science company. Post this acquisition, Merck has more than 50,000 employees, 72 manufacturing sites, and a presence in 67 countries worldwide. Companies in the industry are increasingly realigning their portfolios and pursue profitable inorganic growth opportunities. Additionally, M&A interest is also being fueled by stronger corporate balance sheets, liquid debt markets, and continued favorable interest rates globally.

The Food and Drug Administration (FDA) is a federal agency of the United States Department of Health and Human Services, in the USA regulating the monoclonal antibodies and pharmaceutical drugs market.Increasing product launches and regulatory support for the treatment of rare diseases by USFDA is expected to support the monoclonal antibody therapeutics market growth.

For instance, the U.S. Food and Drug Administration (FDA) granted accelerated approval to avelumab (BAVENCIO, EMD Serono, Inc.), a human monoclonal antibody, for the treatment of a rare disease, metastatic Merkel cell carcinoma (MCC). Similarly, the U.S FDA granted accelerated approval to immunotherapy product- TECENTRIQ (atezolizumab), a humanized, engineered monoclonal antibody, for the treatment of people with locally-advanced or metastatic urothelial carcinoma (mUC).

The Increasing prevalence of cost-efficient biosimilar monoclonal antibodies are driving the monoclonal antibodies market growth.The biosimilar aim is to curb the increasing healthcare cost and handle economic pressure from the patient pod and governments to reduce the cost of medication and increase access to treatment.

Biosimilar is the pharmaceuticals that are developed to have similar properties to a biologic drug that has already been approved.A biosimilar monoclonal antibody costs 20%-25% lesser than the originator biologic drug.

The number of clinical trials for a biosimilar is comparatively lesser than that of the original biologic drug and this proves to be the reason for the low cost of a biosimilar drug. In India, a new biosimilar policy called the ‘Guidelines on Similar Biologics’ prepared by the Central Drugs Standard Control Organization (CSDCO) is expected to give a major boost to the Indian biosimilar drugs industry.

Alternative treatment methods and natural remedies are increasingly becoming popular globally and this is expected to have a negative impact on the revenues of the monoclonal antibody drugs market.Treatments in the fields of homeopathy, Ayurveda, yoga, acupuncture, sujok therapy are gaining popularity and slowly replacing some traditional hospital practices.

For instance, the revenue of US retail sales of homeopathic and herbal remedies was around $7.5 billion. These less expensive alternatives increase competitiveness for the biologics market putting downward pressure and limiting the demand for monoclonal antibody drugs.
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