Pune, India, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The global monoclonal antibody therapy market size was USD 157.33 billion in 2020. The market is projected to grow from USD 178.50 billion in 2021 to USD 451.89 billion in 2028 at a CAGR of 14.1% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Monoclonal Antibody Therapy Market, 2021-2028.”
As per our researchers, escalating research and development subsidy for the development and upgrading of fresh monoclonal antibodies is projected to strengthen the market during the mentioned timeframe. The present giant companies in the market are constantly rooting for novel innovations and providing authorized drugs for the betterment of society. For instance, in December 2019, CARsgen Therapeutics was granted Investigational New Drug (IND) approval for AB011 in China, which is a civilized monoclonal antibody for treating gastrointestinal and pancreatic adenocarcinoma.
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Supply Chain Disorder Pooled with Lesser Product Demand Dipped Sales amid COVID-19
Owing to the unparalleled incidence of the coronavirus pandemic, the healthcare industry experienced a huge hindrance at the primary stage of the supply chain. The prominent players in the monoclonal antibodies therapeutics market observed a deterioration in the trade growth for their goods.
During the pandemic, the highest retailing medication in the market, Humira, perceived an affirmative growth rate of 4% in comparison to the previous year, 2019. Nevertheless, several medicines such as Roche’s Herceptin, Avastin along with J&J’s Remicade, witnessed a depressing weakening in the incomes on account of the lesser demand in comparison with the earlier year, 2019. This is expected to hamper the market for monoclonal antibody therapy in the upcoming years.
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Based on type, the market is segregated into human monoclonal antibody, humanized, monoclonal antibody, chimeric monoclonal antibody, and murine monoclonal antibody. The human monoclonal antibody segment was responsible for the leading position. This can be accredited to the augmented sales and demand for Humira.
On the basis of application, the market is classified into type cancer, autoimmune diseases, and others. Based on the distribution channel, the market is categorized into hospital pharmacy, retail pharmacy, and online pharmacy. In terms of geography, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Substantial Investment in Formation of New Monoclonal Antibodies to Navigate Growth
Monoclonal antibody therapy is rapidly developing as an effective and remarkable device for treating prolonged sicknesses, particularly cancer. The inclination towards this therapy is progressively intensifying, causing skyrocketing sales of several drugs such as Herceptin and Humira, among others. This has motivated chief pharmaceutical businesses to amplified research expenditure in the sector of monoclonal antibodies. For instance, AstraZeneca, which is a pharmaceutical marvel, is directing phase II medical experiments on Tezepelumab for the curing of atopic dermatitis. Likewise, pipeline prospective applicants are anticipated to fuel the market in the near future.
Keeping this aside, the affirmative indication from the controlling establishments for the entrance of biosimilars of prevailing mAb therapeutics is additionally promoting the market growth. This is therefore estimated to navigate the monoclonal antibody therapy market growth during the forecast period of 2021-2028.
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Substantial Investment in Formation of New Monoclonal Antibodies to Navigate Growth
Monoclonal antibody therapy is rapidly developing as an effective and remarkable device for treating prolonged sicknesses, particularly cancer. The inclination towards this therapy is progressively intensifying, causing skyrocketing sales of several drugs such as Herceptin and Humira, among others. This has motivated chief pharmaceutical businesses to amplified research expenditure in the sector of monoclonal antibodies. For instance, AstraZeneca, which is a pharmaceutical marvel, is directing phase II medical experiments on Tezepelumab for the curing of atopic dermatitis. Likewise, pipeline prospective applicants are anticipated to fuel the market in the near future.
Keeping this aside, the affirmative indication from the controlling establishments for the entrance of biosimilars of prevailing mAb therapeutics is additionally promoting the market growth. This is therefore estimated to navigate the monoclonal antibody therapy market growth during the forecast period of 2021-2028.
List of the Companies Operating in the Market:
- AbbVie Inc. (Illinois, United States)
- Merck & Co., Inc. (New Jersey, United States)
- F.Hoffmann-La Roche Ltd. (Basel, Switzerland)
- Bristol-Myers Squibb Company (New York, United States)
- Johnson & Johnson Services, Inc. (New Jersey, United States)
- Daiichi Sankyo Company, Limited (Tokyo, Japan)
- Novartis AG (Basel, Switzerland)
- Alexion Pharmaceuticals, Inc. (Massachusetts, United States)
- Amgen Inc. (California, United States)
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Global Monoclonal Antibody Therapy Market Segmentation:
By Type:
- Human mAb
- Humanized mAb
- Chimeric mAb
- Murine mAb
By Application:
- Cancer
- Autoimmune Diseases
By Distribution Channel:
- Hospital Pharmacy Retail Pharmacy
- Online Pharmacy
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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