New York, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cancer Monoclonal Antibodies Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151683/?utm_source=GNW
, and Spectrum Pharmaceuticals.
The global cancer monoclonal antibodies market is expected to grow from $45.51 billion in 2020 to $49.77 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while 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 $69.96 billion in 2025 at a CAGR of 9%.
The cancer monoclonal antibodies market consists of sales of monoclonal antibodies used for the treatment of cancer and related services by entities (organizations, sole traders and partnerships) that produce monoclonal antibodies for cancer treatment.Monoclonal antibodies are highly specific molecules for cancer cells as they bind to the proteins on their surface and it activates an immune response.
The market consists of revenue generated by cancer monoclonal antibodies companies manufacturing cancer monoclonal antibodies drugs.
The cancer monoclonal antibodies market covered in this report is segmented by monoclonal antibody therapies into bevacizumab (avastin), rituximab (rituxan), trastuzumab (herceptin), cetuximab (erbitux), panitumumab (vectibix), others and by application into breast cancer, blood cancer, liver cancer, brain cancer, colorectal cancer, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high costs involved in the development of monoclonal antibodies with advanced techniques act as a major restrain for the market due to the complex production process, expensive biological and chemical materials, and clinical trials, as well as required safety, efficacy, and quality tests.Advanced equipment is required for the large-scale production of monoclonal antibodies that encompass multiple disulfide bonds and post-translational modifications, and this equipment is expensive.
Clinical efficacy is usually achieved by injecting large amounts of monoclonal antibodies into the system, which means that large quantities are required to be produced for each treatment, thus increasing the cost.According to The American Journal of Managed Care, the annual price of monoclonal antibody therapies used in oncology and hematology is about $100,000 higher than those used in other disease states.
Thus, the high development costs in using these advanced techniques will restrain market growth.
In March 2020, Gilead Sciences, a US-based biopharmaceutical company, announced its decision to acquire Forty Seven for $4.9 billion. This acquisition is expected to strengthen Gilead’s immuno-oncology R&D portfolio with the addition of Forty Seven’s investigational lead product candidate, magrolimab. Magrolimab is a monoclonal antibody in clinical development for the treatment of several cancers. Forty Seven Inc. is a clinical-stage immuno-oncology company that develops therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on technology licensed from Stanford University.
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the cancer monoclonal antibodies market. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the cancer monoclonal antibodies market.
Companies in the cancer monoclonal antibodies market are increasing their product innovation through strategic collaborations.To sustain in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies.
While companies have long collaborated with each other as well as academic and research institutions in this market by way of partnerships and in- or out-licensing deals, this trend has been increasing over recent years.For instance, in September 2020, AbbVie and I-Mab entered into a strategic partnership for the development and commercialization of lemzoparlimab (also known as TJC4), which is a monoclonal antibody drug used to treat multiple cancers.
In September 2019, IRBM announced the signing of a service and development agreement with The University of Texas MD Anderson Cancer Center. The agreement will focus on the development of therapeutic monoclonal antibodies for cancer.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151683/?utm_source=GNW
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