WASHINGTON, June 28, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Monoclonal Antibodies Market finds that increasing incidence of cancer & other chronic diseases, rising Research and Development (R&D) activities in genomics, and the emergence of technologically advanced genetic platforms, such as next-generation sequencing are influencing the large growth of the Monoclonal Antibodies Market in recent years.
The Global Monoclonal Antibodies Market revenue is expected to reach a value USD 155.2 Billion in the year 2028.
The Global Market revenue stood at a value USD 105.2 Billion in the year 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period; states Vantage Market Research, in a report, titled “Monoclonal Antibodies Market Size, Share & Trends Analysis Report by Source (Murine, Chimeric, Humanized, Human), by Indication (Cancer, Autoimmune Diseases, Inflammatory Diseases, Infectious Diseases), by End User (Hospitals, Research Institutes, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Drivers:
Increasing Incidences of Chronic Diseases Such as Cancer & Diabetes
The increase in demand to establish quality services in healthcare is accelerating the needs of the Monoclonal Antibodies Market. In addition, the emergence of new applications in Monoclonal Antibodies Market considerably dominates the growth of the Monoclonal Antibodies Market. The increase in investments in healthcare infrastructure improvement is anticipated to boost the growth of the Global Monoclonal Antibodies Market during the projected period. The enlargement of new molecules is anticipated to play a leading role in the future of the market owing to the cost-efficiency of the technology. The appearance of advanced technology & the launch of innovative products in the biotechnology field, and the growth of the economy in increasing & developing countries are sweeping the demand of the Monoclonal Antibodies Market. Furthermore, increasing knowledge of genomics & trends towards next-generation sequencing and ease in the accessibility of numerous resources used in the research Centers encourage the growth of the Monoclonal Antibodies Market.
Growing Prevalence of Cost-Efficient Bio-similar Monoclonal Antibodies Market
The popularity of cost-effective bio-similar Monoclonal Antibodies Market is increasing rapidly which, in turn, bolsters the Monoclonal Antibodies Market growth. The focus of bio-similar antibodies is to control the increasing healthcare cost and handle economic pressure from the patient & governments to reduce the cost of medication & increase the approach to treatment. A bio-similar monoclonal antibody costs 20%-25% less than the original biologic drug. The number of clinical trials for a biosimilar is comparatively less than that of the original biologic drug and this demonstrates to be the reason for the low cost of a biosimilar drug. Treatments in the fields of homeopathy, Ayurveda, yoga, acupuncture, and sujok therapy are acquiring popularity and gradually replacing some traditional hospital practices. These lower-expensive substitutes increase competitiveness in the biologics market, putting downward pressure and limiting the demand for monoclonal antibody drugs.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Monoclonal Antibodies market is predicted to grow at a CAGR of roughly 6.7% during the forecast period.
- The Monoclonal Antibodies market was estimated to be worth roughly USD 105.2 Billion in 2021 and is expected to reach USD 155.2 Billion by 2028; based on primary research.
- On the basis of region, North America is projected to dominate the worldwide Monoclonal Antibodies market.
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Segmentation of the Global Monoclonal Antibodies Market:
- Source
- Murine
- Chimeric
- Humanized
- Human
- Indication
- Cancer
- Autoimmune Diseases
- Inflammatory Diseases
- Infectious Diseases
- Others
- End User
- Hospitals
- Research Institutes
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/monoclonal-antibodies-market-1673
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Monoclonal Antibodies Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on "Monoclonal Antibodies Market Size, Share & Trends Analysis Report by Source (Murine, Chimeric, Humanized, Human), by Indication (Cancer, Autoimmune Diseases, Inflammatory Diseases, Infectious Diseases), by End User (Hospitals, Research Institutes, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Regional Analysis:
North America Dominated the Global Monoclonal Antibodies Market
North America dominated the Monoclonal Antibodies Market in 2021 owing to the strong presence of major business players and the number of product approvals in this region. In addition, increasing the acceptance of products for effective disease treatment will increase the demand for Monoclonal Antibodies Market in the regional market. Furthermore, increased Research and Development (R&D) funding for cancer research has made it possible to discover new monoclonal antibody therapies. Moreover, increasing product approvals in the United States and Canada will drive regional growth of the Monoclonal Antibodies Market. A well-developed healthcare infrastructure provides better access to treatment for the population, thereby stimulating product demand.
List of Prominent Players in the Monoclonal Antibodies Market:
- Abbott Laboratories
- Amgen Inc.
- AstraZeneca PLC
- Bayer AG
- Eli Lilly
- GlaxoSmithKline PLC
- Johnson & Johnson
- Merck & Co. Inc.
- Novartis
- Pfizer
Recent Developments:
June 2021: Amgen entered an agreement with Kyowa Kirin Co. Ltd., to develop and commercialize KHK4083, a fully human monoclonal antibody for the treatment of atopic dermatitis. Such partnerships have helped the company in business expansion.
May 2021: Roche India announced the Emergency Use Authorization (EUA) for its antibody cocktail by the Central Drugs Standards Control Organization (CDSCO). This authorization has enabled the company to broaden product accessibility in the country.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Monoclonal Antibodies Market?
- How will the Monoclonal Antibodies Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Monoclonal Antibodies Market?
- What is the Monoclonal Antibodies market drivers and restrictions?
- What will be the CAGR and size of the Monoclonal Antibodies Market throughout the forecast period?
This market titled “Monoclonal Antibodies Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Source ° Murine ° Chimeric ° Humanized ° Human • Indication ° Cancer ° Autoimmune Diseases ° Inflammatory Diseases ° Infectious Diseases ° Others • End User ° Hospitals ° Research Institutes ° Others • Region ° North America ° Europe ° Asia Pacific ° Latin America ° Middle East & Africa |
| Region & Counties Covered | • North America ° U.S. ° Canada ° Mexico • Europe ° U.K ° France ° Germany ° Italy ° Spain ° Rest Of Europe • Asia Pacific ° China ° Japan ° India ° South Korea ° South East Asia ° Rest Of Asia Pacific • Latin America ° Brazil ° Argentina ° Rest Of Latin America • Middle East & Africa ° GCC Countries ° South Africa ° Rest Of Middle East & Africa |
| Companies Covered | • Abbott Laboratories • Amgen Inc. • AstraZeneca PLC • Bayer AG • Eli Lilly • GlaxoSmithKline PLC • Johnson & Johnson • Merck & Co. Inc. • Novartis • Pfizer |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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