Monoclonal Antibodies Market size worth US$51.913 billion by 2027
Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Monoclonal Antibodies Market” – which is forecasted from 2020 to 2027”.
The prime factors propelling the growth of the monoclonal antibodies market are the growing prevalence of chronic diseases, awareness about monoclonal antibodies, the rise in the number of R&D activities, technological advancements in products, application advancement, the rising cost of healthcare, and the adoption of helpful policies by national regulatory bodies.
As per the report, Monoclonal Antibodies Market is expected to grow at a CAGR of 7.12% to reach US$51.913 billion by 2027.
A monoclonal antibody is a chemical that is designed to boost the body’s natural immune system response to an invader such as cancer or infection. It is created in a laboratory and hence falls under the category of man-made medications. Monoclonal antibodies are developed to selectively target one crucial component of the infectious process, giving them an edge over other methods of infection treatment. It is produced when a white blood cell is exposed to a certain viral protein. It is then cloned to mass-produce antibodies against that virus. Monoclonal antibodies are being created to treat a variety of viral illnesses, including Ebola and rabies. Because of the increasing demand, market participants are concentrating their efforts on the research and discovery of monoclonal antibody therapies.
The monoclonal antibody market has been categorized based on indication, source, application, end-user, and geography.
By indication, the market has been classified based on inflammatory disease, cancer, microbial disease, and others. There has been a significant increase in the market share of cancer treatment because monoclonal antibodies are extremely beneficial in cancer treatment. Also, there is an increasing demand for low-cost cancer medicines.
By source, the market has been divided between humanized, human, chimeric, and murine. The incorporation of modern technology has facilitated speedier discovery and product development, as well as an increase in the number of product approvals and medicine launches of completely human monoclonal antibodies, which has positively affected human segment growth throughout the forecast period.
Based on application, the classification has been done into diagnostic, therapeutic, and others. The therapeutic segment’s dominance in the global market is due to rising healthcare expenses and increased public awareness of monoclonal antibodies’ usefulness in treating chronic diseases.
The market has been segmented based on end-users, including hospitals and clinics, and research laboratories. Due to the growing number of patients and highly trained individuals that provide specialized therapies for ailments such as cancer and autoimmune diseases; patient preferences have been influenced by the availability of modern medication therapy. Therefore, the market share of the hospitals and clinics segment is significant.
Geographically, North America is expected to hold a sizable share of the monoclonal antibodies market. Due to factors including well-developed healthcare infrastructure, growth in the number of R&D activities, and a high frequency of chronic disorders, North America is anticipated to account for a sizeable percentage of the market. The region’s heavy alcohol use and junk/fast food culture are contributing to obesity and putting the populace at risk of cancer infection leading to an increase in the use of monoclonal antibodies. This market share can also be attributed to several other variables, including the widespread use of monoclonal antibodies, the rising cost of healthcare, and the adoption of helpful policies by national regulatory bodies.
As a part of the report, the major players operating in the Monoclonal Antibodies Market, that have been covered are Eli Lilly and Company, AbbVie, Inc., Novartis AG, Bristol Myers Squibb, F.Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Amgen Inc., Merck & Co. Inc., AstraZeneca PLC.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/monoclonal-antibodies-market
This analytics report segments the monoclonal antibodies market on the following basis:
- By Indication
- Inflammatory Disease
- Microbial Disease
- By Source
- By Application
- By End-User
- Hospitals & Clinics
- Research Laboratories
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America