May 26, 2024
Monoclonal Antibody Therapeutics Market

Monoclonal Antibody Therapeutics Market is poised to reach high growth prospects by therapeutic applications

The monoclonal antibody therapeutics market provides highly advanced treatment options through strong emphasis on research and development. Monoclonal antibodies have emerged as an important class of biologic therapeutics in recent years due to their high specificity and less severe side effects. These innovative treatment options have revolutionized cancer care and management of various chronic inflammatory and autoimmune disorders.

The Global Monoclonal Antibody Therapeutics Market is estimated to be valued at US$ 83.63 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period from 2024 to 2030.

Key takeaways
Key players operating in the monoclonal antibody therapeutics are IOI Loders Croklaan, Ghana Nuts Company Ltd., and The Savannah Fruits Company. Key players related content (Write very shorts about key players mention the given key players only (format for key players analysis: Key players operating in the (incorporate given market name) are incorporate given list of key players. The monoclonal antibody therapeutics market has witnessed significant growth in recent times driven by growing demand for targeted cancer therapies and availability of biosimilars. Monoclonal antibodies are increasingly becoming the preferred treatment choice over conventional drug molecules due to their high selectivity and fewer side effects.

The growing prevalence of chronic diseases along with rising healthcare expenditure is a key factor fueling the demand for monoclonal antibody therapeutics at the global level. According to WHO, chronic diseases accounted for around 60% of the global deaths and 43% of the global disease burden in 2019. In addition, increasing awareness regarding the benefits of mAb drugs is encouraging more patients to opt for this therapy.

Global expansion of major players through acquisitions and collaborations has enhanced the accessibility of mAb therapeutics globally. For instance, in March 2021, Eli Lilly acquired Prevail Therapeutics to expand its pipeline of gene therapy programs for patients with neurodegenerative diseases.

Market key trends
One of the major trends witnessed in the monoclonal antibody therapeutics market size is the pipeline strength and robust research activity. Several pharmaceutical companies are investing aggressively in R&D to develop next-gen and novel mAb drugs with improved efficacy. Besides oncology, monoclonal antibodies targeting various rare and orphan indications are under development phases. Growing focus on personalized medicine has also accelerated the development of combination therapies and antibody drug conjugates using monoclonal antibodies. This trend is likely to continue and more product approvals can be expected in the foreseeing years.

Porter’s Analysis

Threat of new entrants: High capital requirements required to build manufacturing facilities poses challenges for new players.

Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over smaller players.

Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to availability of substitute options.

Threat of new substitutes: Growing acceptance of alternative therapies poses potential threat.

Competitive rivalry: Intense competition among major players to gain market share.

Geographical Regions

North America accounted for the largest share of the global monoclonal antibody therapeutics market in 2024, owing to high adoption of monoclonal antibodies and presence of major market players in the region. Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period, due to rising healthcare expenditure, increasing disposable income, and growing awareness regarding monoclonal antibody therapeutics.

In terms of value, United States and Canada collectively dominated the North America monoclonal antibody therapeutics market. Within Europe, France, Germany, Italy, Spain, United Kingdom, and Russia held significant shares of the monoclonal antibody therapeutics industry. Additionally, Japan, China, and India dominated the monoclonal antibody therapeutics market across Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraaged AI tools to mine information and compile it