July 19, 2024
Monoclonal Antibody Therapeutics Market

Monoclonal Antibody Therapeutics Segment is Fastest Fueling the Growth of Monoclonal Antibody Therapeutics Market

The global Monoclonal Antibody Therapeutics Market Size is estimated to be valued at US$ 72.59 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Monoclonal antibodies are monoclonal proteins that are produced by a single clone of cells or cell line and are therefore uniform. They have various applications for diagnosis and treatment of cancer, infectious and chronic inflammatory diseases by targeting specific epitopes. The advantages include high specificity and ability to precisely target epitopes that biologics cannot.

Market key trends:

One of the key trends driving the monoclonal antibody therapeutics market Size is the increasing demand for biosimilars and bio-better versions of monoclonal antibodies. Biosimilars and bio-better versions help reduce the cost of expensive treatments by providing significant cost savings to the healthcare sector. The development and sales of lower-cost biosimilars help increase patient access to expensive biologic drugs thus fueling market growth. Another major trend is the increasing focus of players on developing antibody drug conjugates (ADCs) for cancer treatment. ADCs allow targeted delivery of highly potent cytotoxic (cell-killing) agents directly to tumor cells while sparing normal cells. ADCs being highly specific and efficacious contribute to growth of monoclonal antibody therapeutics market.

Segment Analysis:

The global monoclonal antibody therapeutics market is segmented based on source, therapeutic area, end user, and region. By source, the market is further categorized into chimeric, human, humanized, and others. The humanized monoclonal antibody segment currently dominates the market due to its low immunogenicity and higher affinity for antigens.

Key Takeaways

The global monoclonal antibody therapeutics market is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing prevalence of chronic diseases and rising adoption of monoclonal antibody therapy.

Regional analysis:

North America currently dominates the monoclonal antibody therapeutics market owing to increasing use of monoclonal antibodies for treatment of various chronic diseases, including cancer, asthma, rheumatoid arthritis, etc. in the region. Asia Pacific is expected to be the fastest growing regional market over the forecast period due to rising healthcare spending and increasing healthcare awareness.

Key players

Key players operating in the monoclonal antibody therapeutics market are Pfizer Inc., Novartis AG, Bayer AG, Sanofi, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Merck KGaA, GSK plc., AbbVie Inc., Bristol-Myers Squibb Company, Regeneron Pharmaceuticals Inc., AstraZeneca, AbCellera Biologics Inc., Molecular Depot LLC, DAIICHI SANKYO COMPANY, LIMITED., Abbott, Biogen, Thermo Fisher Scientific, Inc., Cell Signaling Technology, Inc, Intas Pharmaceuticals Ltd., Avantor Inc., UCB S.A., Merus N.V., GENEXTGENOMICS.COM, Biogenuix.

Source: Coherent Market Insights, Public sources, Desk research
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