USD 133.8 Billion
Report ID:
SQMIG35A2527 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Monoclonal Antibody Therapy Market size was valued at USD 143.56 Billion in 2022 and is poised to grow from USD 154.05 Billion in 2023 to USD 270.68 Billion by 2031, at a CAGR of 7.3% during the forecast period (2023-2030).
One of the primary drivers of the global monoclonal antibody therapy market is the increasing prevalence of chronic diseases, such as cancer, autoimmune disorders, and cardiovascular diseases. Monoclonal antibody therapies have shown promising results in the treatment of these conditions, leading to their growing adoption. Additionally, the aging population and the rise in lifestyle-related diseases have further contributed to the market growth. Technological advancements have enabled the production of highly specific and effective antibodies, increasing their therapeutic efficacy. Additionally, the growing focus on personalised medicine and targeted therapies has further fueled the demand for monoclonal antibody therapies.
US Monoclonal Antibody Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 133.8 Billion
Largest Segment
Humanized antibodies
Fastest Growth
Humanized antibodies
Growth Rate
7.3% CAGR
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The global monoclonal antibody therapy market is segmented based on type, application, and region. Based on type, the market can be segmented into Murine Antibodies, Chimeric Antibodies, Humanised Antibodies, and Fully Human Antibodies. Based on application, the market is segmented into Oncology, Autoimmune Diseases, Infectious Diseases, Inflammatory Conditions and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Monoclonal Antibody Therapy Market Analysis by Type
In the global monoclonal antibody therapy market, the most dominant type among Murine Antibodies, Chimeric Antibodies, Humanised Antibodies, and Fully Human Antibodies is Humanised Antibodies. This dominant segment has gained significant prominence in the market due to their reduced immunogenicity and improved therapeutic efficacy compared to Murine Antibodies.
On the other hand, the fastest-growing type in the global Monoclonal Antibody Therapy market is Fully Human Antibodies. Fully human antibodies are derived from human sources and exhibit high specificity and affinity, making them highly effective in targeting specific antigens. These antibodies have shown great potential in treating various diseases and have gained traction in the pharmaceutical industry.
Monoclonal Antibody Therapy Market Analysis by Application
In the global monoclonal antibody therapy market, the most dominant application is Oncology. Monoclonal antibody therapies have revolutionised cancer treatment by targeting specific cancer cells or molecules involved in cancer growth. The effectiveness of these therapies, coupled with the increasing prevalence of cancer worldwide, has made Oncology the dominant application in the market.
The fastest-growing application in the global monoclonal antibody therapy market is autoimmune diseases. Monoclonal antibody therapies have shown significant success in treating autoimmune diseases by modulating the immune system and targeting specific components responsible for the disease. The rising incidence of autoimmune diseases and the need for more effective treatment options have fueled the growth of this application in the market.
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In the global monoclonal antibody therapy market, the most dominant region is North America. North America has a strong presence in the market due to factors such as well-established healthcare infrastructure, advanced research and development facilities, and a high adoption rate of monoclonal antibody therapies. The region is home to several prominent pharmaceutical companies and biotechnology firms that are actively involved in the development and commercialization of monoclonal antibody therapies. Additionally, favourable reimbursement policies and government support for innovative therapies contribute to the dominance of North America in the market.
Regarding the fastest-growing region, Asia Pacific is witnessing significant growth in the global Monoclonal Antibody Therapy market. The region is experiencing an increasing prevalence of chronic diseases, a rising geriatric population, and improving healthcare infrastructure. These factors, along with the growing awareness and affordability of advanced therapies, have led to a surge in the demand for monoclonal antibody therapies in the Asia Pacific region. Furthermore, the presence of a large patient pool, expanding pharmaceutical industry, and increasing investments in research and development activities contribute to the rapid growth of the market in Asia Pacific.
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Monoclonal Antibody Therapy Market Drivers
Advancements in Biotechnology and Genetic Engineering
Monoclonal Antibody Therapy Market Restraints
Potential Side Effects and Safety Concerns
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The global monoclonal antibody therapy market is highly competitive and dynamic, characterised by the presence of numerous pharmaceutical and biotechnology companies. Monoclonal antibody therapy has gained significant traction in the healthcare industry due to its targeted approach and effectiveness in treating various diseases, including cancer, autoimmune disorders, and infectious diseases. The competitive landscape of this market is shaped by factors such as research and development activities, product portfolio, strategic collaborations, and regulatory approvals.
Monoclonal Antibody Therapy Market Top Player’s Company Profiles
Monoclonal Antibody Therapy Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global monoclonal antibody therapy market analysis, the rising prevalence of chronic diseases and the increasing demand for targeted and personalised therapies are prominent drivers. Monoclonal antibody therapy has emerged as a promising treatment option, providing highly specific and effective therapies for various medical conditions. One of the major drivers fueling the growth of the global monoclonal antibody therapy market is the increasing incidence of chronic diseases such as cancer, autoimmune disorders, and infectious diseases. Monoclonal antibody therapy offers targeted treatment by specifically binding to disease-specific antigens, thereby reducing off-target effects and enhancing therapeutic outcomes. The rising geriatric population and the associated increase in age-related diseases further contribute to the market growth. Pharmaceutical companies and research institutes are investing extensively in research and development activities to discover and develop innovative monoclonal antibodies with enhanced efficacy and fewer side effects. This trend is expected to drive market growth in the coming years, as new therapeutic options become available. However, the market also faces challenges that need to be addressed. High treatment costs associated with monoclonal antibody therapies pose a significant barrier to their widespread adoption, particularly in developing regions. Additionally, stringent regulatory requirements and the lengthy and expensive drug approval process can hinder market growth.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 143.56 Billion |
Market size value in 2031 | USD 270.68 Billion |
Growth Rate | 7.3% |
Base year | 2023 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Monoclonal Antibody Therapy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Monoclonal Antibody Therapy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Monoclonal Antibody Therapy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Monoclonal Antibody Therapy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2527