Monoclonal Antibodies Market| Regional Growth Forecast 2021-2027
The rising occurrence of life-threatening diseases like cancer, has majorly contributed to the prolific demand for monoclonal antibodies market forecast. Estimates by WHO suggested that cancer caused over 10 million deaths in 2020.
As a result of this, industry players are highly involved in research & development activities for producing drugs based on monoclonal antibodies. As of May 2021, a 3rd phase study of anti-PD-L1 monoclonal antibody-Sugemalimab concluded that the antibody can be considered as a complete therapy for treating stage-3 non-small cell lung cancer. Owing to this, the adoption of monoclonal antibodies (mAbs) is touted to increase in the years to come.
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On that note, monoclonal antibodies market registered a revenue share of USD 150 billion in 2020 and is speculated to grow at a CAGR of 13.8% over the projected timespan.
Amongst all the types of monoclonal antibodies, the chimeric ones are easily produced using recombinant technology. Chimeric antibodies possess high specificity, owing to which they are utilized in precision medicine for targeting specific diseases. In fact, they are prominently used for treating blood cancers and autoimmune disorders. Given these benefits, chimeric antibodies market is projected to record phenomenal proceeds in the years to come.
Speaking of autoimmune disorders, monoclonal antibodies have found wide-scaled applications in treating lupus erythematosus, rheumatoid arthritis, and multiple sclerosis. In the case of rheumatoid arthritis, these antibodies target the cytokine proteins that cause the inflammation. In addition, a higher prevalence of arthritis is fostering the adoption of monoclonal antibodies. For instance, Arthritis Foundation observed that around 25% of adults in the U.S. are diagnosed with arthritis. Considering all these aspects, the autoimmune disorders application will exhibit growth of 13.3% during the analysis period.
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Increasing adoption of monoclonal antibodies across clinics
There has been a significant rise in the number of patients visiting clinics. Patients are prominently demanding therapeutic and preventive medicines. In addition, clinic visits are cost-effective for several patients. On top of that, many clinics hire experienced healthcare professionals. Owing to the wide-scaled expansion of clinic infrastructure and growing patient trust, clinics accounted for a revenue share of over 20% in 2020.
The ongoing COVID-19 pandemic has had a severe impact on the world. A variety of virus strains resulted in a significant rise of mortalities. This demanded drug therapies that could be highly effective against the virus. Therefore, scientists are using monoclonal antibodies for developing advanced treatments. In addition, some industry players are partnering with other players and non-profit organizations for developing monoclonal antibodies to combat COVID-19. For instance, Merck KGaA collaborated with Serum Institute of India Pvt. Ltd. and IAVI for developing mAbs against the SARS-CoV-2 virus. Such progressive developments will boost the expansion of the market over the coming years.
On the regional front, the Asia Pacific is forecasted to proliferate at a CAGR of 15% through 2027. Developing countries, like India, boast of well-equipped facilities for manufacturing pharmaceutical and biopharmaceutical drugs. This works well for increasing the adoption of monoclonal antibodies as India has a high rate of approving antibody-laced products. In addition, China has devised its drug approval and regulatory policies to stay on track with markets of western countries, thereby increasing the adoption of monoclonal antibodies.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Monoclonal antibodies industry 3600 synopsis
2.1.1 Business trends
2.1.2 Type trends
2.1.3 Application trends
2.1.4 End-use trends
2.1.5 Regional trends
Chapter 3 Monoclonal antibodies Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.1.1 Increasing prevalence of chronic and infectious diseases worldwide
3.3.1.2 Growing research and development activities
3.3.1.3 High rate of adoption and approval in the U and Europe
3.3.1.4 Booming biologics market
3.3.1.5 Rising applications of monoclonal antibodies
3.3.2 Industry pitfalls and challenges
3.3.2.1 High cost of some monoclonal antibody therapeutics
3.3.2.2 Stringent regulatory framework
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By application
3.4.3 By end-use
3.5 Regulatory landscape
3.6 Future trends in monoclonal antibody-based therapeutics
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.8.1 Company matrix analysis, 2020
3.8.2 Brand analysis
3.9 PESTEL analysis
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