July 20, 2021
According to the business intelligence report titled ‘Monoclonal Antibodies Market Size By Type (Fully Human, Humanized, Chimeric), By Application (Oncology, Autoimmune Diseases, Infectious Diseases), By End-use (Hospitals, Clinics), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report LLC, global monoclonal antibodies market is projected to witness significant expansion between 2021-2027.
Surging occurrences of chronic & infectious diseases and expansion of biologics industry are accelerating global monoclonal antibodies industry expansion. Besides, widening applications of monoclonal antibodies are enhancing the overall industry outlook.
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For the unaware, monoclonal antibodies are proteins manufactured in laboratories which have the capability to imitate the human immune’s system ability of identifying and fighting against harmful pathogens such as tumor cells, viruses, and bacteria.
Expert analysts claim that growing number of specialty centers, especially in developed nations, along with rising awareness about advanced therapies and use of modern technology to develop specific antibodies will aid market growth in the upcoming years.
Besides, increasing research & development activities will continue to facilitate the industry augmentation, however, stringent regulatory framework and high therapy costs will negatively impact the business landscape.
Based on type, global monoclonal antibodies market sphere is divided into fully human, chimeric, humanized, and others. Among these, the others segment was appraised at USD 9 billion in 2020 and is likely to gain considerable traction in the upcoming years.
Speaking of application scope, the industry is bifurcated into oncology, infectious diseases, autoimmune diseases, and others. Among these, the other applications segment is projected to expand at 14.2% CAGR throughout 2021-2027.
Moving on to end user spectrum, the business space ids fragmented into clinics, hospitals, and others. Among these, the others segment attained USD 55 billion valuation in 2020 and is estimated to expand rapidly owing to growing number of specialty centers in developed countered to address the medical needs of rising number of people suffering from various diseases.
Regionally speaking, Middle East & Africa monoclonal antibodies industry is anticipated to grow at 12% CAGR between 2021-2027 owing to increasing approval of new products and rising awareness about advanced treatment options in the region.
Key players profiled in the report are Takeda Pharmaceutical Company, F.Hoffmann La Roche AG, Eli Lily and Company, AbbVie Inc., AstraZeneca plc, Amgen Inc., Novartis international AG, Merck & Co. Inc., Bristol Myers Squibb, Regeneron Pharmaceuticals Inc., and Johnson & Johnson.