Monoclonal Antibodies Market Anticipated to Mark at a CAGR of 15.5% by 2027
The global monoclonal antibodies market is segmented by product type into chimeric, murine, humanized, human; by production type into In vivo or In vitro; by application into auto immune diseases, inflammatory diseases, infectious diseases, cancer and others; by end use into research institutes, hospitals and others. The monoclonal antibodies market is anticipated to mark a CAGR of around 15.5% during the forecast period i.e. 2018-2027.
The market is observing a vibrant growth due to the increase in number of cancer patients and chronic diseases around the globe. Technological advancement in the field of genetics and cost effectiveness of the technology used for research to generate monoclonal antibodies is anticipated to augment the growth of the market. Additionally, increased preference towards personalized medicine coupled with wide range of applications is expected to increase the demand for monoclonal antibodies in the market.
Regionally, the global monoclonal antibodies market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to dominate the global monoclonal antibodies market as there are many established healthcare infrastructures around the region. Additionally, government is also putting more emphasis on infection and disease control. In the upcoming years, funding by the government will increase on research and development activities of cancer. These factors are anticipated to augment the growth of the market in this region.
Europe is anticipated to be the second largest market to show a significant growth as the cases of cancer and autoimmune diseases are growing in the region. Further, Asia-Pacific region is expected to augment the growth of the market as the awareness among patients is increasing which is anticipated to drive the demand for monoclonal antibodies across the globe.
Vibrant Growth of Monoclonal Antibodies Market
The increase in the cancer population, chronic diseases and autoimmune diseases is driving the demand for monoclonal antibodies owing to their ability to recognize and binding to specific receptors which are present on the surface of the cell. Additionally, cost effectiveness of monoclonal antibodies and increased emphasis on disease and infection control are expected to boost the market shares during the forecast period.
However, the escalating cost of research and development processes and growing price of treatments which are using monoclonal antibodies are estimated to restrain the growth of the market.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global monoclonal antibodies market which includes company profiling of Bristol-Myers Squibb, Johnson & Johnson, Merck, Ab Genomics, Astra Zeneca, Bayer HealthCare, Biogen, Daiichi Sankyo, Eli Lilly, Formation Biologics and Genmab. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global monoclonal antibodies market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.