Monoclonal Antibodies Market to touch US$ 647.01 Billion by 2032, applications abound in Oncology: FMI Report
The global demand for monoclonal antibodies market is projected to increase at a CAGR of 12% during the forecast period between 2022 and 2032, reaching a total of US$ 647.01 Billion in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 6.1%.
Human mAbs offer efficient modulation in effector functions and are less immunogenic as compared to chimeric or humanized mAbs. Such antibodies can be produced through the use of phage display and hybridoma technologies in transgenic mice. As a result, with recent technological progress in genetic engineering, the production of fully human mAbs is anticipated to gain traction in the near future.
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North America recorded the largest market share of 46.2% in 2021 due to the presence of a highly developed healthcare infrastructure, high patient awareness, and growth in cancer research prospects, among other factors. Moreover, increasing government expenditure for cancer research and the presence of key players such as Pfizer Inc., Amgen, Inc., and Merck & Co., among others, are expected to boost the market growth. Rising healthcare expenditure across the world, increasing patient awareness levels, and availability of advanced hospital infrastructure in developed countries are factors expected to result in the dominance of the segment during the forecast period.
Key Takeaways from the Market Study
- In 2022, the global monoclonal antibodies market size was valued at USD 186 billion in 2021.
- The market is projected to increase at a CAGR of 12% during the forecast period between 2022 and 2032, reaching a total of US$ 647.01 Billion in 2032
- The human source type held the largest share and accounted for 54.07% of the market value in 2021.
- The North American market for monoclonal antibodies expanded with a market share of 46.2% in 2022.
- Asia Pacific is projected to exhibit the fastest growth rate in the forecast period.
“Applications of mAbs for the treatment of autoimmune diseases are projected to grow at a lucrative rate due to the increasing prevalence of autoimmune conditions such as rheumatoid arthritis.” comments a Future Market Insights analyst.
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The market is expected to become more competitive in the near future, as many companies focus their efforts on research and the creation of innovative diagnostic techniques through product line expansions, acquisitions, and mergers.
Key players in the Monoclonal Antibodies market are:
Novartis AG; Pfizer Inc; GlaxoSmithKline plc; Amgen Inc.; Merck & Co., Inc.; Daiichi Sankyo Company, Limited; Abbott Laboratories; AstraZeneca plc; Eli Lilly And Company; Johnson & Johnson Services, Inc. and many more.
- In November 2021, Bristol-Myers Squibb Company received the U.S. Food and Drug Administration approval for Opdivo (nivolumab) plus Yervoy (ipilimumab) combined with limited chemotherapy as first-line treatment of metastatic or recurrent non-small cell lung cancer. Patients with squamous or non-squamous illness, independent of PD-L1 expression, are eligible for the treatment. 1 The FDA’s Real-Time Oncology Examine (RTOR) pilot programme was used to review this application, which aims to ensure that safe and effective medicines are offered to patients as soon as feasible.
- In March 2022, Sanofi S.A. and Blackstone Life Sciences entered a collaboration for accelerating the development of a subcutaneous formulation of Sarclisa mAb for the treatment of patients with multiple myeloma.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global monoclonal antibodies market, presenting historical analysis from 2016 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of test type (tumor biomarkers tests, imaging, biopsy, liquid biopsy, immunohistochemistry, in situ hybridization), by indication (breast cancer, lung cancer, colorectal cancer, melanoma, blood cancer, prostate cancer, ovarian cancer, stomach cancer, liver cancer and others) and by end-user (hospital associated labs, independent, diagnostic laboratories, diagnostic imaging centers, cancer research institutes and others) and regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Key Segments Profiled in the Monoclonal Antibodies Market Industry Survey
Monoclonal Antibodies Market by Production Type:
- In Vivo
- In Vitro
Monoclonal Antibodies Market by Source Type:
Monoclonal Antibodies Market by End User:
- Specialty Centers
Monoclonal Antibodies Market by Application:
- Autoimmune Diseases
- Infectious Diseases
- Neurological Diseases
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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