A renowned research company, Cognizance Market Research, recently added a cutting-edge market report on the ” Monoclonal Antibody Therapeutics Market.” The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2030.
Monoclonal Antibody Therapeutics Market Analysis
According to cognizance market research the monoclonal antibody therapeutics market is expected to register a CAGR of 11.04% from 2023 to 2030.
What is Monoclonal Antibody Therapeutics ?
Monoclonal Antibody is a type of protein that is made in the research laboratory and can bind to certain targets in the body. This treatment aims to diminish symptom severity, lower viral loads, and assist in preventing hospitalisations.
Monoclonal antibodies are the foundation of this kind of treatment. These antibodies are comparable to those that your body normally produces in response to an infection. Monoclonal antibodies, on the other hand, are created in large quantities in a lab and are made to detect a particular part of this virus, the spike protein on its outer shell.
These particular antibodies obstruct the virus’ ability to adhere and enter human cells by specifically focusing on the spike protein. they aid the immune system until it can mount a defence on its own.
Monoclonal Antibody Therapeutics Market Outlook
The market for monoclonal antibodies (mAbs) is predicted to be significantly impacted by the rising prevalence of chronic diseases like cancer, cardiovascular disorders, and others. Similar to this, more mAb therapies are being used for targeted therapies, and patients and doctors are becoming more aware of these therapies, which is predicted to considerably contribute to the market’s growth.
Moreover, the COVID-19 pandemic has improved market expansion prospects by encouraging the creation of a number of mAbs that target the SARS-CoV-2 virus. Because to their efficiency and safety, mAbs are a promising alternative for COVID-19 mitigation. Many of these antibodies have received emergency use authorizations (EUA) from the U.S. FDA. The U.S. FDA has given its approval to more than 100 mAb products, and as more advanced therapy options such as antibody fragments, derivatives, and bispecific antibodies are developed, the range of therapeutic mAb applications is anticipated to expand.
However, the high expenses incurred in the creation of mAbs and the subsequent rise in the cost of mAb therapies may limit market expansion in the near future. For instance, COVID-19 therapy mAbs from GSK & Vir Biotechnology’s sotrovimab and Regeneron’s REGEN-COV (casirivimab and imdevimab) cost approximately USD 1,250 and USD 2,100 per infusion, respectively. For the huge patient populations in poor nations, such high drug prices may impede the adoption of mAbs and restrict their access to mAb therapies.
Segment Analysis:
The monoclonal antibody therapeutics market has been segmented into source type, production type, application, and geography.
Based on source type the monoclonal antibody therapeutics market is segmented into Murine, Chimeric, Humanized and Human.
Based on production type the Monoclonal Antibody Therapeutics market is segmented into in-vivo and in-vitro.
On the basis of application, Monoclonal Antibody Therapeutics Market is segmented into Oncology, Autoimmune Diseases, Infectious Diseases, Neurological Diseases and Others.
Geographical Analysis:
The presence of a highly established healthcare infrastructure, strong patient awareness, and expansion in cancer research potential, among other reasons, contributed to North America having the greatest market share of 46.1% in 2022. Moreover, rising government funding for cancer research and the presence of major companies like Merck & Co., Pfizer Inc., and Amgen Inc. are anticipated to promote market expansion. Because to rising disposable income, a big patient pool for mAb cancer therapies, and a growing emphasis on healthcare, the Asia Pacific area is predicted to grow at the quickest rate, 12.1%, throughout the projection period. Clinical research investment opportunities are appealing in nations like India and China, which is expected to improve the outlook for future research and development.
The report offers the revenue of the monoclonal antibody therapeutics market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the monoclonal antibody therapeutics market for the forecast period. The monoclonal antibody therapeutics market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the monoclonal antibody therapeutics market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the monoclonal antibody therapeutics market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the monoclonal antibody therapeutics market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the monoclonal antibody therapeutics market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the monoclonal antibody therapeutics market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the monoclonal antibody therapeutics market. The subsequent section of the monoclonal antibody therapeutics report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Monoclonal Antibody Therapeutics Market Competitive Landscape
By implementing strategic actions that might improve their product portfolio and support growth initiatives, major market participants are fostering market expansion. Some of the major companies in the worldwide monoclonal antibodies market are:
For instance, Sanofi S.A. and Blackstone Life Sciences collaborated in March 2022 to hasten the development of a subcutaneous Sarclisa mAb formulation for the treatment of multiple myeloma patients. To identify the likely investment opportunities, the study offers a thorough analysis of the monoclonal antibody market’s size, together with current trends and projections for the future.
Segmentation:
Monoclonal Antibody Therapeutics Market, by Source Type
Monoclonal Antibody Therapeutics Market, by Production Type
Monoclonal Antibody Therapeutics Market, by Application
Monoclonal Antibody Therapeutics Market, by Region
Monoclonal antibodies are laboratory-made proteins that can bind to specific targets in the body. They are used to treat a wide range of diseases, including cancer, autoimmune diseases, and infectious diseases.
Monoclonal antibody therapeutics work by binding to specific targets in the body and triggering a response from the immune system. This response can help to kill cancer cells, suppress inflammation, or neutralize viruses.
Monoclonal antibody therapeutics are often more targeted and effective than traditional treatments, such as chemotherapy or radiation therapy. They are also generally less toxic and have fewer side effects.
The main challenge facing the monoclonal antibody therapeutics market is the high cost of developing and manufacturing these drugs. This can make them less accessible to patients in developing countries.
The future outlook for the monoclonal antibody therapeutics market is positive. The market is expected to grow rapidly in the coming years, driven by factors such as the increasing prevalence of chronic diseases, the rising demand for targeted therapies, and the development of new monoclonal antibody treatments for a wider range of diseases.
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