The monoclonal antibodies market is projected to reach US$ 243.05 billion by 2028 from US$ 111.01 billion in 2021; it is expected to grow at a CAGR of 11.8% from 2021 to 2028.
The increasing prevalence of cancer and other chronic diseases, and a tremendous rise in COVID-19 cases across various regions are the key factors fueling the market growth. According to World Cancer Research Fund and American Institute for Cancer, in 2020, ~18.1 million cancer cases were recorded, including 9.3 million cases in men and 8.8 million cases in women. The use of monoclonal antibodies in the treatment of various types of cancer is still in phases 2 and phase 3 trials.
North America is likely to continue its dominance in the monoclonal antibodies market during 2021–2028. The US holds the largest share of the market in this region and is expected to continue to be a dominant shareholder in the market during the forecast period. According to the statistics released by Globocan 2020, ~1,806,590 new cases of cancer were diagnosed in the US and ~606,520 people died due to this disease. As per a report by the US Department of Commerce, its National Institute of Standards and Technology (NIST) announced the funding of US$ 153 million to the National Institute for Innovation in Manufacturing Biopharmaceuticals. Additionally, the FDA has been extending support for the development of monoclonal antibodies during COVID-19 prevalence.
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Monoclonal Antibodies Market: Strategic Insights
Market Size Value in US$ 111.01 Billion in 2021 Market Size Value by US$ 243.05 Billion by 2028 Growth rate CAGR of 11.8% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Monoclonal Antibodies Market: Strategic Insights
Market Size Value in | US$ 111.01 Billion in 2021 |
Market Size Value by | US$ 243.05 Billion by 2028 |
Growth rate | CAGR of 11.8% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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Significant Rise in Prevalence of Cancer and Other Chronic Diseases Drives Market Growth
As per the American Cancer Society report, ~16.9 million individuals with a history of cancer were residing in the US as of January 2019. By January 2030, the population of cancer survivors is estimated to rise to 22.1 million due to the growth and aging of the population alone. Therefore, with the growing prevalence of cancer and other chronic diseases, the demand for biologics, such as monoclonal antibodies (mABs), has also surged. Being principal components of many therapeutic regimens and cost-effectiveness treatments, biologics play a key role in cancer treatment.
Source-Based Insights
Based on the source, the monoclonal antibodies market is segmented into murine, chimeric, human, and humanized. The human segment is estimated to account for the largest market share during 2021–2028. The market growth of this segment is attributed to the rise on account of the integration of human monoclonal antibodies for the treatment of various kinds of infectious diseases. For instance, Regeneron launched FDA approved antibody cocktail casirivimab and imdevimab together for use in COVID-19. The drug has received Emergency Use Authorization (EUA) from FDA. It is used for the treatment of mild to moderate COVID-19 in adults as well as in pediatric patients at least 12 years of age and weighing at least 40kg. Moreover, an increase in their use in various chronic diseases and employment of advanced genetic engineering technology are among the significant factors driving the market segment's growth.
Monoclonal antibodies Market, by Source - 2020 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Indication-Based Insights
Based on indication, cancer, autoimmune diseases, inflammatory diseases, infectious disease, microbial disease, and others. The cancer segment would dominate the market in the coming years. Advancements related to the therapeutic application of monoclonal antibodies have enabled their successful implementation in the treatments of various cancer types, such as breast cancer, lung cancer, and colon cancer. Drugs based on these antibodies help in flagging cancer cells, triggering cell-membrane destruction, blocking immune system inhibitors, and so on. The FDA, in June 2020, approved two drugs—olaparib and rucaparib for the treatment of prostate cancer. The drug is especially effective among men with prostate cancer conditions that have spread or metastasized and has stopped responding to standard hormone treatments, i.e., castration-resistant disease condition.
End-User-Based Insights
By end-user, the monoclonal antibody market is segmented into hospitals, research institutes, and others. The hospital segment holds the largest market share owing to the increasing adoption mABs as a preferred line of treatment, especially for cancer treatment.
Companies operating in the monoclonal antibodies market adopt the product innovation strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.
Monoclonal antibodies Market - Segmentation
Based on the source, the monoclonal antibodies market is segmented into human, humanized, chimeric, and murine. By production method, the market is segmented into in-vitro and in-vivo. The monoclonal antibodies market, by indication, is further segmented as cancer, autoimmune diseases, infectious diseases, inflammatory diseases, microbial diseases, and others. By application, the market is subsegmented as therapeutic applications, diagnostic applications, and research applications. Furthermore, based on end-user, the market is segmented into hospitals, others, and research institutes..
Monoclonal antibodies Market - by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Novartis AG
- Pfizer Inc.
- GlaxoSmithKline plc
- Amgen, Inc
- Daiichi Sankyo Company, Limited
- F. Hoffmann-La Roche AG
- AstraZeneca
- Elli Lily and Company
- Bayer AG
- Bristol-Myers Squibb Company
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Source, Production Method, Indication, Application, and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Global monoclonal antibodies market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for monoclonal antibodies market. The US is estimated to hold the largest share in the monoclonal antibodies market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercializing new products are the contributing factors for the regional growth. Additionally, the increasing number of R&D activities is the key factor responsible for the Asia-Pacific regional growth for monoclonal antibodies accounting fastest growth of the region during the coming years.
Novartis AG, Pfizer, Inc., GlaxoSmithKline Plc, Amgen, Inc., Daiichi Sankyo Company, Limited, F.Hoffmann-La Roche AG, AstraZeneca, Elli Lilly and Company, Bayer AG, Bristol-Myers Squibb Company are among the leading companies operating in the global monoclonal antibodies market
The in vitro segment dominated the global monoclonal antibodies market and accounted for the largest revenue of 75,044.50 Mn in 2021.
Food and Drug Administration (FDA) defines monoclonal antibodies as immunoglobulin molecules that are secreted from a population of identical cells. They are homogenous in structure and binding specificity. These are used as multifunctional components for the immune system. They facilitate numerous cellular and humoral reactions to a variety of antigens, which include host and foreign substances.
Significant rise in the cancer and chronic diseases is one of the most significant factors responsible for the overall market growth.
Based on source, human segment took the forefront lead in the worldwide market by accounting largest share in 2020 and is expected to continue to do so till the forecast period.
The List of Companies - Monoclonal Antibody Market
- Novartis AG
- Pfizer Inc.
- GlaxoSmithKline plc
- Amgen, Inc
- Daiichi Sankyo Company, Limited
- F. Hoffmann-La Roche AG
- AstraZeneca
- Elli Lilly and Company
- Bayer AG
- Bristol-Myers Squibb Company
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- Data Collection and Secondary Research:
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Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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