Monoclonal Antibodies Market Size to Hit US$ 524.68 Bn By 2030

Ottawa, May 23, 2022 (GLOBE NEWSWIRE) -- According to Precedence Research, the global monoclonal antibodies market is expected to grow due to the surging prevalence of various chronic diseases such as cancer, rheumatoid arthritis, Crohn’s disease, and autoimmune diseases across the globe. The rise in funding by the pharmaceutical companies in the research and development of the genomic is boosting the adoption of the next-generation sequencing platforms. The rising adoption of the technologically advanced platform like next-generation sequencing in the production of the monoclonal antibodies is expected to significantly drive the growth of the global monoclonal antibodies market in the forthcoming future.

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The rapid emergence and popularity of various biosimilar drugs like Rituxan, Herceptin, Remicade, and Avastin has led to the huge revenue growth in the global monoclonal antibodies market. These drugs are very much effective in the treatment of rheumatoid arthritis, Crohn’s disease, cancer, and ulcerative colitis. The rapidly growing awareness regarding the effectiveness of the drugs among the patients is significantly boosting the growth of the global monoclonal antibodies market.

Scope of the Report

Regional Snapshot

North America led the global monoclonal antibodies market in 2021. Over 1.8 million new cancer cases and around 606,520 deaths were recorded in the US in 2020, as per the American Cancer Society. Moreover, around 24% of the US population will be aged 65 years or above by 2060. Therefore, the rapidly ageing population and growing prevalence of cancer among the population has led to the dominance of North America in the global monoclonal antibodies market. The presence of advanced healthcare facilities and increased healthcare expenditure coupled with the increased penetration of the pharmacies and higher adoption of the healthcare insurance among the population are some of the major factors that has led to the significant growth of the North America monoclonal antibodies market.

On the other hand, Asia Pacific is expected to be the fastest-growing market during the forecast period. The population in Asia Pacific is witnessing an increasing number of patients owing to the rising prevalence of various diseases. The rising healthcare expenditure and the rising investments in the development of sophisticated healthcare infrastructure in the nations like India, China, Indonesia, and South Korea are expected to boost the demand for the monoclonal antibodies for the treatment of diseases. The rising penetration of online pharmacies and growing adoption of the online pharmacy platforms will have a significant and positive impact on the growth of the Asia Pacific monoclonal antibodies market in the near future.

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Report Highlights

• Based on the source, the human mAb was the dominating segment in 2021. The rising sales of Humira and Adalimumab biosimilar has led to the growth of this segment in the past few years. The rising investments in the research and development of various biosimilars are expected to further fuel the growth of this segment.
• By indication, cancer segment dominated the market in 2021. Rising consumption of tobacco and processed food and rising prevalence of smoking among the youth are the major causes of cancer and the higher demand for the cancer treatment drugs among the population has led to the dominance of this segment.
• Based on distribution channel, the online pharmacy is anticipated to be the fastest-growing segment. The rising adoption of smartphones and growing penetration of internet along with rising popularity of the online pharmacies is expected to boost the growth of the online pharmacy segment.
  
  

Market Dynamics

Driver

Rapidly growing prevalence of chronic diseases

The new cancer cases are projected to grow by around 47% from 2020 to 2040. It is estimated that around 28.4 million new cancer cases will be reported in 2040, globally. Therefore, the rising cases of cancer and other chronic diseases among the global population is expected to drive the demand for the monoclonal antibodies and foster the market growth during the forecast period.

Restraint

Lack of proper reimbursement policies

Most of the people depends on reimbursements for receiving treatment. There is a lack of proper reimbursement policies and lack of health insurances especially in the developing and underdeveloped economies. This is major factor due to which most of the patients remain undiagnosed and untreated. Therefore, the lack government policies regarding the reimbursements may hamper the growth of the market.

Opportunity

Rising investments in developing novel therapeutics

The monoclonal antibodies are emerging as an effective tool to treat various chronic diseases with low or no side effects. The preference for this product is rapidly rising owing to the blockbuster performance of various drugs like Remicade, Avastin, Rituxan, and Herceptin. Furthermore, the manufacturers are enegaed in the development of new drugs and product launches which will further accelerate the market growth in the foreseeable future.

Challenge

High costs of monoclonal antibodies

The costs of the mAbs is high. The low financial capabilities of the low and middle income groups across the developing and underdeveloped nation and lack of proper access to the healthcare facilities is a major challenge for the market players that may hamper the growth of the global monoclonal antibodies market.

Recent Development

• In October 2018, Amgen introduced its new Amgevita, a biosimilar of adalimumab, in Europe.
  
  

Market Segmentation

By Source

• Humanized mAb
• Human mAb
• Murine mAb
• Chimeric mAb

By Indication

• Cancer
  • Breast cancer
  • Colorectal cancer
  • Lung cancer
  • Ovarian cancer
  • Others
• Autoimmune Diseases
• Inflammatory Diseases
• Infectious Diseases
• Others

By Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy
  
  

By Production Methods

• In Vivo
• In Vitro

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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