Pune, May 11, 2020 (GLOBE NEWSWIRE) -- The global monoclonal antibodies therapy market size is projected to reach USD 350.10 billion by the end of 2027. The increasing prevalence of severe diseases such as cancer will create several opportunities for the companies operating in the market. According to a report published by Fortune business Insights, titled “Monoclonal Antibody Therapy Market Size, Share & Industry Analysis, By Type (Human Monoclonal Antibody, Humanized Monoclonal Antibody, Chimeric Monoclonal Antibody, and Murine Monoclonal Antibody), By Application (Cancer, Autoimmune Diseases, and Others), By Distribution Channel (Hospital Pharmacy Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027,” the market was worth USD 123.03 billion in 2019 and will exhibit a CAGR of 14.0% during the forecast period, 2020-2027.
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Monoclonal antibodies are immune system proteins that are developed in laboratories. The therapeutic procedures associated with monoclonal antibodies are used in treatment of cancer. The advancements in ongoing clinical trials of drugs as well as treatment options related to these products will aid the growth of the overall market in the coming years. The increasing investment in the research and development of the product will have a positive impact on the growth of the overall market in the forthcoming years.
Several monoclonal antibodies are immunotherapeutic, accounting to their ability to treat severe diseases. To put it in clearer terms, this type of therapy makes use of monoclonal antibodies to target the specific cells that are affected by diseases such as cancer. The increasing demand for the product, driven by the low costs of these therapies will bode well for the market. Moreover, the presence of several healthcare reimbursement policies will contribute to the growth of the market in the coming years.
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Increasing Number of Product Launches Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing investment in the research and development of the product has yielded a few exceptional products in recent times. To tackle severe diseases such as cancer as well as coronavirus, companies are coming up with newer products that will help treat these diseases. In December 2019, Mylan and Biocon announced the launch of new product under the monoclonal antibody therapy category. The company introduced ‘Ogivri,’ a product that is a biosimilar of trastuzumab.
The company will launch the product for commercial use in the United States. The companies’ latest product will not just generate substantial monoclonal antibody market revenue but will also have a huge impact on the growth of the overall market in the foreseeable future. The report includes a few of the major products, similar to Ogivri and discusses their impact on the growth of the overall market in the coming years.
North America to Emerge Dominant; Increasing Prevalence of Chronic Diseases Will Aid Growth
The report analyzes the ongoing monoclonal antibody therapy market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America is projected to emerge dominant in the coming years. The increasing prevalence of chronic diseases has contributed to the growing demand or efficient as well as low-cost therapeutic approaches for treatment.
The increasing number of strategic collaborations and funding towards these therapies will also bode well or the growth of the market in this region. As of 2019, the market in North America was worth USD 58.80 billion and this value is projected to increase further in the coming years. The market in Europe will derive growth from the presence of several healthcare reimbursement policies. Moreover, increasing prevalence of diseases such as arthritis as well as inflammatory diseases will contribute to the growth of the market.
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List of Key Companies Operating in the Monoclonal Antibody Therapy Market are:
• AbbVie Inc.
• Merck & Co., Inc.
• F.Hoffmann-La Roche Ltd.
• Bristol-Myers Squibb Company
• Johnson & Johnson Services, Inc.
• Daiichi Sankyo Company, Limited
• Novartis AG
• Alexion Pharmaceuticals, Inc.
• Amgen Inc.
• Others
Industry Developments:
April 2020: GlaxoSmithKline plc announced a collaboration with Vir Biotechnology, Inc. for aimed at developing a treatment against corona virus with the help of Vir’s monoclonal antibody platform
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Major Diseases – For Key Countries
- Patent Snapshot
- Pipeline Analysis
- New Product Launches
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Key Industry Trends
- Global Monoclonal Antibody Therapy Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Human Monoclonal Antibody
- Humanized Monoclonal Antibody
- Chimeric Monoclonal Antibody
- Murine Monoclonal Antibody
- Market Analysis, Insights and Forecast – By Application
- Cancer
- Autoimmune Diseases
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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