Monoclonal Antibodies Market Projected to Reach USD 243.05 Billion by 2028
Monoclonal antibodies market report highlights industry entry strategies for various companies across the globe.
NEW YORK, UNITED STATES, March 11, 2023 /EINPresswire.com/ -- The Insight Partners Latest Research on "Monoclonal Antibodies Market Forecast to 2028" Includes COVID-19 Impact and Global Analysis By Source (Human, Humanized, Chimeric, and Murine), Production Method (In-Vitro and In-Vivo), Indication (Cancer, Autoimmune Diseases, Infectious Diseases, Inflammatory Diseases, Microbial Diseases, and Others), Application (Therapeutic Applications, Diagnostic Applications, and Research Applications), and End-User (Hospitals, Others, and Research Institutes)
“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 report highlights the key factors driving the market growth and prominent players with their developments in the market.
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Food and Drug Administration (FDA) defines monoclonal antibodies as immunoglobulin molecules which 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 includes host and foreign substances.
The monoclonal antibodies market is majorly comprised of top players involving 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.
The companies listed above are implementing various strategies that have resulted in the growth of the company and in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Below is the list of the growth strategies done by the players operating in the monoclonal antibodies market:
August-2020: Roche and Regeneron announced that they are collaborating to develop, manufacture, and distribute REGN-COV2. This is company’s investigational antiviral antibody combination, to people around the globe. This collaboration is expected to increase the supply REGN-COV2 to at least three and a half times the current capacity, with the potential for even further expansion
June-2019: Amgen and Allergan plc announced that FDA approved KANJINTI for all approved indications of the product Herceptin for the treatment of HER2 overexpressing adjuvant and metastatic breast cancer and HER2-overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma
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Covid-19 Outbreaks:
COVID-19 has a positive impact on the adoption and growth of global monoclonal antibodies market. For example, the NCBI report states that, the Food and Drug Administration (FDA) announced emergency use authorization (EUA) for three monoclonal antibodies intended for COVID-19 patients with allocation of nearly 1 million antibody treatments. Also, monoclonal antibodies remain the only approved outpatient therapies intended for COVID-19 patients. Also, various regulatory agencies have favorable policies related to monoclonal antibodies effective for COVID-19 situations. For example, The Crown report states that, in August 2020, the Medicines and Healthcare products Regulatory Agency (MHRA) announced granting approval for the first monoclonal antibody treatment intended for the prevention of COVID-19 in UK. Such aforementioned factors have a positive impact on the market growth during the analysis period from 2021 to 2028.
The report segments the monoclonal antibodies market as follows:
Based on 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
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