CANCER MONOCLONAL ANTIBODIES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Cancer Monoclonal Antibodies Market Size and Trends

The cancer monoclonal antibodies market is estimated to be valued at USD 96.68 Bn in 2024 and is expected to reach USD 263.17 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.

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The cancer monoclonal antibodies market growth is primarily driven by the increasing global burden of cancer, and advancements in next-generation therapeutics targeting hard-to-treat cancers. However, the market faces restraints such as the high costs associated with monoclonal antibody therapies and limited access to skilled professionals for their administration and testing. Despite these challenges, rising healthcare awareness and ongoing research are expected to create significant opportunities for market expansion.

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Insights By Source - Superior efficacy and reduced immunogenicity compared to other sources drives human segment growth

In terms of source, human segment is estimated to contribute the highest market share of 40.4% in 2024 owing to its superior efficacy and reduced immunogenicity compared to other sources. Being fully humanized, human monoclonal antibodies impart significantly lower risk of inducing an adverse immune response in patients. Overall, the humanization process enhances the safety, tolerability, and anti-tumor productivity of monoclonal antibodies, accounting for its dominance as an important source in the cancer monoclonal antibodies market.

Insights By Application – High prevalence of blood cancer drives its segment growth

In terms of application, blood cancer segment is estimated to contribute the highest market share of 53.6% in 2024 given the widespread prevalence and mortality associated with hematological malignancies. Monoclonal antibody drugs have revolutionized the treatment paradigm for blood cancers like leukemia, lymphoma, and myeloma, delivering significantly improved responses and survival benefits compared to conventional chemotherapy. Combined with combination regimens, the next wave of more effective antibody drugs could transform long-term management of blood cancers.

Insights By End User – Central role of hospitals in the administration of monoclonal antibody drugs

In terms of end user, hospital segment is estimated to contribute the highest market share of 43.1% in 2024, given their central role in the administration of monoclonal antibody drugs, especially for cancer. Their central role in administering these therapies is crucial, as they serve as primary sites for diagnosis, treatment, and monitoring. Additionally, their significant purchasing power drives demand, facilitating access to advanced treatments and maintaining their position as key end users in this growing market.

Regional Insights

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Regional Analysis: Cancer Monoclonal Antibodies Market

Dominating Region: North America

North America is expected to dominate the cancer monoclonal antibodies industry with the highest market share of 39.4% in 2024, due to factors such as robust research and development activities, presence of major pharmaceutical companies, and favorable regulatory environment that promotes innovation.

Fastest-Growing Region: Asia Pacific

Asia Pacific region exhibits the fastest growth with 24.2% market share in 2024, due to rising incidences of cancer, growing geriatric population, increasing investments from global pharmaceutical players looking to tap into the region's high potential, and favorable government initiatives that are driving wider access to novel therapies.

Cancer Monoclonal Antibodies Market Outlook for Key Countries

Increasing the range of products in the U.S.

Increasing the range of products validated for standard IVD uses will stimulate the growth of the cancer monoclonal antibodies industry over the projected period. For instance, on June 6, 2024, GeneTex, Inc., a biotechnology company based in California, U.S, announced that utilizing its recombinant monoclonal antibody production platform and “5 + 1 Pillar” validation protocol, the company is expanding its recombinant antibody catalog with reagents thoroughly validated for common in vitro diagnostics (IVD) applications, which include immunohistochemistry (IHC), lateral flow assay (LFA), and enzyme-linked immunosorbent assay (ELISA)

Increasing adoption of inorganic growth strategies in China

Increasing adoption of inorganic growth strategies by the key market players drives China cancer monoclonal antibodies market growth. For instance, in May 2020, Medical and Biological Laboratories Co., Ltd. (MBL), a JSR Life Sciences company, announced that it had concluded the license agreement with China National Biotec Group Co., Ltd. (CNBG), a subsidiary of China National Pharmaceutical Group Corporation (SINOPHARM), to comprehensively license fully human monoclonal antibodies generated by MBL for four (4) infectious diseases.

Increasing healthcare spending on cancer research in Japan

The cancer monoclonal antibodies market in Japan is significantly driven by increased government and healthcare organization spending on cancer research and treatment. For instance, Astellas Pharma received approval from Japan’s Ministry of Health, Labour and Welfare (MHLW) for Vyloy (zolbetuximab), an anti-claudin 18.2 monoclonal antibody for gastric cancer. This investment enhances the availability and accessibility of monoclonal antibody therapies, ensuring that advanced treatments reach patients effectively and efficiently.

India’s initiatives to enhance healthcare access

India cancer monoclonal antibodies industry is set for growth, driven by initiatives to enhance healthcare access and strengthen pharmaceutical infrastructure. The country's ambition to establish itself as a global biosimilars hub further supports the development and availability of monoclonal antibody therapies, ensuring broader patient access to effective cancer treatments. One notable contributor is AstraZeneca India Pvt. Ltd., which has made substantial strides in advancing monoclonal antibody therapies for cancer treatment.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Cancer Monoclonal Antibodies Market Players

• Established players in the cancer monoclonal antibodies market focus heavily on research and development to introduce innovative therapeutic solutions. Companies like Bio-Rad Laboratories, Inc., invest over 15% of their annual revenues in research and development activities. These players also pursue strategic alliances and partnerships with biotech startups to gain access to new antibody technologies and diagnostic platforms.
• Mid-level companies aim to capture market share by providing cost-effective alternatives to high-priced branded drugs. Companies like AMSBIO manufacture affordable biosimilar versions of popular monoclonal antibodies once their patents expire. They undercut prices of originator brands by 20-30% on average. Some mid-tier players collaborate with large pharmaceutical distributors and contract manufacturing organizations. This helps boost their production capabilities and expedite market penetration.
• Small-scale companies occupy lucrative market niches by leveraging specialized capabilities. For example, companies focused on monoclonal antibodies for rare cancers benefit from small patient pools that big pharmaceutical firms often overlook.

Emerging Startups in the Cancer Monoclonal Antibodies Market

Many startups are actively developing innovative monoclonal antibody technologies. Companies like Sana Biotechnology are engineering CAR-T cells with built-in safety switches to reduce risks of cytokine release syndrome.

Sustainability is a priority for some emerging startups. They offer an eco-friendly and low-cost production method. Startups aims to reduce the industry's carbon footprint by producing antibodies in engineered algae grown in vertical photo bioreactors. Their techniques could help lower production costs while conserving natural resources.

Startups also explore niche clinical areas overlooked by larger firms. For example, Innovent Biologics focuses on developing monoclonal antibodies for rare cancers in China through partnerships with regional hospitals.

Cancer Monoclonal Antibodies Industry News

• On August 17, 2024, Cizzle Biotechnology, a diagnostics company focused on developing a cost effective biomarker test to help detect early-stage lung cancer, announced a strategic agreement with BBI Solutions, a biotechnology company based in the U.K., to supply its first order of commercial propriety monoclonal antibodies. This agreement is a significant milestone for Cizzle Biotechnology to commercialize its cost-effective biomarker test for early-stage lung cancer detection.
• On February 28, 2024, AbbVie Inc., a global pharmaceutical firm, and OSE Immunotherapeutics SA, a clinical-stage immunotherapy company, announced a strategic partnership to develop OSE-230, a monoclonal antibody targeted to treat chronic and severe inflammation that is currently in pre-clinical development. OSE-230 is a first-in-class monoclonal antibody that activates ChemR23, a GPCR target. ChemR23 activation may provide a unique strategy for resolving chronic inflammation by altering macrophage and neutrophil activity.
• In October 2023, Bio-Rad Laboratories, Inc., a life science company, extended its range of recombinant monoclonal anti-idiotypic antibodies with the introduction of six antibodies specific to dupilumab (Dupixent) and the addition of new evolocumab (Repatha), ipilimumab (Yervoy), and secukinumab (Cosentyx) antibodies
• In February 2022, Rockland Immunochemicals, Inc., a global biotechnology company, announced that it had completed the acquisition of antibodies-online GmbH (antibodies-online), part of Rockland Immunochemicals, Inc., one of the leading vendor-independent marketplaces for research reagents, especially antibodies, proteins, and ELISA kits to accelerate and enable scientific discovery and development of therapies and diagnostics.

Key Takeaways from Analyst

• The rising prevalence of various cancer types globally is a major driver for increasing demand of monoclonal antibodies-based drugs.
• North America will continue dominating due to established research capacities and faster uptake of premium-priced drugs among patients and healthcare providers. Major pharmaceutical firms are also boosting regional manufacturing scale to improve access. Asia Pacific is likely to emerge as the fastest growing regional market due to rapid economic development, growing healthcare spending, and increasing focus on cancer care infrastructure across China, India, South Korea, and other countries that provide an appealing growth environment.
• High development costs of monoclonal antibodies and subsequent pricing pressures pose significant challenges. Manufacturers will need to balance investments in research with financial returns to sustain long-term growth. Biosimilars emergence also increases treatment affordability but cannibalizes originator drugs sales.

Market Report Scope

Market Dynamics

Market Driver - Adoption of inorganic growth strategies by market players

The adoption of inorganic growth strategies such as collaborations and partnerships by key players is a major factor contributing to the growth of the cancer monoclonal antibodies market. For instance, on May 22, 2024, Nona Biosciences, a global biotechnology company, stated that it had signed a license agreement with AstraZeneca, a global, science-led biopharmaceutical corporation, to develop preclinical monoclonal antibodies for targeted cancer therapies. According to the terms of the agreement, Nona Biosciences will receive US$ 19 million upon completion of the purchase.

Market Challenge – High treatment cost 

The high treatment cost of monoclonal antibodies (mAbs) hampers market development by limiting patient accessibility and placing financial strain on healthcare systems, especially in low- and middle-income countries. For instance, KEYTRUDA (Pembrolizumab), the list price for each indicated dose of KEYTRUDA when given every 3 weeks is US$ 11,337.36. The list price for each indicated dose of KEYTRUDA when given every 6 weeks is US$ 22,674.72. Additionally, most of these countries lack proper health coverage for monoclonal antibody therapies, thereby hindering the market development in the emerging markets.

Market Opportunity – Launch of efficient bioreactors to increase production

The launch of efficient bioreactors to increase production can provide significant opportunities for the cancer monoclonal antibodies market in the coming years. For instance, in April 2023, Cytiva, a global provider of healthcare solutions, services, and expertise, launched X-platform bioreactors to simplify upstream bioprocessing activities that are used just once. X-platform bioreactors, initially available in 50 and 200 L capacities, come equipped with Figurate automation solution software and can improve process efficiency through ergonomic improvements, production capability, and streamlined supply chain operations.

Key Stakeholders of Market

What does Growth in the Cancer Monoclonal Antibodies Industry Mean for Different Stakeholders?

The cancer monoclonal antibodies industry has multiple players with varied designations and offers multiple opportunities based on their scope of operations.

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Market Segmentation

• By Source Insights (Revenue, USD Bn, 2019 - 2031)
• • Human
  • Chimeric
  • Murine
  • Humanized
• By Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Blood Cancer
  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Liver Cancer
  • Others
• By End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Hospital
  • Clinical and Diagnostic Laboratories
  • Research Institutes
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Abnova Corporation
  • BioGenex
  • Bio-Rad Laboratories, Inc.
  • AMSBIO
  • Elabscience Bionovation Inc.
  • Fortis Life Sciences
  • Creative Diagnostics
  • Rockland Immunochemicals, Inc.
  • GenScript
  • Leinco Technologies
  • Abcam Limited
  • Sino Biological, Inc.