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

Regional Analysis

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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.