CANCER MONOCLONAL ANTIBODIES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global cancer monoclonal antibodies market is estimated to be valued at USD 96.68 Bn in 2024 and is expected to exhibit a CAGR of 15.4% during the forecast period (2024-2031). Cancer monoclonal antibodies are artificially created proteins that have the capability to identify and bind themselves to cancer cells. These antibodies are commercially developed by pharmaceutical companies to identify and overcome cancer cells in the human body without harming normal cells. They work by attaching themselves to specific molecules found on cancer cell surfaces and helping the body's own immune system to recognize and attack those cancer cells selectively. The global cancer monoclonal antibodies market has witnessed tremendous growth in recent years due to the increasing prevalence of cancer, ongoing research, and development leading to novel antibody drugs and the growing geriatric population which is more prone to cancer.
Market Dynamics:
The global cancer monoclonal antibodies market growth is driven by the rising incidence of cancer worldwide owing to factors like increasing tobacco consumption, exposure to carcinogenic substances, changing lifestyle patterns, and growing elderly population. in May 2022, as per the WHO estimates, cancer burden is expected to reach 27 million new cases and 16.3 million cancer deaths by 2040. Another major market growth driver is the ongoing research and development leading to the discovery of novel monoclonal antibody drugs and combination therapies for various cancer types which has improved patient outcomes. However, high costs associated with monoclonal antibody drugs acts as a major restraint for widespread adoption. Also, stringent regulatory policies and lengthy product approval process adds to the challenges. The market sees lucrative opportunities arising from emerging economies with growing healthcare expenditures.
Key Features of the Study:
- This report provides in-depth analysis of the global cancer monoclonal antibodies market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global cancer monoclonal antibodies market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Abnova Corporation, BioGenex, Bio-Rad Laboratories, Inc., AMSBIO, Elabscience Bionovation Inc., Fortis Life Sciences, Creative Diagnostics, Rockland Immunochemicals, Inc., GenScript, Leinco Technologies, Abcam Limited, and Sino Biological, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global cancer monoclonal antibodies market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cancer monoclonal antibodies market
Market Segmentation
Market Segmentation
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