Market Challenges And Opportunities

Global Antibodies Market – Driver

Increase in inorganic strategies

Increasing inorganic strategies such as collaboration by the key market players is expected to drive the global antibodies market over the forecast period. For instance, in September 2020, Eli Lilly and Company, a pharmaceutical company and Amgen, an U.S. based multinational biopharmaceutical company, announced a global antibody manufacturing collaboration, to significantly increase the supply capacity available for Lilly's potential COVID-19 therapies.

Global Antibodies Market: Restraints

Side effects associated with the antibodies

Use of antibodies may lead to some side effects such as serum sickness, acute anaphylaxis, and specific target-related adverse effects, which is also expected to hinder the market growth. To overcome the adverse effects of the drugs and antibodies, regulatory authorities should strictly monitor the products.

Global Antibodies Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The COVID-19 affected the antibodies market positively as demand for the antibodies increased. For instance, in January 2022, a data was published by the Biomed Central, an open access publisher, according to that, The development and approval of vaccines and nAbs against COVID-19 have happened incredibly quickly due to collaborative efforts among the global scientific community. The U.S. government has placed a pre-order for 100 million doses of Pfizer's BNT162b2 mRNA vaccine at a cost of $1.95 billion as early as July 22, 2020, and after one year, it has already placed orders for a total of 500 million doses.

Global Antibodies Market – Restraints & Challenges

Figure 2. Global Antibodies Market Value (US$ Million), By Region, 2023