Global Antibodies Market, by Drug Type (Monoclonal antibodies, Polyclonal antibodies, Antibody-drug complexes (ADCs), by Disease Indication (CNS Disorders, Cardiovascular, Cancer, Autoimmune Disorders, COVID-19, Others) by End User (Hospitals, Long-term Care Facilities, Research institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,24,083.5 Million in 2023 and is expected to exhibit a CAGR of 12.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players in the market are focusing on the adoption of inorganic growth strategies, such as collaborations to expand their product portfolio, which is expected to drive market growth over the forecast period. For instance, in July 2021, GlaxoSmithKline plc, a pharmaceutical company, announced a strategic global collaboration for the development and commercialization of two clinical-stage, which is monoclonal antibodies (AL001 and AL101) designed to elevate progranulin (PGRN) levels. PGRN is a key regulator of immune activity in the brain with genetic links to multiple neurodegenerative disorders
Global Antibodies Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
For instance, in April 2022, data was published by National Center for Biotechnology Information, that, benefits derived from monoclonal antibody therapies appear to be a reduction in viral load, hospitalizations, and death. There is an unpublished study for sotrovimab, which also shows a reduction in hospitalization and death. Researchers found a reduction in combined hospitalizations and death with 1% in the treatment group and 7% in the placebo group.
Global Antibodies Market: Key Developments
Increasing approval by the regulatory authorities is expected to drive the global antibodies market over the forecast period. For instance, in August 2020, Genentech, a member of the Roche Group, announced that the U.S. Food and Drug Administration (FDA) has approved Enspryng, as the first and only subcutaneous treatment for adults living with anti-aquaporin antibody-positive neuromyelitis optica spectrum disorder (NMOSD).
Browse 36 Market Data Tables and 27 Figures spread through 170 Pages and in-depth TOC on “Global Antibodies Market”- Forecast to 2030, Global Antibodies Market, by Drug Type (Monoclonal antibodies, Polyclonal antibodies, Antibody-drug complexes (ADCs), by Disease Indication (CNS Disorders, Cardiovascular, Cancer, Autoimmune Disorders, COVID-19, Others) by End User (Hospitals, Long-term Care Facilities, Research institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/antibodies-market-2629
Key Takeaways of the Global Antibodies Market:
- The global antibodies market is expected to exhibit a CAGR of 12.9% during the forecast period due to the increasing emergence of COVID-19. For instance, in April 2022, the Centers for Medicare & Medicaid Services (CMS), released a national policy for coverage of aducanumab (brand name Aduhelm, and any future monoclonal antibodies directed against amyloid approved by the FDA, with an indication that the antibody can be used in the treatment of Alzheimer’s disease.
- Among drug type, the monoclonal antibodies segment is expected to hold a dominant position in the antibodies market over the forecast period.
- Among region, North America is expected to be the dominant region in the global antibodies market, over the forecast period.
- Major players operating in the global antibodies market include Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd.
