Global Monoclonal Antibody Therapeutics Market, by Source (Human, Chimeric, Murine, and Humanized), by Application (Cancer, Autoimmune Disease, Hematological Disease, Infectious Disease, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 205.39 billion in 2023 and is expected to exhibit a CAGR of 12.69% 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 organic growth strategies, such as product launches to expand their product portfolio, which is expected to drive market growth over the forecast period. For instance, in February 2022, Eli Lilly and Company, a company engaged in the discovery, development, and marketing of human healthcare products, announced that the U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for bebtelovimab, an antibody that demonstrates neutralization against the Omicron variant for the treatment of mild-to-moderate COVID-19.
Global Monoclonal Antibody Therapeutics 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.
The 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.
The COVID-19 had a positive impact on the global monoclonal antibody therapeutics market. For instance, in January 2022, GSK plc, a healthcare company and Vir Biotechnology, a commercial-stage immunology company announced that the U.S. Government will purchase an additional 600,000 doses of sotrovimab, an investigational monoclonal antibody for the early treatment of COVID-19, enabling further nationwide access to sotrovimab for patients.
Global Monoclonal Antibody Therapeutics Market: Key Developments
Increasing launch of monoclonal antibody therapeutics for the treatment of various autoimmune and infectious diseases is expected to aid in the growth of the global monoclonal antibody therapeutics market in the forecast period
For instance, in September 2020, Gilead Sciences, Inc., a research-based biopharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation for magrolimab, a first-in-class, investigational anti-CD47 monoclonal antibody for the treatment of newly diagnosed myelodysplastic syndrome (MDS).
In February 2022, F. Hoffmann-La Roche Ltd, a biotechnology company that develops drugs and diagnostics to treat major diseases, announced that the World Health Organization (WHO) has granted prequalification to its intravenous (IV) dose of Actemra/RoActemra (tocilizumab) to treat severe or critical COVID-19 patients.
In February 2022, the U.S. Department of Health and Human Services (HHS) Secretary Xavier Becerra, announced the purchase of 600,000 treatment courses of a new monoclonal antibody treatment that data shows works against the Omicron variant by the federal government.
In May 2022, F. Hoffmann-La Roche Ltd, a biotechnology company that develops drugs and diagnostics to treat major diseases, announced the launch of antibody drug PHESGO for treatment of breast cancer in India.
Browse 37 Market Data Tables and 26 Figures spread through 335 Pages and in-depth TOC on “Global Monoclonal Antibody Therapeutics Market”- Forecast to 2030, Global Monoclonal Antibody Therapeutics Market, by Source (Human, Chimeric, Murine, and Humanized), by Application (Cancer, Autoimmune Disease, Hematological Disease, Infectious Disease, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), 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/monoclonal-antibody-therapeutics-market-2403
Key Takeaways of the Global Monoclonal Antibody Therapeutics Market:
- The global monoclonal antibody therapeutics market is expected to exhibit a CAGR of 6% during the forecast period due to the increasing emergence of COVID-19. For instance, in November 2020, Regeneron Pharmaceuticals Inc., a leading biotechnology company, announced that the antibody mixture casirivimab and imdevimab administered together (formerly known as REGN-COV2 or REGEN-COV2), a therapy, which was being investigated for use in COVID-19, has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA).
- Among Application, cancer segment is estimated to hold a dominant position in the global monoclonal antibody therapeutics market over the forecast period.For instance, in March 2022, Sanofi, a multinational pharmaceutical and healthcare company and Seagen Inc., a biotechnology company, announced an exclusive collaboration agreement to design, develop, and commercialize antibody-drug conjugates (ADCs) for up to three cancer targets. The collaboration will utilize Sanofi’s proprietary monoclonal antibody (mAb) technology and Seagen’s proprietary ADC technology. ADCs are antibodies engineered to deliver potent anti-cancer drugs to tumor cells expressing a specific protein.
- Among region, North America is expected to be the dominant region in the global monoclonal antibody therapeutics market, owing to increasing prevalence of autoimmune diseases, which is expected to drive the segment growth over the forecast period. For instance, in November 2020, according to the Autoimmune Registry Inc., a non-profit organization that provides a hub for research, statistics, and patient data on all autoimmune diseases, 15 to 30 million individuals were suffering from autoimmune diseases in the year 2019. Growing adoption of novel mAb therapeutics in treatment of several autoimmune disorders will offer substantial growth opportunities to the segment.
- Major players operating in the global monoclonal antibody therapeutics market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, Merck KGaA, GSK plc., AbbVie Inc., Bristol-Myers Squibb Company, Regeneron Pharmaceuticals Inc., AstraZeneca, AbCellera Biologics Inc., Molecular Depot LLC, DAIICHI SANKYO COMPANY, LIMITED., Abbott, Biogen, Thermo Fisher Scientific, Inc., Cell Signaling Technology, Inc, Intas Pharmaceuticals Ltd., Avantor Inc., UCB S.A., Merus N.V., GENEXTGENOMICS.COM, Biogenuix
