Global Antibody Cocktails Market, by Type (Monovalent Antibody and Polyvalent Antibody), by Indication (COVID-19, Cancer, HIV, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,113.5 million in 2021 and is expected to exhibit a CAGR of 10.9% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of diseases such as cancer and the subsequent efforts by the key players and scientists to develop a safe and effective antibody cocktail treatment option to treat the disease are expected to drive growth of the global antibody cocktails market over the forecast period. For instance, according to the details provided by the World Health Organization on February 3, 2022, cancer was a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths globally.
Global Antibody Cocktails Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economies of various regions across the globe in three main ways: 1) by directly affecting production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries, such as Thailand, Indonesia, and Singapore, are facing problems with regard to the transportation and distribution of healthcare products.
However, with the current COVID-19 pandemic situation, the key players have started to conduct research activities to develop a safe and effective treatment option for COVID-19 infection. Amidst this, COVID antibody cocktail therapy was one of the few options that emerged as a promising means for COVID defense, which is expected to positively impact the global antibody cocktails market. Because of the various advantages provided by the combination or cocktail of two antibodies, such as minimizing the risk of drug-resistant virus strains, reducing the need for medical oxygen, and other costly medications, as well as the necessity for hospitalization, this is expected to drive the market growth over the forecast period.
Moreover, the key players in the market are focusing on developing and receiving regulatory approvals for antibody cocktail therapies, which will further drive the market growth over the forecast period. For instance, in February 2021, Lilly, a pharmaceutical company, received emergency use authorization from the U.S. Food and Drug Administration, for its antibody cocktail, a combination of antibodies bamlanivimab and etesevimab to treat mild to moderate COVID-19 in patients aged 12 and older who are at high risk for severe COVID-19 or hospitalization. Thus, all these factors are expected to positively impact the global antibody cocktails market.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Antibody Cocktails Market”- Forecast to 2028, Global Antibody Cocktails Market, by Type (Monovalent Antibody and Polyvalent Antibody), by Indication (COVID-19, Cancer, HIV, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing adoption of inorganic strategies such as agreements and marketing by the key players operating in the market is expected to aid in growth of the global antibody cocktails market over the forecast period. For instance, in December 2020, Chugai Pharmaceutical Co., Ltd., a drug manufacturer, announced that it had entered into a license agreement with F. Hoffmann-La Roche Ltd., a multinational healthcare company for the development and commercialization of the antibody cocktail of casirivimab and imdevimab (formerly known as REGN-COV2) for COVID-19, in Japan.
Key Takeaways of the Global Antibody Cocktails Market: