Global Monoclonal Antibodies 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$ 143.5 billion in 2020 and is expected to exhibit a CAGR of 14.4% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Rising adoption of strategies such as acquisition, collaboration, and license agreement by the market players is expected to bolster the monoclonal antibodies market growth over the forecast period. For instance, in 2018, F. Hoffman-La Roche AG and Kymab Group Ltd entered into a clinical trial agreement to evaluate KY1044 (product of Kymab Group), a human monoclonal antibody, for the treatment of solid tumors. Also, in 2018, Novartis AG entered into a partnership with MorphoSys and Galapagos for the commercialization and development of human immunoglobulin G1 (IgG1) monoclonal antibody targeting interleukin (IL)-17C.
Increasing prevalence of chronic diseases such as cancer is a major factor that is expected to fuel the monoclonal antibodies market growth over the forecast period. For instance, according to the World Cancer Research Fund International’s report, in 2018, breast cancer accounted for the second highest number of cancer cases worldwide, accounting for 2,088,849 new cases worldwide in 2018. Also, according to the National Cancer Institute, 2016, the number of new cancer cases per year is expected to increase to 23.6 million by 2030, worldwide.
Global Monoclonal Antibodies Market – Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in over 37.1 million infected individuals worldwide as of 11th October, 2020.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets.
Clinical trial is rising drastically due to the Covid-19 outbreak. Many market players are collaborating for research and development, in order to develop new monoclonal antibody therapies to address the Covid-19 outbreak. This is expected to drive the market growth over the forecast period. In April 2020, GlaxoSmithKline plc collaborated with Vir Biotechnology, Inc. for the development of coronavirus solutions to combat COVID-19. In the agreement, Vir’s proprietary monoclonal antibody platform technology is utilized to identify new anti-viral antibodies, which can be used as therapeutic or preventative options to address the current COVID-19 pandemic. In June 2020, AbbVie, Harbour BioMed, Utrecht University, and Erasmus Medical Center announced a collaboration in order to develop a monoclonal antibody therapeutic to prevent and treat COVID-19, caused by the SARS-CoV-2 virus.
Browse 37 Market Data Tables and 26 Figures spread through 335 Pages and in-depth TOC on “Monoclonal Antibodies 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), - Global Forecast to 2027”
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Increasing product launches and regulatory support for the treatment of rare diseases is expected to support growth of the monoclonal antibodies market. Several companies have received the U.S FDA approvals for drugs used for the treatment of diseases ranging from cancers to rare diseases. For instance, in August 2018, Kyowa Hakko Kirin Co., Ltd received the U.S. FDA approval for Poteligeo (mogamulizumab-kpkc) for the treatment of adult patients with relapsed or refractory mycosis fungoides (MF) or Sézary syndrome (SS) after at least one prior systemic therapy. Moreover, in August 2018, Shire plc. received the U.S. FDA approval for TAKHZYRO (lanadelumab-flyo) injection for a rare disease, hereditary angioedema (HAE), in patients 12 years of age and older. Increasing focus of key players on developing monoclonal antibodies for various cancers and rare diseases is expected to boost the global monoclonal antibodies market growth over the forecast period.
Key Takeaways of the Global Monoclonal Antibodies Market: