Monoclonal antibody therapeutics are antibodies that are produced by identical immune cells which are clones of a single parent cell. They are highly specific and able to recognize and bind to particular antigens, which enable targeting of cell surface proteins.
The global Monoclonal Antibody Therapeutics Market Size is estimated to be valued at US$ 72.59 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Monoclonal antibody therapeutics are antibodies that are produced by identical immune cells which are clones of a single parent cell. They are highly specific and able to recognize and bind to particular antigens, which enable targeting of cell surface proteins. The specificity of monoclonals has enabled development of immunotherapy drugs used for treating cancer, autoimmune disorders, infectious diseases and other conditions. The growing use of monoclonal antibodies as a treatment option for various medical conditions such as cancer and autoimmune disorders is expected to drive the monoclonal antibody therapeutics market over the forecast period.
One of the key trends in the market is increasing investment in research and development of immunooncology monoclonal antibody therapies. Immunotherapy has revolutionized cancer treatment by harnessing the power of patient’s own immune system to fight cancer. Monoclonal antibodies are one of the key components of immunotherapy. Currently, several monoclonal antibodies used for immunooncology indications are in late stage clinical trials which if approved, are expected to drive substantial market revenue. Further, increasing prevalence of chronic diseases such as cancer and rising healthcare expenditure is also expected to boost the monoclonal antibody therapeutics market during the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to requirements of high R&D investment and approval process for regulatory.
Bargaining power of buyers: The bargaining power of buyers is low due to limited alternatives and high treatment costs associated with diseases.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to requirement of specialized raw materials and equipment for manufacturing.
Threat of new substitutes: The threat of new substitutes is low as monoclonal antibody therapies provide highly targeted treatment over other traditional therapies.
Competitive rivalry: intense due to large number of players operating in the market.
Key Takeaways
The global monoclonal antibody therapeutics market size is expected to witness high growth, exhibiting 12% CAGR over the forecast period, due to increasing prevalence of chronic diseases.
On the basis of region, North America is expected to dominate the global monoclonal antibody therapeutics market owing to presence of major players, robust healthcare infrastructure, and growing adoption of monoclonal antibodies in the region. Europe and Asia Pacific are also estimated to witness high growth.
Key players operating in the monoclonal antibody therapeutics market are 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.
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