The exclusive research report on the Global Monoclonal Antibody Therapy Market 2020 examines the market in detail along with focusing on significant market dynamics for the key players operating in the market.
Monoclonal Antibody Therapy Market Analysis
Market Research Future (MRFR) report on the global monoclonal antibody therapy market (2016-2022) studies the COVID-19 analysis of the critical factors that influence the growth of the market. The study examines current competitors and global market trends, offering a detailed summary of both growth factors and constraints, which may have a positive or negative effect on the industry’s outlook during the forecast period.
Monoclonal antibodies are laboratory-produced antibodies that are structured to replace natural antibodies that may strengthen or imitate the immune system’s attack on harmful cells. Monoclonal antibody therapy is a form of immunotherapy that allows monoclonal antibodies to bind directly to certain types of cells and proteins that activate the immune system to attack these cells. Monoclonal antibodies specific to any extracellular target is currently being developed, and work is being conducted to expand the spectrum of application of monoclonal antibodies in various areas of medical science.
Monoclonal Antibody Therapy Market Dynamics
The global market for monoclonal antibody therapy is primarily fueled by the rising prevalence of cancer and other chronic diseases, combined with an increase in R&D activities in genomics. As per the World Health Organization, the global burden of cancer was projected to expand to 18.1 million new cases and 9.6 million deaths in 2018. In addition, increased drug approvals and the introduction of novel monoclonal antibodies for various disease treatments such as cancer, vigorous research and development of monoclonal antibodies for multiple diseases and innovations such as the advent of mammalian cell culture, method and formulation technology are expected to provide substantial market opportunities. In 2017, 47 monoclonal antibody products were approved for treating a wide variety of diseases in the US and Europe.
However, higher costs and stringent regulatory measures resulting in lengthy approval procedures may limit the market growth.
Monoclonal Antibody Therapy Market Segmentation
The global market for monoclonal antibody therapy has been segmented into source, application, and end-user.
Based on the source, the global market for monoclonal antibody therapy has been segmented into recombinant, chimeric, humanized, human, and others.
Based on application, the global market for monoclonal antibody therapy has been segmented into diagnostic tests, analytical and chemical uses, cancer treatment, hematological disorders, autoimmune diseases, and others.
Based on end-users, the global market for monoclonal antibody therapy has been segmented into hospitals, clinics, research laboratories, and others.
Monoclonal Antibody Therapy Market Regional Analysis
By region, the global market for monoclonal antibody therapy has been segmented into North America, Europe, Asia Pacific, and the Middle East & Africa.
North America is the largest market in the world. In this region, the market is increasing due to the presence of major manufacturers, technological advances, and strong research and development (R&D) in the medical sector. The USA and Canada are the top country-specific markets in this region. Many major market players are based in this region, especially in the USA. Throughout South America, the demand is smaller than in North America, as this region has fewer modern medical facilities. Argentina and Brazil are the two strongest economies that can become ideal markets.
Europe is the second-largest regional market and is anticipated to grow during the forecast period. The factors underpinning this market’s growth include a high population density, a well-established healthcare system, a high level of technological innovation second only to North America, and the presence of several key market players. The largest country-specific markets in this area are the strongest economies known as France, Germany, and the United Kingdom, followed by the rest of Europe.
The Asia Pacific is another major region, as the healthcare industry is expanding in countries like China and India. Modern medical services and rapid technological advances are available in Japan. The rural market in countries like China and India is still untapped, which, due to the high population density, can be a lucrative market once it has been tapped. Several leading market players are also based in this area. The Asia Pacific region is expected to emerge as the fastest rising regional market during the forecast period.
The Middle East & Africa has the least Monoclonal Antibody Therapy Market share due to developing countries, lack of awareness, lack of education, low quality of medical services, and lack of healthcare facilities.
Monoclonal Antibody Therapy Market Key Players
Some of the key players identified by MRFR in this monoclonal antibody therapy market are AbbVie Inc., Amgen Inc., Bayer AG, Biogen Inc., Bristol – Myers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA, GenScript, GlaxoSmithKline Plc., Johnson & Johnson, Pfizer Inc., Sanofi, Novartis AG, Sigma-Aldrich Co. LLC, and others.
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