June 20, 2024

Monoclonal Antibody Therapeutics is the Fastest Growing Segment Fueling Growth of the Global Monoclonal Antibody Therapeutics Market

Monoclonal antibodies (mAbs) are identical and target only a specific protein found on the surface of cancerous cells. They help the immune system to fight against cancer and various diseases effectively with fewer side effects.

The global Monoclonal Antibody Therapeutics Market is estimated to be valued at US$ 72.59 Bn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Leading players are investing heavily in R&D to develop innovative monoclonal antibody therapeutics for various therapeutic areas including oncology, autoimmune disorders, and infectious diseases. For instance, in October 2021, AbbVie received FDA approval for Vraylar (cariprazine), an oral atypical antipsychotic drug for the treatment of depressive episodes associated with bipolar I or II disorder in adults.

Segment Analysis
The monoclonal antibody therapeutics market is segmented based on source, target, indication, end-user, and region. Based on source, the market is segmented into murine, chimeric, humanized, and human. The human segment dominates the market due to its non-immunogenic nature and better efficacy compared to murine antibodies.

Key Takeaways

The Global Monoclonal Antibody Therapeutics Market Size is expected to witness high growth, exhibiting a CAGR of 23% over the forecast period, due to increasing prevalence of chronic diseases such as cancer and autoimmune disorders. The market size for 2023 is US$ 72.59 Bn.

Regional analysis: North America dominates the global monoclonal antibody therapeutics market due to advanced healthcare facilities and presence of major market players in the region. Asia Pacific exhibits the fastest growth during the forecast period owing to rising healthcare spending and large population base suffering from chronic diseases.

Key players: 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.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it