According to a new report published by Progressive Markets Report, titled,"Monoclonal Antibody Market: Global Opportunity Analysis and Industry Forecast, 2014 - 2025,"the global monoclonal antibody market was valued at $76,899 million in 2014 and is projected to reach $214,922 million by 2025, growing at a CAGR of 9.8% from 2018 to 2025. Monoclonal antibodies are proteins that are artificially produced by clones derived from a single parent cell.
These monoclonal antibodies are mainly derived from human sources and have a high affinity to bind with a specific site of protein. They are produced in large quantities in laboratories and are mainly used in the treatment of cancer and autoimmune diseases.
The factors that drive the growth of the global monoclonal antibody market are high prevalence of cancer, inflammatory and autoimmune diseases across the globe, rise in demand for advance therapeutics, rise in chronic disease, and surge in geriatric population across the globe. However, high cost of monoclonal antibodies and adverse effects associated with the use of monoclonal antibodies are expected to impede the market growth. In addition, high market potential in the untapped emerging economies and potential monoclonal antibodies in pipeline are expected to provide lucrative opportunities for the growth of the global market during the forecast period.
By product type, the humanized & human segment accounted for more than two-third of the global monoclonal antibody market in 2017. Lower immunogenicity, cost-effectiveness, and lesser adverse effects are the key drivers of humanized & human segment globally. Furthermore, the cancer segment is anticipated to grow at the fastest rate over the forecast period due to strong presence of pipeline drugs, surge in prevalence of cancer, and rise in demand of ideal therapeutics for treatment of cancer.
The report highlights the overview, business performance, key strategic moves & developments, and market share with respect to the key players operating in the market. The major players studied in the report include Amgen Inc., AstraZeneca plc, F. Hoffmann-La Roche AG, AbbVie Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., Johnson & Johnson, Novartis AG, Pfizer Inc., and Sanofi S.A.