Monoclonal Antibody Therapy Market
Growth Factors of Monoclonal Antibody Therapy Market
The monoclonal antibody therapy market size was valued at USD 230.87 billion in 2023, and the market is now projected to grow from USD 263.28 billion in 2024 to USD 792.37 billion by 2032, exhibiting a CAGR of 14.8% during the forecast period of 2024-2032.
The COVID-19 pandemic boosted several R&D activities in monoclonal antibodies (mAbs) and they experienced tremendous progress. Such example includes in November, 2020 the U. S FDA authorized the use of Regeneron Pharmaceuticals mAbs casirivimab and imdevimab for Covid 19 treatment. Such developments elevated the market sales across the world and they will further propel during 2024-2032 by the innovations in mAbs therapies.
Monoclonal antibody therapy is on an upward trend in the treatment of chronic diseases such as cancer through herceptin, humira among others. To this end, it has attracted serious research funding by the big pharmaceutical companies and various governments. For instance, in August, 2023, the US Department of Health and Human Services granted about $1. 4 billion from Project NextGen in the development of new monoclonal antibody therapies amongst others.
The shifting emphasis on medicinal’s discovery has resulted in high levels of partnership and research expenditure in the mAb development sector. To this end, newcomers are using these partnerships as a vantage point to enter a rather saturated market. For instance, in February 2024, OSE Immunotherapeutic SA together with AbbVie Inc agreed to collaborate in the creation of mAb therapy for the chronic and severe inflammation treatment, the drug is in preclinical stage now.
Comprehensive Analysis of Monoclonal Antibody Therapy Market
The monoclonal antibody therapy market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, by application analysis, and distribution channel analysis. By type analysis incudes human mAb, humanized mAb, chimeric mAb, and murine mAb. By application analysis incudes cancer, autoimmune diseases, and others. By distribution channel analysis incudes hospital pharmacy, retail pharmacy, and online pharmacy.
The North America region lead the monoclonal antibody therapy market share by benefitting a market size of USD 110.62 billion in 2023 due to the increasing prevalence of chronic diseases.
Top players in the market have their responsibility of healthcare industrial prospectus growth of the retailing industry and the markets. These players include, AbbVie Inc., Merck & Co., Inc., F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Daiichi Sankyo Company, Limited, Novartis AG, AstraZeneca, Amgen Inc. these market players provide a level-playing competitive landscape.
In November 2023, Almirall S.A.’s EBGLYSS (lebrikizumab) received European Commission approval for treating moderate-to-severe atopic dermatitis.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 14.8% from 2024-2032
Unit Value (USD Billion)
Segmentation By Type
- Human mAb
- Humanized mAb
- Chimeric mAb
- Murine mAb
By Application
- Cancer
- Autoimmune Diseases
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Geography
- North America (Type, Application, Distribution Channel, and Country)
- U.S.
- Canada
- Europe (Type, Application, Distribution Channel, and Country/Sub-region)
- U.K.
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
- Asia-Pacific (Type, Application, Distribution Channel, and Country/Sub-region)
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Latin America (Type, Application, Distribution Channel, and Country/Sub-region)
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (Type, Application, Distribution Channel, and Country/Sub-region)
- GCC
- South Africa
- Rest of the Middle East & Africa
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