Cancer Monoclonal Antibodies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cancer Monoclonal Antibodies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cancer monoclonal antibodies market size reached US$ 44.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.

A cancer monoclonal antibody refers to a laboratory-generated molecule that is engineered to mimic the immune system’s attack on cancer cells. It can bind to antigens present on the surface of cancer cells and flag them to trigger the destruction of cell membranes, block cell growth and immune system inhibitors. It can also deliver treatment radiations directly to the cancer cells to neutralize or destroy them. Some of the most commonly used monoclonal antibodies include murine, chimeric and humanized antibodies that are employed in the treatment of cancer in the blood, liver, brain and breast.

The increasing prevalence of cancer across the globe is one of the key factors driving the growth of the market. In comparison to traditionally used non-targeted therapies, such as chemotherapy, monoclonal antibodies have reduced side-effects on the patient’s body and can also be used for the treatment of autoimmune and inflammatory diseases. Furthermore, widespread adoption of cost-efficient biosimilar monoclonal antibodies by medical practitioners and oncologists is also providing a boost to the market growth. With technological advancements in gene sequencing and target gene selection, these antibodies can be modified to have similar properties to that of a pharmaceutical drug. They have the same efficiency but are available at reduced prices than the original medicine, which aids in enhancing the cost-efficiency of the treatment, thereby contributing to the increasing demand for the product across the globe. Other factors, including rising preference for personalized medicines, extensive research and development (R&D) activities and significant improvements in the healthcare infrastructure, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cancer monoclonal antibodies market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on antibody type, medication type, end-user and application.

Breakup by Antibody Type:

Murine Antibodies
Chimeric Antibodies
Humanized Antibodies
Others

Breakup by Medication Type:

Bevacizumab (Avastin)
Rituximab (Rituxan)
Trastuzumab (Herceptin)
Cetuximab (Erbitux)
Panitumumab (Vectibix)
Others

Breakup by Application:

Breast Cancer
Blood Cancer
Liver Cancer
Brain Cancer
Colorectal Cancer
Others

Breakup by End-User:

Hospitals and Clinics
Pharmacies
Research Laboratories
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Genmab A/S, GlaxoSmithKline Plc., Johnson & Johnson, Merck & Co. Inc., Novartis AG, Pfizer Inc., Roche Holding AG, Seattle Genetics Inc., Spectrum Pharmaceuticals Inc., etc.

Key Questions Answered in This Report:
How has the global cancer monoclonal antibodies market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global cancer monoclonal antibodies market?
What is the breakup of the market based on the antibody type?
What is the breakup of the market based on the medication type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global cancer monoclonal antibodies market and who are the key players?
What is the degree of competition in the industry?