Monoclonal Antibodies Market Size By Type (Fully Human, Humanized, Chimeric), By Application (Oncology, Autoimmune Diseases, Infectious Diseases), By End-use (Hospitals, Specialty Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Com

Monoclonal Antibodies Market Size By Type (Fully Human, Humanized, Chimeric), By Application (Oncology, Autoimmune Diseases, Infectious Diseases), By End-use (Hospitals, Specialty Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The monoclonal antibodies market would expand at a progressive CAGR through 2028 owing to the rising incidence of infectious, chronic, and rare diseases, including cancer, across the globe. As per the WHO, cancer is one of the leading causes of deaths worldwide, having contributed to more than 10 million deaths in 2020 alone.

Recently, monoclonal antibodies were considered to be the most promising treatment for mild to moderate COVID-19. Imperative to note that the U.S. Food and Drug Administration authorized different monoclonal antibodies to treat COVID-19 pandemic in 2020.

The overall monoclonal antibodies industry landscape is segmented into types, application, end-use, and regional landscape.

In terms of type, the monoclonal antibodies market is divided into fully human, humanized, chimeric, and others. Out of these, the others segment is projected to grow at an appreciable pace through 2028. The market value for the segment stood at around $10.5 billion in 2021. This can be attributed to the introduction to advanced technologies, constant research and development activities to innovate newer technologies, and development of artificial antibodies.

Based on the application spectrum, the industry is divided into oncology, autoimmune diseases, infectious diseases, and others. As per industry analysis, the others segment would grow at a CAGR of 13.3% over the forecast period owing to an increasing number of development activities to detect potential therapeutic applications. In addition, a robust product pipeline to present advanced therapies for areas like migraine and transplant rejection would as well contribute to the market expansion.

With respect to end-use, the monoclonal antibodies market from the hospitals segment accounted for a business share of 40% in 2021. The segment is projected to expand at a notable rate owing to the ongoing expansion of hospital settings, extensive marketing efforts by companies to educate experts about newly introduced therapies, and increasing awareness regarding advanced treatment among professionals.

From a regional perspective, the LATAM monoclonal antibodies industry is projected to witness substantial gains through the analysis timeframe. The regional growth is being propelled by the mounting accessibility of monoclonal antibodies therapeutics, and robust presence of leading industry players in the continent.

Additionally, a rising number of product approvals in developing economies across the region, including Brazil, would augment market growth. Overall, the LATAM monoclonal antibodies market size to expected to grow at a CAGR of 13.1% through the analysis timeline.

Meanwhile, MEA monoclonal antibodies market size is expected to expand profusely in the coming years. This expansion can be accounted to the growing prevalence of infectious and rare diseases in the region, and the subsequent rise in investments towards the healthcare infrastructure, especially in countries such as United Arab Emirates, and Saudi Arabia. A latest study estimated that there are nearly 25 million people suffering from a rare disease in the Middle East.