North America Monoclonal Antibodies Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Human, Humanized, Chimeric, and Murine), Production Method (In-Vitro, and In-Vivo), Indication (Cancer, Autoimmune Diseases, Infectious Diseases

North America Monoclonal Antibodies Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Human, Humanized, Chimeric, and Murine), Production Method (In-Vitro, and In-Vivo), Indication (Cancer, Autoimmune Diseases, Infectious Diseases, Inflammatory Diseases, Microbial Diseases, and Others), Application (Therapeutic Applications, Diagnostic Applications, and Research Applications), End-User (Hospitals, Research Institutes, and Others)

The North America monoclonal antibodies market is expected to grow from US$ 54,629.4 million in 2021 to US$ 1,20,713.2 million by 2028; it is estimated to grow at a CAGR of 12.0% from 2021 to 2028. The coverage of mAB products for treating COVID-19 patients is a contributing factor for the growth of this market. Medicare pays for the administration of monoclonal antibody products for treating COVID-19 patients. For example, starting from May 2021, Medicare paid ~US$ 450 in most settings or ~US$ 750 in the beneficiary's home or residence responsible for the administration of certain monoclonal antibody products for treating COVID-19 patients. Furthermore, the National Institute for Health and Care Excellence (NICE) updates managing COVID-19 guidelines with monoclonal antibody recommendations. For records, in October 2021, the new advice recommended offering a combination of monoclonal antibodies, namely casirivimab and imdevimab for treating hospitalized COVID-19 patients aged 12 and above. Moreover, these products are licensed to prevent and treat COVID-19 infection.

Based on source, the monoclonal antibodies (mAbs) market is segmented into human, humanized, chimeric, and murine. In 2020, the human segment accounted for the highest share; it is expected to grow at a CAGR of 12.7% during the forecast period.

Favorable government regulations had authorized monoclonal antibodies after the onset of the COVID-19 pandemic in the North American market. For instance, in December 2021, the US Food and Drug Administration (FDA) announced Emergency Use Authorization (EUA) for AstraZeneca’s Evusheld (tixagevimab co-packaged with cilgavimab and administered together) intended for the pre-exposure prevention of adults and pediatric individuals from COVID-19 infection. Monoclonal antibodies are laboratory-manufactured proteins involved in mimicking the immune system's ability to fight off harmful pathogens, such as viruses. Therefore, Tixagevimab and cilgavimab are long-acting monoclonal antibodies designed for spike protein of SARS-CoV-2. Moreover, favorable funding for the development of biologics boosted the market growth for monoclonal antibodies. For example, the US International Development Finance Corporation (DFC) announced a furnishing of US$ 50 million to Biological E Limited for increasing COVID-19 vaccine manufacturing capacity. Also, favorable policy of product approvals for biologics by the FDA positively impacts the market growth.

The overall North America monoclonal antibodies market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the North America monoclonal antibodies market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the North America monoclonal antibodies market. Companies adopt a few strategies, such as mergers and acquisitions, which promote market growth. Novartis AG, Pfizer Inc., GlaxoSmithKline plc., Amgen Inc., DAIICHI SANKYO COMPANY, LIMITED, F. Hoffmann-La Roche Ltd., AstraZeneca, Eli Lilly and Company, Bayer AG, and Bristol-Myers Squibb Company are among the major players operating in the market in this region.

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