Monoclonal Antibodies Market: Current Analysis and Forecast (2022-2028)
Monoclonal antibodies are laboratory-produced proteins that are used for boosting the immune system. These are utilized for the management of several diseases, including cancer, autoimmune diseases, viral disease treatment, and others. The main advantage of using monoclonal antibodies in treating these diseases are they are taken from a biological source and can produce antibodies in the long term. To date, more than 100 monoclonal antibodies have been granted approval such as Rituximab, Herceptin, Jemperli, and others. The monoclonal antibodies market is growing at a tremendous rate owing to surge in the prevalence of cancer, Alzheimer, Parkinson, and other diseases.
The Monoclonal Antibodies Market is expected to grow at a strong CAGR of 9% during the forecast period owing to the rising pharmaceutical investment for the development of monoclonal antibodies. Pharmaceutical companies have adopted strategic alliances to maintain a competitive edge in the global market. For instance, in March 2023, Simcere Pharmaceutical Group in collaboration with Merck is evaluating the combination of SIM0235, a potential first-in-class humanized anti-tumor necrosis factor receptor 2 (TNFR2) monoclonal antibody, and Keytruda in patients with advanced solid tumors and cutaneous T-cell lymphoma (CTCL).
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