Saturday, 25 May 2024
Monday, 05 Feb 2024 12:00 am

Monoclonal Antibody Therapeutics (mABs) Market is expected to reach US$ 542.80 billion by 2030

Global monoclonal antibody therapeutics market is anticipated to cross USD 542.80 billion by 2030 | Insights on share, size and growth

By The Insight Partners

Monoclonal Antibody Therapeutics (mABs) Market Size During 2022–2030

According to our latest study on "Monoclonal Antibody Therapeutics (mABs) Market Forecast to 2030 – Global Analysis – Product, Application, and Distribution Channel," the market is projected to grow from US$ 192.04 billion in 2022 to US$ 542.80 billion by 2030; it is estimated to record a CAGR of 13.9% during 2022–2030.

The report emphasizes the key factors driving the market and developments by prominent players.  Furthermore, monoclonal antibody therapeutics (mABs) market trends include combination drugs containing mABs.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00003417

Report Segmentation Monoclonal Antibody Therapeutics (mABs) Market

Based on end user, the market is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment held the largest monoclonal antibody therapeutics (mABs) market share in 2022. This segment is expected to record a CAGR of 14.3% during 2022–2030. By application, the autoimmune disease segment held the largest market share of the monoclonal antibody therapeutics (mABs) market in 2022. The cancer segment is anticipated to record the fastest CAGR of 7.5% during the forecast period. In terms of product, the recombinant mABs segment held the largest market share in 2022. The market for the antibody–drug conjugates segment is anticipated to grow at the fastest CAGR of 18.5% during the forecast period.

Market Driver

Monoclonal Antibody (mABs) Therapeutics to Treat Rare Diseases Drives Exponential Market Growth

According to the National Organization for Rare Disorders, Inc. (NORD) report, more than 7,000 rare diseases affect more than 30 million Americans, and almost 8 in 10 people suffering from rare diseases are genetic. Additionally, the Global Genes report further reveals that 1 in 2 patients are diagnosed with a rare disease in children, and about 400 million people suffer from a rare disease worldwide. Therefore, with the rising prevalence of rare diseases worldwide, demand for mABs is high. Most mABs have approval for rare diseases specific to oncology that have the potential for treatment. For example, mABs named "Eculizumab" are used to treat the blood disease "Paroxysmal Nocturnal Hemoglobinuria (PNH)." Therefore, mABs used to treat rare diseases will expand exponentially and improve with time, which will benefit the patients. The aforementioned factors are responsible for influential monoclonal antibody therapeutics (mABs) market growth in the coming years.

Monoclonal Antibody Therapeutics (mABs) Market Trends

Combination Drugs Containing Monoclonal Antibodies (mABs)

Researchers are testing combinations of mABs to address several diseases, including HIV, rabies, and cancer. The mABs, when used in combination, improve the response rates. mAB combinations include antibody–drug conjugates (ADCs) or antibody–protein/peptide conjugates, multispecific formats, antibody fragments, and single-chain antibodies. These mAB combinations expand the therapeutic potential for multiple disease types, strains, and targets. To date, two bispecific mABs "(blinatumomab and emicizumab)" are commercialized in the global market and intended to treat cancer and hemophilia. Also, mABs combination to treat rare diseases are commercialized. The first European Medicine Agency (EMA) and US Food and Drug Administration (USFDA) approval for " bivalent caplacizumab" is one such example of treatment "Thrombotic Thrombocytopenic Purpura."  Therefore, combination drugs of monoclonal antibodies to treat several diseases would gain significant attention in the coming years, thus emerging as a prominent trend in the monoclonal antibody therapeutics (mABs) market.

Monoclonal antibody therapeutics (mABs) Industry Developments and Future Opportunities:

A few strategic developments by leading players operating in the monoclonal antibody therapeutics (mABs) market are listed below:

  • In November 2020, Y-mAbs Therapeutics, Inc. approved "DANYELZA (naxitamab-gqgk) 40mg/10ml". The DANYELZA is indicated in combination with granulocyte-macrophage colony-stimulating factor (GM-CSF) to treat pediatric patients aged 1 year and above suffering from relapsed or refractory high-risk neuroblastoma in the bone or bone marrow who don't have any approved treatments.
  • In October 2023, Salipro announced a partnership with Icosagen to develop mABs for membrane proteins to identify drugs that target specific G protein-coupled receptors (GPCRs) and solute carrier (SLC) transporters.
  • In October 2021, Bristol Myers Squibb announced a partnership with Rockefeller University to develop, manufacture, and commercialize mABs duo that is responsible for neutralizing the SARS-CoV-2 virus for therapy or prevention of COVID-19. The two highly potent antibodies against SARS-CoV-2 discovered by the Rockefeller scientists have the potential to play an important role in treating COVID-19 patients.

Monoclonal Antibody Therapeutics (mABs) Market, by Geography:

The scope of the monoclonal antibody therapeutics (mABs) market report covers North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

In 2022, North America accounted for the largest global monoclonal antibody therapeutics (mABs) market share. Asia Pacific is expected to register the highest CAGR during 2022–2030. Accelerated product approval procedures for mABs therapeutics benefit the market in this country. Until December 2019, 79 therapeutic mABs were approved by the US FDA, according to the statistics revealed by a study published in the BioMed Central journal. Among 79 therapeutic mABs, 30 are intended for cancer treatment. In May 2021, the FDA announced authorized EUA for the use of a new therapeutic mAB—Sotrovimab—intended for outpatient applications to treat people suffering from severe COVID-19 conditions. In February 2022, the FDA announced the issuing of EUA for bebtelovimab produced by Elli Lilly and Company, an example of mAB intended against the Omicron variant. Etesevimab is also an example of therapeutic mABs approved by the US FDA.

GlaxoSmithKline, F.Hoffmann-La-Roche, Bayer AG, Amgen, Novartis, AbbVie, Bristol-Myers Squibb, Janssen Pharmaceutical, Merck KgaA, and AstraZeneca are among the prominent players profiled in the monoclonal antibody therapeutics (mABs) market report. These players focus on new technologies, existing product upgrades, and geographic expansions to meet the growing consumer demand worldwide.

Contact Us
Contact Person: Content Team 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy