Monoclonal Antibody Therapy Market by Type (Human mAb, Chimeric mAb, Humanized mAb and Murine mAb), by Disease Area (Cancer, Autoimmune Diseases, Inflammatory Diseases and Infectious Diseases), by Production Type (In Vitro and In Vivo), by End-user (Hospitals, Research Clinics, and Others) - Global Outlook & Forecast 2022-2030
According to the deep-dive market assessment study conducted by Growth+ Reports, the global monoclonal antibody therapy market was pegged at ~US$ 175.5 billion in 2021. The market is expected to witness a CAGR of 12.9% from 2022 to 2030.
One of the factors propelling the monoclonal antibody therapy market is the rising incidence of cancer. Governments are working to lower the annual healthcare costs in economies that are caused by the chronic ailment known as cancer. As a result, the market for biologics is growing, which presents a lucrative potential for the biopharmaceutical sector. The rapid regulatory approval of monoclonal antibodies is facilitating the commercialization of numerous novel treatments. This element contributes to the market expansion for monoclonal antibody therapy. Their preference is also growing as monoclonal antibody therapy emerges as a potent tool for the treatment of chronic disorders like cancer and Alzheimer's disease. As a result, a lot of pharmaceutical corporations are financing research and development initiatives focusing on monoclonal antibodies. Additionally, the utilization of cutting-edge technology in mAb production enhanced healthcare infrastructure, and government funding for infection control and management all contribute to the market growth. Low demand, however, as a result of affordability issues in middle- and low-income nations, can constrain the market. Patent lapses also negatively affect the market.
As per the World Cancer Research Fund International (WCRF), around 18 billion cancer cases were registered in 2020 and will rise by 49% by 2050. This occurrence of cancer and other chronic diseases globally is increasing the demand for innovative biologics such as monoclonal antibodies. This in turn has improved opportunities for pharmaceuticals. Even the Covid-19 pandemic has greatly affected the monoclonal antibody therapy market.
Over the projected period, utilization rates are anticipated to increase due to the approval of blockbuster mAbs for a number of indications. Avastin, Herceptin, Remicade, and Rituxan, for example, have been FDA-approved for a variety of illnesses (cancer, rheumatoid arthritis, Crohn's disease, ulcerative colitis, etc.), significantly increasing the patient base. Due to a robust product pipeline, this market is expected to expand at a profitable CAGR.
The coupling of other techniques with monoclonal antibodies proved to be a market booster. For instance, the coupling of IRDye800CW, a near-infrared fluorescent dye with a monoclonal antibody has clinical potential for the detection and characterization of cancer. The use of advanced technology such as next-generation sequencing in the production of monoclonal antibodies also drives the market.
However, the monoclonal antibody therapy market is facing challenges due to its high cost of therapy. For instance, Keytruda is a monoclonal antibody used in the treatment of various cancer types. Its 50 mg vial costs around $2,250. This cost-related restrains slows down the market. The loss of patents is also expected to hinder the market growth during the forecast period.
Asia Pacific is expected to show significant growth in the forecast period due to rising disposable income, the presence of vast untapped potential, the increase in R&D spending, and growing patient awareness of the use of therapeutic mAb. The rise in medical tourism in the emerging economies is also increasing the opportunity for the monoclonal antibody therapy market.
Some of the prominent players operating in the monoclonal antibody therapy market are F. Hoffman-La Roche Ltd., Bayer AG, Novo Nordisk A/S, Thermo Fisher Scientific Inc., Regeneron Pharmaceuticals Inc., AstraZeneca plc, Sanofi SA, Abbott Laboratories, Eli Lilly & Company, Mylan N.V., GlaxoSmithKline Plc, and Merck KgaA among others.