The global cancer monoclonal antibodies market was valued at US$ 45.39 Billion in 2020 and is expected to reach US$ 109.87 Billion by 2030, growing at a CAGR of 9.2% from 2021 – 2030.
Monoclonal antibodies are immune system proteins that are created in the laboratory. Antibodies are proteins naturally present in the body and it is responsible for the recognition of disease-causing foreign germs such as bacteria and viruses and are also termed immunoglobulins. Monoclonal antibodies are efficient in treating a large number of inflammatory & autoimmune diseases, especially cancer. Cancer monoclonal antibodies are engineered to mimic the immune system’s attack on cancer cells. Technological advancements in target gene selection and gene sequencing lead the antibodies to perform as efficiently as drugs. During the treatment of cancer, these monoclonal antibodies target the cancerous cells providing no damage to the healthy cells, and are way more efficient than traditional treatment methods such as chemotherapies and drugs in the treatment of cancer. World Health Organization states cancer is the second leading cause of death worldwide, accounting for about 9.8 million deaths, or one in six deaths globally. Colorectal, cervical, lung, and thyroid cancer are more frequently seen in women whereas, prostate, colorectal, liver & lung cancer is more prevalent in men. FDA approved monoclonal antibodies such as Tixagevimab and cilgavimab, are designed in such a way that virus cannot enter human cells, hence pouring the market growth of the global cancer monoclonal antibodies market.
High prevalence of chronic diseases such as cancer globally, accuracy & efficiency of monoclonal antibodies in the treatment of cancer in comparison to traditional methods, improvements in the healthcare sector owing to technological advancements, and reduced side effects are the major factors driving the global cancer monoclonal antibodies market. Also, medical practitioners and oncologists are adopting cost-efficient biosimilar monoclonal antibodies widely in the treatment of cancer globally. For the approval of monoclonal antibodies, strict regulatory guidelines should be followed and it has to be verified before launching by U.S. FDA, Korean FDA, and EMA (European Medicines Agency), hence restricting the growth of the global cancer monoclonal antibodies market. Also, the R&D takes a long time before the clinical trials, and risks of failures are major factors hindering the market growth. However, the rising demand for personalized medicines, cost-effectiveness, and ongoing extensive R&D are majorly augmenting the market growth.
The global cancer monoclonal antibodies market is bifurcated into Type, Application, Distribution Channel, and Region. Type is further classified into Human mAb, Humanized mAb, Chimeric mAb, and Murine mAb. The Human mAb segment dominates the global market owing to the introduction of Adalimumab biosimilars. Based on Application segment, the global market is divided into Cancer, Autoimmune Diseases, and Others. The Cancer segment accounted for the largest share and is leading the global market owing to strong pipeline projects, increasing numbers of cancer globally, and improved healthcare facilities and expenditure. The autoimmune segment is expected to grow at a moderate speed owing to hike in the diseases such as rheumatoid arthritis. By Distribution Channel, the scope of the report offers Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. Among all the segments, the Hospital Pharmacy segment is leading the global cancer monoclonal antibodies market in terms of revenue. The market is growing vigorously owing to factors such as improving healthcare industry, involvement of government and active regulations regarding chronic diseases, and helpful health reimbursements.
Based on Region, the global cancer monoclonal antibodies market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is further classified into the U.S., Canada, and Mexico. Europe is further segmented into Germany, the U.K., France, Italy, Spain, Russia, and the rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, South Korea, and the rest of APAC. The RoW includes South & Central America, the Middle East, and Africa. North America is leading the market among all the geographies owing to strategies such as collaborations, partnerships & product development by market players, increased governmental support, hike in research fundings, and high prevalence of chronic disease in the region.
Prominent players of the global cancer monoclonal antibodies market are Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Amgen, Bristol Myers Squibb Company, Genmab AS, GlaxoSmithKline, Johnson & Johnson, Novartis AG, Merck & Co., and Spectrum Pharmaceuticals, among others.
Market Segmentation and Scope of the Global Cancer Monoclonal Antibodies Market
Rest of the World
Prominent Players of the Global Cancer Monoclonal Antibodies Market