Cancer Monoclonal Antibodies Market Size Projected to Generate a Revenue of $106,825.10 Mn by 2031Download Sample Reports Overview
The Global Cancer Monoclonal Antibodies Market Size was $55,640.00 million in 2021 and is predicted to grow with a CAGR of 7.0%, by generating a revenue of $106,825.10 million by 2031.
Impact Analysis of COVID-19 on Cancer Monoclonal Antibodies Market
The cancer monoclonal antibodies sector has suffered due to the COVID-19 pandemic. The COVID-19 pandemic has had a severe influence on cancer awareness, prevention, diagnosis, and treatments due to the lockdown, travel bans, and general dread. Therefore, the sudden increase in the number of patients linked with COVID-19, as well as the related mortality risk, has prompted the demand for effective therapeutics. Furthermore, various industry participants are constantly working on the development of novel monoclonal antibodies for the prevention and treatment of the COVID-19 virus due to the potential to reduce the disease burden. Using monoclonal antibodies for cancer treatment got difficult during the pandemic. Due to patients' weak or compromised immunity and susceptibility to infection, it was difficult to conduct the therapy sessions.
Global Cancer Monoclonal Antibodies Market Analysis
The rise in cases of cancer, among people globally, is expected to drive the cancer monoclonal antibodies market during the forecast time. Cancer is a chronic disorder that occurs due to some genetic manipulation or mutation which results in an abnormal multiplication of normal cells. Cancer may occur in any part of the body and is of different types like lung cancer, prostate cancer, breast cancer, and others. Cancer is a deadly disease and millions of people are estimated to die every year. Thus, the demand for a potential treatment has increased among people and researchers. The cancer monoclonal antibody technique is a targeted therapy that has proven to manage cancer disease in patients to some extent. This factor is expected to drive the cancer monoclonal antibodies market growth during the forecast period.
Cancer management is an expensive procedure as the process, technology, and approaches differ from patient to patient depending upon the stages of cancer. Treatment with cancer monoclonal antibodies is costly and not everyone is able to afford it, especially people in rural areas of developing countries or underdeveloped countries. Such factors are likely to hinder the cancer monoclonal antibodies market growth during the forecast time.
Growing awareness among people about the proper management of cancer monoclonal antibody therapy is expected to drive the global cancer monoclonal antibodies market expansion during the forecast period. Also, extensive research is being conducted in the field of cancer disease treatment by scientists and researchers which is further likely to drive the global market growth. Furthermore, new medicines and solutions being discovered by manufacturers are likely to propel the growth of the market. All these are the major factors anticipated to create several growth opportunities for the key players operating in the cancer monoclonal antibodies market in the future.
Global Cancer Monoclonal Antibodies Market, Segmentation
The cancer monoclonal antibodies market is segmented on the basis of antibody type, application, end user, and region.
The antibody type segment is further divided into murine, chimeric, and humanized. Among these, the humanized sub-segment is anticipated to witness the fastest growth during the forecast period. The immunogenic or epitope structures that are specific to mice are replaced with humanized monoclonal antibodies. The humanization of mouse monoclonal antibodies has been implemented widely, which has contributed to the market expansion. This has been made possible by the low cost, wide availability, and speedy production times of mouse monoclonal antibodies. Furthermore, humanized monoclonal antibodies account for 50% of recently authorized mAbs.
The application segment is further classified into blood cancer, breast cancer, lung cancer, and others. Among these, the lung cancer sub-segment is expected to show the fastest growth during the forecast period. The segment growth is majorly attributed to the rise in cases of lung disorders among people globally and the increase in demand for effective therapy for disease management. Bevacizumab (Avastin) and ramucirumab are two monoclonal antibodies for lung cancer that have received FDA approval). These medications block the nutrients that aid in the development of the blood vessels that support the growth of cancer. Adoptive cell therapy and vaccination therapies are also acceptable in treatments.
The end user segment is further divided into hospitals and clinics and research and academic institutes/laboratories. Among these, the hospitals & clinics sub-segment accounted for a dominant market share in 2021 and is anticipated to show the fastest growth during the forecast period. The increase in the incidence of cancer and the increase in patient hospitalizations are the major factors expected to drive the segment share. In addition, patient preference is influenced by the accessibility of cutting-edge medication therapy in hospitals. Such factors are likely to drive the cancer monoclonal antibodies market growth in the future.
The cancer monoclonal antibodies market in Asia-Pacific is anticipated to show the fastest growth by 2031. Growing cancer incidences among people in the region are expected to drive the regional market growth during the forecast period. Asia-Pacific is considered to be the region with the quickest growth due to an increase in efforts by international companies to enter this rising market and increase their share. The cancer monoclonal antibodies market in the region is anticipated to be driven by an increase in national and international collaborations among organizations, particularly those in developed and emerging countries.
Key Player in Global Cancer Monoclonal Antibodies Market
Some of the leading cancer monoclonal antibodies market players are
- F. Hoffmann-La Roche Ltd.
- Bristol Myers
- Squibb Co.
- Merck & Co.
- GlaxoSmithKline plc
- Johnson & Johnson
- Amgen Inc.
- Novartis AG
- AstraZeneca plc
- Eli Lilly and Company
In July 2022, Cure announced the creation of an efficient Immunohistochemical test for future laboratory research on monoclonal antibodies. This IHC (immunohistochemical) experiment was created using the S15 Monoclonal Antibody, which identifies a unique and unusual cytoplasmic domain of the relevant protein.
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