DUBLIN–(BUSINESS WIRE)–The “Global Monoclonal Antibodies Market (By Source, Application, End-Users & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)” report has been added to ResearchAndMarkets.com’s offering.
The global monoclonal antibodies market is expected to reach US$161.7 billion in 2024, increasing at a CAGR of 7.21%, for the duration of 2020-2024.
The factors such as, increasing incidences of new cancer cases, escalating sales of biologics, growth in geriatric population, increasing pharmaceutical R&D spending, rise in prevalence of diabetes and upsurge in healthcare expenditure would drive the growth of the market. However, the market growth would be challenged by the high cost involved in the development of the therapeutic monoclonal antibodies, threats associated with drugs counterfeiting and legal regulations. A few notable trends include accelerating growth rates of infectious diseases, growth in the pharmaceutical & biotechnology M&A, development of new monoclonal antibodies and emergence of stereo-specific monoclonal antibodies.
The global monoclonal antibodies market is very lucrative as there is wide scope for its application for various indications. The rising prevalence of cancer is leading to the demand for humanized monoclonal antibodies as such class of drugs can target cancer cell at rapid speed as well as reduce their multiplication. In addition, monoclonal antibodies have found application in research and development of various novel drugs as well as therapies, which is providing a great opportunity for its market growth across the world.
The fastest-growing regional market is North America due to the presence of biopharmaceutical key players and the well-established healthcare infrastructure. It is followed by Europe and the Asia Pacific, which also hold a considerable share in the global market, owing to the increased application of monoclonal antibodies. Further, the rising number of coronavirus cases is augmenting the need for precise therapeutic options, which is leading to the development of mono-specific and thereby would help the monoclonal antibodies market to grow considerably in the coming year.
Scope of the report:
- The report provides a comprehensive analysis of the global monoclonal antibodies market.
- The major regional markets (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Johnson & Johnson, Novartis AG, Merck & Co., AbbVie Inc., Bristol-Myer Squibb and Amgen AG) are also presented in detail.
Market Dynamics
Growth Drivers
- Rising Incidences of New Cancer Cases
- Escalating Sales of Biologics
- Growth in Geriatric Population
- Increasing Pharmaceutical R&D Spending
- Rise in Prevalence of Diabetes
- Upsurge in Healthcare Expenditures
Key Trends and Developments
- Accelerating Growth Rates of Infectious Diseases
- Growth in Pharmaceutical and Biotech Merger & Acquisition
- Development of New Monoclonal Antibodies
- Emergence of Stereo-specific Monoclonal Antibodies
Challenges
- High Cost Involved
- Threats Associated with Drugs Counterfeiting
- Legal Regulations
Companies Mentioned
- AbbVie Inc.
- Amgen AG
- Bristol-Myer Squibb
- Johnson & Johnson
- Merck & Co.
- Novartis AG
For more information about this report visit https://www.researchandmarkets.com/r/hmz2hq
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