What is the global market size of Monoclonal Antibodies Market?

Global Monoclonal Antibodies Market size was valued at USD 210 billion in 2022 and is poised to grow from USD 233.1 billion in 2023 to USD 537.19 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).

Who are the key vendors in the Global Monoclonal Antibodies Market?

Monoclonal antibody companies should focus on reducing their time-to-market and fast track their commercialization processes to boost revenue generation. Collaborations and partnerships will be of the essence for companies looking to hasten their product launches and gain a competitive advantage over other market players. Monoclonal antibody market players can also take advantage of supportive government initiatives and grants for medical research related to monoclonal antibodies. 'Abbott Laboratories', 'Johnson & Johnson Services Inc.', 'Amgen Inc.', 'Pfizer Inc.', 'Sanofi S.A.', 'AstraZeneca plc', 'Bristol Myers Squibb', 'F. Hoffman-La Roche Ltd.', 'GlaxoSmithKline plc', 'Merck KGaA', 'Novo Nordisk A/S', 'Novartis', 'Bayer AG', 'Daiichi Sankyo Company Limited', 'Biogen Inc.', 'Thermo Fisher Scientific Inc.', 'Viatris Inc.', 'Eli Lilly and Company'

What is the key driver of Global Monoclonal Antibodies Market?

Rising incidence of chronic diseases around the world has boosted the demand for novel treatments and therapeutics, which in turn is driving investments in medical R&D. Monoclonal antibodies play a crucial role in R&D for therapeutics of many chronic diseases and this could bolster market growth going forward.

What is the key market trend for Global Monoclonal Antibodies Market?

Biosimilar and Biobetters: Patent expiry of monoclonal antibodies will offer attractive opportunities in the name of biosimilar and biobetter development. Companies can invest in research and development of biosimilars of popular monoclonal antibodies whose patent is going to expire soon and make huge profits in the long run.

Which region accounted for the largest share in Global Monoclonal Antibodies Market?

North America is estimated to account for a substantial share of the Global Monoclonal Antibodies Market owing to high investments in medical R&D and the presence of key biotechnology companies. Supportive government initiatives to promote cancer research are also estimated to bolster monoclonal antibody demand in this region. The United States is expected to lead the market growth in this region followed by Canada. of a developed healthcare infrastructure in the countries also bolsters North America’s dominance.

Monoclonal Antibodies Companies

Monoclonal Antibodies Market Competitive Landscape

Top Player’s Company Profiles

Novartis AG (Switzerland)
Pfizer Inc. (US)
GlaxoSmithKline plc (UK)
Amgen Inc. (US)
Merck & Co., Inc. (US)
Daiichi Sankyo Company, Limited (Japan)
Abbott Laboratories (US)
AstraZeneca plc (UK)
Eli Lilly and Company (US)
Johnson & Johnson Services, Inc. (US)
Bayer AG (Germany)
Bristol Myers Squibb (US)
F. Hoffmann-La Roche Ltd. (Switzerland)
Viatris Inc. (US)
Biogen Inc. (US)
Thermo Fisher Scientific, Inc. (US)
Novo Nordisk A/S (Denmark)
Sanofi S.A. (France)
Merck KGaA (Germany)
Genmab A/S (Denmark)
Regeneron Pharmaceuticals, Inc. (US)
Incyte Corporation (US)

FAQs

Global Monoclonal Antibodies Market size was valued at USD 211 billion in 2022 and is poised to grow from USD 235.27 billion in 2023 to USD 562.03 billion by 2031, growing at a CAGR of 11.5% during the forecast period (2024-2031).

To raise revenues, monoclonal antibody companies need to pay attention to their time-to-market and hasten the speed at which they commercialize their products. Any company looking to get an edge over the others in the same market where they operate to launch their product rapidly will realize that alliances and partnerships work best. Besides the prospects of alliances and partnerships, government funding and initiatives to facilitate medical research on monoclonal antibodies also promise much for players in the monoclonal antibody market. 'Novartis AG (Switzerland) ', 'Pfizer Inc. (US) ', 'GlaxoSmithKline plc (UK) ', 'Amgen Inc. (US) ', 'Merck & Co., Inc. (US) ', 'Daiichi Sankyo Company, Limited (Japan) ', 'Abbott Laboratories (US) ', 'AstraZeneca plc (UK) ', 'Eli Lilly and Company (US) ', 'Johnson & Johnson Services, Inc. (US) ', 'Bayer AG (Germany) ', 'Bristol Myers Squibb (US) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Viatris Inc. (US) ', 'Biogen Inc. (US) ', 'Thermo Fisher Scientific, Inc. (US) ', 'Novo Nordisk A/S (Denmark) ', 'Sanofi S.A. (France) ', 'Merck KGaA (Germany) ', 'Genmab A/S (Denmark) ', 'Regeneron Pharmaceuticals, Inc. (US) ', 'Incyte Corporation (US)'

The growing rate of the incidence of chronic diseases such as cancer and autoimmune diseases has mainly contributed to the increase in the monoclonal antibodies (mAbs) market. The demand for targeted drugs, such as monoclonal antibodies, increases as the average age of the population rises and people become more prone to lifestyle-related health issues. Pharmaceutical companies have put a lot of money into researching and developing new monoclonal antibodies (mAb) drugs because of the high demand for such treatment drugs.

Growth of Biosimilars: One of the significant trends in the market is the emergence of biosimilars. Biosimilars are becoming popular as many known mAbs have patents expiring, where cheaper alternatives are now available. This trend brings in economies of scale with increased numbers of accessions to drugs, to the benefit of patients and pharmaceutical firms alike. It is predicted that market dynamics will shift in response to acceptance of biosimilars, encouraging more competition and innovation.

North America remained the largest market in 2023, accounting for a share of around 46.1%, mainly due to an advanced healthcare system and high patient awareness, and promising future for research in cancer. This area benefits from massive funding by governments to advance cancer research, thereby rapidly transforming the creation and availability of monoclonal antibodies for medicinal use. The presence of these important industry participants such as Pfizer Inc., Amgen, Inc., and Merck & Co. helps generate a competitive environment conducive to cooperation and innovation. The North American market is expected to continue its leadership position while being poised to have stable growth in the next few years through these companies continuing their efforts on their R&D operations.

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What is the global market size of Monoclonal Antibodies Market?

Who are the key vendors in the Monoclonal Antibodies Market?

What is the key driver of Monoclonal Antibodies Market?

What is the key market trend for Monoclonal Antibodies Market?

Which region accounted for the largest share in Monoclonal Antibodies Market?

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