PUBLISHER: The Business Research Company | PRODUCT CODE: 1429357
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429357
Cancer monoclonal antibodies are lab-created proteins designed to bind to specific targets, such as antigens on cancer cells. Each antibody is tailored to bind to a single antigen, resulting in a diverse range of monoclonal antibodies.
Key types of monoclonal antibody therapies for cancer include bevacizumab (Avastin), rituximab (Rituxan), trastuzumab (Herceptin), cetuximab (Erbitux), and panitumumab (Vectibix). Avastin, for example, is utilized for treating wet age-related macular degeneration and diabetic eye problems. Applications span breast cancer, blood cancer, liver cancer, brain cancer, colorectal cancer, and more. These therapies are utilized across various sectors, including hospitals, clinics, research laboratories, pharmacies, and others.
The cancer monoclonal antibodies market research report is one of a series of new reports from The Business Research Company that provides cancer monoclonal antibodies market statistics, such as cancer monoclonal antibodies industry global market size, regional shares, competitors with a cancer monoclonal antibodies market share, detailed cancer monoclonal antibodies market segments, market trends and opportunities, and any other information you may require to thrive in the ca This cancer monoclonal antibodies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The cancer monoclonal antibodies market size has grown rapidly in recent years. It will grow from $59.98 billion in 2023 to $66.1 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The historical growth can be attributed to the growth of emerging markets, a rise in research and development (R&D) expenditure, an increased geriatric population, and a growing preference for biological treatments.
The cancer monoclonal antibodies market size is expected to see strong growth in the next few years. It will grow to $95.99 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. Anticipated growth in the forecast period is driven by the increasing prevalence of cancer, expanding global access, and a rise in healthcare expenditure. Key trends include product innovation through strategic collaborations, technological advancements, the development of humanized cancer monoclonal antibodies, investments in AI to reduce R&D costs and expedite drug development, and increased R&D investments.
The surge in cancer incidences worldwide is poised to significantly contribute to the expansion of the cancer monoclonal antibody market. For instance, data from the American Cancer Society projected approximately 1.9 million new cancer diagnoses and an estimated 609,360 cancer-related deaths in the United States alone in January 2022, translating to roughly 1,670 fatalities daily. Globally, the four most prevalent cancer types - lung, prostate, bowel, and female breast cancer - collectively account for 43 percent of all new cancer cases. Consequently, the escalating rates of cancer incidence on a global scale are expected to drive heightened demand within the cancer monoclonal antibody market.
The anticipated growth of the Cancer Monoclonal Antibodies market is further fueled by an upsurge in healthcare expenditures. Healthcare expenditures encompass the aggregate amount allocated toward healthcare-related services, products, and endeavors over a specified period, whether at an individual, community, national, or global level. Increased investment in healthcare sectors can substantially bolster the development, accessibility, and research pertaining to monoclonal antibody treatments. Moreover, such investments facilitate the integration of cutting-edge technologies in the production and delivery of these treatments. Notably, the Office for National Statistics reported in May 2023 that healthcare spending in the UK experienced a notable upswing, with a nominal increase of 9.4% and a real increase of 9.7%. In 2021, the UK's total healthcare expenditure amounted to $367.25 billion (£280.7 billion), with pharmaceutical expenditure reaching $51.84 billion (£39.6 billion). Additionally, preventive care spending surged to $45.93 billion (£35.1 billion) in 2021, more than doubling from the previous year. Consequently, the escalating healthcare expenditure landscape is expected to be a key driver propelling the growth trajectory of the cancer monoclonal antibodies market in the foreseeable future.
Companies within the cancer monoclonal antibody market are actively pursuing product innovation through strategic collaborations as a means to sustain competitiveness in the industry. To navigate the increasingly competitive landscape, these companies are not only focusing on developing innovative products but also engaging in partnerships aimed at sharing skills and expertise. While partnerships with academic and research institutions have been a traditional practice in this sector, the trend of collaboration has notably intensified in recent years. As an illustration, in March 2023, BioNTech SE, a German biotechnology research company, entered into a partnership with OncoC4, Inc. This collaboration aims to jointly develop and commercialize an innovative checkpoint antibody targeting various solid tumor indications. BioNTech will gain an exclusive worldwide license for the ONC-392 anti-CTLA-4 monoclonal antibody from OncoC4. The partnership outlines plans for joint development in solid tumor indications, including the initiation of a Phase 3 trial in 2023. Additionally, BioNTech will explore combination therapies and provide a $200 million upfront payment, alongside royalty payments, and potential milestone payments to OncoC4. OncoC4, Inc., based in the US, specializes in the clinical-stage development of biopharmaceuticals for cancer treatment.
Companies are directing their efforts toward pioneering biologic therapies, such as EPKINLY, to reinforce their market position. EPKINLY stands as an FDA-approved bispecific antibody designed for the treatment of advanced lymphoma. In a significant development in May 2023, AbbVie Inc., a US-based biopharmaceutical company, secured approval from the U.S. Food and Drug Administration (FDA) for EPKINLYTM (epcoritamab-bysp). This groundbreaking approval marks EPKINLY as the first and sole T-cell engaging bispecific antibody designated for treating adult patients grappling with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), including instances originating from indolent lymphoma, and high-grade B-cell lymphoma (HGBL) who have undergone at least two rounds of systemic therapies.
In November 2021, Pfizer Inc., a U.S.-based pharmaceutical and biotechnology company, successfully acquired Trillium Therapeutics for $2.22 billion. This strategic acquisition is geared towards expanding Pfizer's portfolio of biologics that boost the innate immune system, targeting both hematological malignancies and solid tumors. Trillium Therapeutics, headquartered in Canada, specializes in the development of innovative immunotherapies and antibody programs for cancer treatment.
Major companies operating in the cancer monoclonal antibodies market report are F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Bristol Myers Squibb Company, Johnson & Johnson, Amgen Inc., AstraZeneca PLC, Eli Lilly and Company, Pfizer Inc., Regeneron Pharmaceuticals Inc., Sanofi S.A, Innovent Biologics, Sino biological, Shanghai Henlius Biotech, Intas bio, Zydus Cadila, Ranbaxy, Takeda pharmaceuticals, AbbVie Inc., Biogen Idec, Bayer AG, Novartis AG, BiosanaPharma, WuXi, GlaxoSmithKline, Teva UK Limited, Abbott Laboratories, Fujifilm, Procos SpA, BSP Pharmaceuticals, Genmab, Insysbio, Rani Therapeutics, Emisphere Technologies, Inc., Enteris BioPharma, Allena Pharmaceuticals, Apotex, Gilead Sciences, Eurofarma, Teuto Brasileiro, BioMarin Pharmaceutical, BIONOVIS BRASIL, Ecopharm, Hypermarcas, Ache, Libbs Farmaceutica, Julphar, Spimaco Addwaeih, Hikma Pharmaceuticals, Tabuk, Novo Nordisk, BBI Solutions, APC Pharma, EPICIO, Medical Union Pharmaceuticals, South Egypt Drug Industries Co. Pharmaceutical, Vacsera Pharma, Aspen Pharmacare, Amoun Pharmaceuticals CO Ltd., 54gene, Baxter International, Altis Biologics, Cipla Medpro South Africa, Genzyme
North America was the largest region in the cancer monoclonal antibodies market in 2023. The regions covered in the cancer monoclonal antibodies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the cancer monoclonal antibodies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The cancer monoclonal antibody market consists of sales of pembrolizumab, blinatumomab, casirivimab, and imdevimab. Values in this market are ""factory gate values,"" that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cancer Monoclonal Antibodies Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cancer monoclonal antibodies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cancer monoclonal antibodies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cancer monoclonal antibodies market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.