PUBLISHER: The Business Research Company | PRODUCT CODE: 1470315
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470315
Monoclonal antibodies (mAbs) are laboratory-produced antibodies that specifically bind to target molecules with high affinity, avidity and specificity. This binding results in inhibition of the target molecule's biological function by blocking its interaction with other receptor proteins or directing its destruction and elimination.
The monoclonal antibodies (mAbs) market consists of sales by entities (organizations, sole traders and partnerships), that produce monoclonal antibodies used to treat various medical conditions including cancer, inflammatory and autoimmune diseases.
The global monoclonal antibodies (mAbs) market was valued at $115,104.5 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 12.0%.
Increase In R&D Expenditure
The growth in global biopharmaceutical spending on research and development of new drugs contributed to the growth of the market during this period. The increased regulatory burden and greater cost containment in western countries led to shift in companies R&D focus to the development of drugs and therapeutics for diseases such as cancer and rare diseases with high return on investment. The percentage of a biopharmaceutical company's R&D out-of-pocket costs from pre-clinical to approval that needs to be allocated to process development and manufacturing for each biopharmaceutical market success was found to vary between 13-17% for Phase I to approval success rates of 4-30%. For the most recent antibody overall success rates of 22%, the CMC cost contribution to R&D was determined as 17%. Therefore, an increase in pharmaceutical R&D expenditure leads to increasing investments and funding for the R&D activities, which drove the monoclonal antibodies market.
Investment in Targeted and Combination Therapy
Companies in the monoclonal antibodies (mAbs) market are investing in targeted and combination therapy, which has been proven to be more effective and less toxic than the traditional treatment options. Targeted cancer therapies are drugs or substances that block the growth of cancer by interfering with molecules that are more specifically involved in cancer cell progression than in normal cell activity. The goal of these therapies is to eliminate cancerous cells in the body while leaving normal cells unharmed. By focusing on changes in the cell that are specific to cancer, this therapy may prove to be more effective than traditional chemotherapy and radiotherapy. Combination therapy uses a treatment method in which a patient is given two or more drugs (or other therapeutic agents) for a single disease. For instance, in September 2022, the European Union (EU) granted approval for AstraZeneca's Evusheld (comprising tixagevimab and cilgavimab, previously known as AZD7442). This long-acting antibody combination was authorized for treating COVID-19 in adults and adolescents (aged 12 years and older, weighing at least 40 kg) who do not need supplemental oxygen and face an elevated risk of developing severe COVID-19. Also, in January 2020, European Commission has granted conditional marketing authorization for Polivy(R) (polatuzumab vedotin), in combination with bendamustine plus MabThera(R) (rituximab) (BR), for the treatment of adult patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma.
The global monoclonal antibodies (mAbs) market is concentrated, with a few large player operating in the market. The top ten competitors in the market made up 41.8% of the total market in 2022.
Monoclonal Antibodies (mAbs) Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global monoclonal antibodies (mAbs) market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for monoclonal antibodies (mAbs)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The monoclonal antibodies (mAbs) 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 history and forecasts market growth by geography. It places the market within the context of the wider monoclonal antibodies (mAbs) market; and compares it with other markets.