Monoclonal Antibody Therapeutics Market will grow at highest pace owing to rising cancer and autoimmune diseases prevale

Monoclonal antibody therapeutics are laboratory-produced molecules engineered to act as substitute antibodies that can restore, enhance or mimic the immune system's attack on cells. They function by binding monospecifically to certain cells or proteins. Monoclonal antibody therapeutics are useful in detecting or purifying substances for research purposes. They are used medically to treat a wide variety of conditions like cancer, cardiovascular disease, and other diseases. The global monoclonal antibody therapeutics market is witnessing high growth owing to increasing prevalence of chronic diseases like cancer and various autoimmune disorders.

The Global Monoclonal Antibody Therapeutics Market is estimated to be valued at US$ 83.63 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the monoclonal antibody therapeutics are IOI Loders Croklaan, Ghana Nuts Company Ltd., and The Savannah Fruits Company. Monoclonal antibodies have revolutionized cancer treatment over the past decade. Companies are investing heavily in R&D to develop novel monoclonal antibodies for various cancer types along with autoimmune diseases. Growing geriatric population also increases the risk of developing cancer and other chronic conditions, thereby raising demand for monoclonal antibody therapeutics. Rapid advancements in genomics and proteomics have aided development of novel monoclonal antibodies with higher specificity and less side effects.

Cancer prevalence has been increasing worldwide due to lifestyle changes and prolonged life expectancy. Monoclonal Antibody Therapeutics Market Size have proven to be highly effective in treating several cancer types like colorectal cancer, lung cancer and blood cancers. Driven by need for targeted cancer therapeutics, demand for monoclonal antibody drugs is witnessing strong growth. Technological advancements are helping develop novel monoclonal antibody drug formulations with longer shelf life and more convenient routes of administration like subcutaneous injections.

Market Trends

- Combination Therapy Emerging as Prominent Trend: Combining monoclonal antibodies with other treatment modalities like chemotherapy, radiation or other monoclonal antibody drugs is gaining prominence. Combination therapy enables targeting of multiple pathways for better response.

- Biosimilars Emerge as Cost-effective Alternatives: With many prominent monoclonal antibody drugs going off-patent, biosimilars provide long-term cost savings opportunity to payers. However, interchangeability and automatic substitution remain gray areas that need regulatory clarity.

Market Opportunities

- High Scope for Monoclonal Antibodies in Autoimmune Diseases: Various autoimmune disorders have unmet needs that monoclonal antibodies are well positioned to address. Diseases like rheumatoid arthritis, multiple sclerosis and inflammatory bowel disease offer significant scope.

- Emerging Markets to Drive Future Growth: Developing countries in Asia Pacific and Latin America are experiencing rising healthcare expenditure as well as growing disease burden. This offers significant opportunities for monoclonal antibody therapeutics market.

Impact of COVID-19 on Monoclonal Antibody Therapeutics Market Growth

The COVID-19 pandemic has adversely impacted the monoclonal antibody therapeutics market growth. With lockdowns and restrictions imposed worldwide, several elective surgeries and non-essential treatments were postponed, thereby hampering the monoclonal antibody therapeutics sales. Also, disruptions in supply chains led to shortages of raw materials and logistical delays, adversely affecting the monoclonal antibody production. However, with COVID-19 infections rising rapidly, monoclonal antibodies emerged as a promising treatment option. Several pharmaceutical companies accelerated their efforts to develop novel monoclonal antibodies against SARS-CoV-2. Drugs like Bamlamivib and REGEN-COV were approved for emergency/compassionate use to treat COVID-19.

As the pandemic situations improved with rising vaccination rates, the elective and routine healthcare services resumed gradually. This increased the demand for monoclonal antibodies used for treating cancer, autoimmune disorders and other chronic conditions. The need to develop highly effective monoclonal antibody drugs against various infectious diseases also increased tremendously to better prepare for any future pandemics. Overall, though the pandemic initially slowed down the monoclonal antibody therapeutics market growth, increased R&D investments in developing novel monoclonal antibodies against COVID-19 and other diseases are expected to drive faster growth in the post-pandemic period. Continuous product innovation and rapid production scale-up will be crucial for sustaining the growth momentum.

Monoclonal Antibody Therapeutics Market Concentration in the United States

The United States accounts for the major share of global monoclonal antibody therapeutics market in terms of value. Advanced healthcare infrastructure, high healthcare spending, presence of leading biopharma companies and faster regulatory approvals have enabled the US to emerge as the largest and most valuable market. The high incidence and increasing prevalence of chronic diseases like cancer and cardiovascular disorders have also amplified the demand for monoclonal antibody drugs in the US. With continual approvals of novel antibodies and expansion of existing drug pipelines, the US monoclonal antibody market is projected to grow further at an accelerated pace during the forecast period. However, high drug prices remain a key challenge for market growth in the region.

Fastest Growing Region for Monoclonal Antibody Therapeutics Market

Asia Pacific region is poised to register the fastest growth in the global monoclonal antibody therapeutics market during the forecast period. Rising healthcare expenditures, rapid economic developments, increasing sales of biosimilars and growing patient access to modern medical technologies are some of the factors driving the monoclonal antibody therapeutics demand in the Asia Pacific region. Furthermore, growing geriatric population, rising prevalence of lifestyle diseases and improving biopharmaceutical research infrastructure in many Asia Pacific countries will complement the monoclonal antibody market growth. Government initiatives to strengthen local pharmaceutical industries are attracting global investments, contributing hugely to the monoclonal antibody drugs commercialization across Asia Pacific.