Market Research Report
Global Monoclonal Antibodies Market (By Source, Application, End-Users & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
|Published by||Koncept Analytics||Product code||950619|
|Published||Content info||128 Pages
Delivery time: 1-2 business days
|Global Monoclonal Antibodies Market (By Source, Application, End-Users & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)|
|Published: July 21, 2020||Content info: 128 Pages||
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 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 Asia Pacific, which also hold 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 coming year.