According to the research report titled ‘Global Cancer Monoclonal Antibodies Market Size study, by Type (Murine Antibodies, Chimeric Antibodies, Humanized Antibodies), by Therapies (Bevacizumab (Avastin), Rituximab (Rituxan), Trastuzumab (Herceptin), Cetuximab (Erbitux), Panitumumab (Vectibix), Others), by Application (Breast Cancer, Blood Cancer, Liver Cancer, Brain Cancer, Colorectal Cancer, Others) and Regional Forecasts 2020-2027‘, available with Market Study Report, global cancer monoclonal antibodies market was valued at USD 41.3 billion in 2019 and is expected to witness a CAGR of 11.3% during 2020-2027.
 

Rising prevalence of cancer, surging investments in research & development of genomic studies, and technological developments in genetic sequencing & target gene selection are impelling the growth of global cancer monoclonal antibodies market during.
 

Notably, laboratory-produced molecules, cancer monoclonal antibodies work as substitute antibodies to enhance, simulate, or restore the immune system's attack on cancer cells. They are used to treat different types of cancer, such as breast cancer, melanoma, brain cancer, and lung cancer, thus propelling global cancer monoclonal antibodies market outlook.
 

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Amidst the COVID-19 outbreak, the pharma industry is more concerned about the development of the coronavirus vaccine. Hence, R&D activities for cancer monoclonal antibodies has taken a plunge, although the demand for cancer monoclonal antibodies is stable and as high as it was before the pandemic. On the contrary, strict regulatory guidelines and long duration of R&D with frequent failures in clinical trials may restrain global cancer monoclonal antibodies market scenario during the forecast period of 2020-2027.
 

Based on application spectrum, global cancer monoclonal antibodies industry is segmented into blood cancer, breast cancer, colorectal cancer, brain cancer, liver cancer and others. With regards to therapy type, the industry is bifurcated into bevacizumab (Avastin), trastuzumab (Herceptin), panitumumab (Vectibix), cetuximab (Erbitux), rituximab (Rituxan), and others. As per type, the market is segmented into chimeric antibodies, humanized antibodies, and murine antibodies.
 

Regionally, North America was the major revenue contributor for global cancer monoclonal antibodies market in the recent past, mainly due to increasing incidences of cancer and rising government investments for infection control & management in the region. Meanwhile, Asia Pacific market is anticipated to witness highest growth rate over 2020-2027, owing to rising government funding for cancer research & technology, followed by the presence of many leading companies in the region.
 

Major players operating in global cancer monoclonal antibodies industry include Amgen Inc., Spectrum Pharmaceuticals Inc., Merck & Co. Inc, F. Hoffmann-La Roche Ltd, Genmab A/S, Johnson & Johnson, Novartis AG, Bristol Myers Squibb Company, Eli Lilly and Company, and GlaxoSmithKline PLC.