According to the report titled ‘Monoclonal Antibodies Market Size By Type (Fully Human, Humanized, Chimeric), By Application (Oncology, Autoimmune Diseases, Infectious Diseases), By End-use (Hospitals, Clinics), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global monoclonal antibodies market is projected to showcase lucrative growth during 2021-2027.
 

Rising awareness about modern medicines, increasing use of advanced technologies for producing artificial antibodies, and expansion of specialist centers in developed nations are factors contributing to the growth of global monoclonal antibodies market.

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For the unaware, antibodies are proteins that the immune system employs to recognize and neutralize foreign entities such as viruses, bacteria, and tumor cells. Monoclonal antibodies, likewise, are laboratory-developed proteins having similar ability as immune system to fight off pathogens.

Despite the positive outlook, high cost of some monoclonal antibody therapeutics, coupled with strict regulatory framework are likely to hamper industry development in the forthcoming years.

Based on type, the others segment of monoclonal antibodies industry was assessed at USD 9 billion in 2020 and is anticipated to grow remarkably during the projected timeline, owing to use of improved technology in the development of specific artificial antibodies.

With respect to application scope, the others segment is estimated to grow at a CAGR of 14.2% through 2027, backed by development efforts and the number of prospective products for new therapies such as transplant rejection and migraine.

In terms of end-use terrain, the others sector was valued at USD 55 billion in 2020 and is projected to expand tremendously during the forecast period, due to the establishment of specialist centers in developed nations catering to the need of growing number of people suffering from various ailments.

From a regional standpoint, Middle East & Africa market is poised to grow at a CAGR of 12% through 2027. The regional expansion will be aided by increased awareness of enhanced treatment alternatives, and swift product approvals.

The competitive landscape of global monoclonal antibodies market is defined by companies such as AbbVie, Inc., Eli Lilly & Company, Amgen, Inc., Johnson & Johnson, Regeneron Pharmaceuticals, Inc., The Takeda Pharmaceutical Company Ltd., F. Hoffmann-La Roche AG, Novartis AG, Merck & Co., Inc., AstraZeneca plc, Bristol Myers Squibb, and GlaxoSmithKline plc among others.