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Monoclonal Antibody Therapy Market to Exhibit CAGR of 14.1%; Augmented Concentration on Research and Development by Key Players to Reinforce Growth

August 26, 2021 | Healthcare

The global monoclonal antibody therapy market size was USD 157.33 billion in 2020. The market is projected to grow from USD 178.50 billion in 2021 to USD 451.89 billion in 2028 at a CAGR of 14.1% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Monoclonal Antibody Therapy Market Size, Share & COVID-19 Impact Analysis, By Type (Human mAb, Humanized mAb, Chimeric mAb, and Murine mAb), By Application (Cancer, Autoimmune Diseases, and Others), By Distribution Channel (Hospital Pharmacy Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2021-2028.”


As per our analysts, therapeutics monoclonal antibodies are relishing unparalleled triumph, income growth, augmented research, and grip owing to their operative clinical results. Monoclonal antibodies such as Remicade, Rituxan, Remicade, Humira, and Herceptin have developed as bestseller medications, which are seen improving the market condition. Besides this, the market is seen swamped by abundant biosimilars due to low cost, effortless sanction procedure, and patent expiration. This is further bolstering the monoclonal antibody therapy market growth.


Drug Approval by Authorities to Cure COVID-19 Infection Set to Boost Sales amid Pandemic


As the effects of the COVID-19 pandemic are evident and have adversely impacted the majority of the industries. Whereas the medical, pharmaceutical sectors and the general healthcare industry have benefitted from this pandemic situation. Though the medical tourism for elective surgeries and operations reduced, the R&D segment flourished.


The COVID-19 pandemic has augmented the R&D sector of the corporations with a target to unveil mAbs-based COVID-19 treatment in the market. For example, in November 2020, U.S FDA approved emergency use authorization (EUA) of monoclonal antibodies casirivimab and imdevimab to Regeneron Pharmaceutical for treating COVID-19 infection. Thus, such novelties are estimated to affect the transactions of this market during the mentioned timeframe.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/monoclonal-antibody-therapy-market-102734


Pfizer Launches Trastuzumab Biosimilar to Strengthen its Global Position


Pfizer had previously announced that it would launch Trastuzumab Biosimilar. Trazimera is obtainable for the treatment of human epidermal growth factor receptor 2 (HER2)-overexpressing breast cancer and HER2-overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma.


The company stated that Trazimera should carry out an extensive procurement cost of $80.74 per 10 mg, which is a discount of 22% to the WAC of Herceptin. Earlier in January, Pfizer unveiled its rituximab product, Ruxience, and its biosimilar bevacizumab Zirabev.


With Trazimera in place, Herceptin consists of 3 biosimilar challengers. Along with Trazimera, the remaining two competitors are Mylan and Biocon biosimilar trastuzumab, Ogivri, and Amgen’s Kanjinti. Both of these drugs were launched in 2019.


This launch by Pfizer is the sixth biosimilar to be inaugurated within 120 days, summing up for 15 biosimilars of the total launched in the U.S. The launch of Trazimera formally converts the Herceptin market to one of the most competing therapeutic markets in the U.S., and the market for monoclonal antibody therapy could possibly own as many as five biosimilars challenging in it by the end of 2020.


Increasing Occurrence of Chronic Diseases to Fuel Growth of Market


The rising frequency of chronic diseases such as cancer is one of the chief aspects enhancing this market. Prolonged diseases stance a huge liability across the world, which is thrusting the governments of several nations to struggle and put determination towards plummeting the cost load relating to their spread.


As per the Centers for Disease Control and Prevention, about 6 out of 10 grownups in the U.S. are reported to be undergoing a prolonged disease, resulting in a healthcare budget of US$ 3.5 trillion annually. Moreover, unfulfilled patient requirements and refining health compensation strategies for therapeutic monoclonal antibodies utilized as treatment possibility of chronic diseases are predicted to aid the growth of the market for mAb therapeutics in the upcoming years.


Industry Development



  • December 2019: Mylan and Biocon declared that they would be launching Ogivri, which is a biosimilar of trastuzumab in the United States.


List of Key Players Covered in the Report



  • AbbVie Inc. (Illinois, United States)

  • Merck & Co., Inc. (New Jersey, United States)

  • F.Hoffmann-La Roche Ltd. (Basel, Switzerland)

  • Bristol-Myers Squibb Company (New York, United States)

  • Johnson & Johnson Services, Inc. (New Jersey, United States)

  • Daiichi Sankyo Company, Limited (Tokyo, Japan)

  • Novartis AG (Basel, Switzerland)

  • Alexion Pharmaceuticals, Inc.  (Massachusetts, United States)

  • Amgen Inc. (California, United States)


Further Findings



  • North America stood at USD 75.19 billion in 2020. Factors attributed to the dominant share of North America are new product launches, increasing research funding and collaborations, and the increasing prevalence of chronic diseases.

  • The human monoclonal antibody segment accounted for 41.9% in 2020 in terms of the monoclonal antibody therapy market share and was in the dominating position. This can be attributed to the higher sales and demand for Humira.


Table of Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



Segmentation



  Type; Application; Distribution Channel; and Geography



By Type




  • Human mAb

  • Humanized mAb

  • Chimeric mAb

  • Murine mAb



By Application




  • Cancer

  • Autoimmune Diseases

  • Others



By Distribution Channel




  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy



By Geography




  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, Rest of Latin America)

  • The Middle East & Africa (GCC, South Africa, Rest of the Middle East & Africa)



 


 


 


 


 

Monoclonal Antibody Therapy Market
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