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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
List of Key Players Covered in the Report
Further Findings
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 |
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By Application |
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By Distribution Channel |
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By Geography |
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