Monoclonal Antibodies Market to Reach Valuation of USD 155.2 Billion by 2028 – Growth in Technological Advancements in the Field of Genomics Drives the Market

In terms of revenue, the Global Monoclonal Antibodies Market is expected to reach USD 155.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.60% from 2022 to 2028.

Recently, the growth in technological advancements in the field of genomics and the high prevalence of chronic diseases and cancer are major factors driving the demand for the Monoclonal Antibodies Market. Additionally, cost-effective treatment for patients suffering from chronic diseases fuels the market growth during the forecast period.

Key Highlights from Report:

• The cancer sub-segment of the indication segment is anticipated to dominate the Monoclonal Antibodies Market. The segment is growing owing to the rise in cancer patients. As per World Health Organization (WHO) around 50 million people are currently suffering from cancer.

• The Vivo sub-segment of the product type segment is accounted for the largest market share in 2021 for the Monoclonal Antibodies Market. Vivo production is considered to be a cost-effective technique for producing Monoclonal Antibodies. Although, the availability of several in vitro methods is expected to hamper the adoption of in vivo production techniques in the coming years.

• North America is the largest regional segment. This growth in the region is due to the increasing demand for Monoclonal Antibodies (MAB) in developed economies such as the U.S. and Canada. This region has the advanced technological infrastructure for producing Monoclonal Antibodies (MAB). Government offers initiatives for treating patients with cancer thus demands Monoclonal Antibodies (MAB) treatment.

Market Dynamics:

Monoclonal Antibodies (MAB) represents one of the fastest antibody areas in the field of genetic engineering. Several products are launched in the market to treat patients. Globally there are 22 companies actively manufacturing Monoclonal Antibodies (MAB) out of which 7 companies dominate the production and thus have 87% of the market share. It is anticipated that a faster approval rate with major investment and government approvals is expected to drive the market.

Several government reforms dating to technological infrastructure might boost the market in the coming years. For instance, the prediction of Monoclonal Antibodies Market increase is expected to occur in conjunction with the rise of biosimilars in emerging economies.

North America is expected to dominate the Global Monoclonal Antibodies Market in 2021 and is likely to continue the same trend during the forecast period. An increase in key players and high investment made by countries such as the U.S. and Canada drive the market demand globally. Emerging economies such as China, Brazil, Russia, Turkey, Mexico, South Korea, India, and Saudi Arabia had reached nearly USD 2.5 billion. The U.S. is considered to be the major manufacturer and contributes 89% of the total Monoclonal Antibodies (MAB) production. The region has advanced technology along with skilled manpower to dominate the Monoclonal Antibodies Market.