Global Monoclonal Antibodies Market Size

Monoclonal Antibodies Market Analysis

The monoclonal antibodies market is expected to register a CAGR of 8.51% during the forecast period (2022-2027).

The monoclonal antibody production was halted due to the COVID-19 pandemic, and it severely affected the global monoclonal antibodies market as they are widely used in cancer and gene therapy, thus affecting the global monoclonal antibodies market. Although COVID-19 was at its peak in Europe and the United States in 2020, few companies were working on new therapy based on monoclonal antibodies to treat COVID-19. They isolated the COVID-19 antibodies from a recovered person and tested them as a cure for COVID-19 infection, and they were successful and got approval for emergency use by the United States Food and Drug Administration. For example, in February 2021, the Food and Drug Administration permitted emergency use of combined bamlanivimab and etesevimab therapy developed by Eli Lilly and Company for people with mild to moderate COVID-19 infection. Moreover, due to the potential application of monoclonal antibodies, it can be expected that COVID-19 will promote the monoclonal antibodies market.

The monoclonal antibodies are becoming ubiquitous in the treatment of different forms of cancer in developed countries, and this has been attributed to the rapid growth of the global monoclonal antibodies market. According to the report of GLOBOCAN 2020, there were 19.3 million new cases of cancer and about 10 million deaths due to cancer in the world, and increasing cancer cases are the major growth factor behind the market. The other factors, which may contribute positively toward the high growth of the global monoclonal antibodies market, are new gene-based therapy, new research related to the application of monoclonal antibodies in treating some other deadly diseases, like COVID-19, disease diagnostics, and treatment of other diseases, like auto-immune, viral disease treatment, and also the approval of new antibodies by governments may lead to the growth of the market. For instance, In January 2022, GlaxoSmithKline plc and Vir Biotechnology, Inc. announced that the United States government will purchase an additional 600,000 doses of sotrovimab, an investigational monoclonal antibody for the early treatment of COVID-19, enabling further nationwide access to sotrovimab for patients.

The cost associating with monoclonal antibodies is very high because of their complex manufacturing procedure and due to the cost involved in R&D, and it is one of the major restraining factors for the growth of the global monoclonal antibodies market. The high cost of monoclonal antibodies is the main reason why it is still prevalent only in developed countries and not in developing and underdeveloped countries. Another factor responsible that can prove a restraint for this market will be the loss of patents by companies.