Global Monoclonal Antibody Therapeutics Market Size

Monoclonal Antibody Therapeutics Market Analysis

The monoclonal antibody therapeutics market studied was anticipated to grow with a CAGR of nearly 13.2% during the forecast period.

COVID-19 had a significant impact on the monoclonal antibody therapeutics market owing to the factors such as increased utilization of monoclonal antibodies to treat the virus during the pandemic. For instance, as per the February 2022 update, the FDA issued an emergency use authorization (EUA) for a new monoclonal antibody for the treatment of COVID-19 that retains activity against the omicron variant. The emergency use authorization (EUA) for bebtelovimab was for the treatment of mild to moderate COVID-19 in adults and pediatric patients. Furthermore, as per the article published in January 2022 in JBS journal, monoclonal antibodies (mAbs), which had great specificity and dependability, had become effective instruments for diagnosing and treating a wide range of disorders. Many scientists have started working immediately on developing antibody-based assays for the detection of SARS-CoV-2 and Ab medications for use as COVID-19 treatment agents. Thus, the monoclonal antibody therapeutics market is anticipated to have a significant impact in the coming years due to the increase in the prevalence of chronic disease and the rise in the development of monoclonal antibody therapeutics.

The major factors attributing to the growth of the market are a rise in the global prevalence of autoimmune disorders such as rheumatoid arthritis, inflammatory bowel disorder, Crohn's disease, and cancers, and an increased geriatric population causing a global burden. For instance, as per the American Cancer Society 2022 update, the estimated number of new cancer cases in 2022 is found to be 1.9 million. Monoclonal antibodies are a promising class of targeted anticancer agents that improve the functions of the body's immune system to inhibit the growth and spread of cancer cells. Thus increase in cancer cases is anticipated to increase the monoclonal antibody therapeutics, thereby boosting the market growth over the forecast period.

A few more factors play a pivotal role in taking the market to the next level, such as the approval of new products in recent years and a strong pipeline expected to fuel the monoclonal antibody therapeutics across the forecast period. Moreover, the increased purchase of monoclonal antibodies in various diseases in bulk is fuelling market growth. For instance, as per the February 2022 update, United States Department of Health and Human Services (HHS) Secretary Xavier Becerra reported a purchase of 600,000 treatment courses of a new monoclonal antibody treatment that data showed works against the Omicron variant. Such initiatives in the field of monoclonal antibodies are major factors fuelling the market growth. Moreover, the research and development and strong pipeline studies in the field of monoclonal antibodies are uplifting the market growth. For instance, as per the June 2022 update, Genentech presented positive data from a broad blood cancer portfolio at European Hematology Association Annual Meeting 2022. After eight years of follow-up, the Phase III GALLIUM study's final analysis revealed that patients with previously untreated follicular lymphoma who received Gazyva (obinutuzumab) with chemotherapy continued to see a considerable improvement in progression-free survival.

Hence, due to the rise in autoimmune disease, and the increase in product launches in monoclonal antibody therapeutics, the monoclonal antibody market is likely to witness growth over the forecast period. However, the high risk of complications such as heart failure, liver injury, neurological disorders, psoriasis, and many allergic reactions, high challenges while in the development stage, and expensive patented products restrain the market growth.