Monoclonal Antibodies (mAbs) Market Size Worth $138.6 Billion by 2024: Grand View Research, Inc.
SAN FRANCISCO, November 2, 2016 /PRNewswire/ --
The global monoclonal antibodies (mAbs) market was valued at USD 85.4 billion in 2015 and is expected to reach a value of USD 138.6 billion by 2024. Increasing R&D pertaining to the development of therapeutic mAbs coupled with supportive government initiatives is expected to drive the monoclonal antibodies market growth over the forecast period.
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Increasing demand for personalized medicine is a vital factor responsible for the increasing development of therapeutic antibodies to provide targeted therapies as every individual responds in a different manner to a particular treatment. Moreover, related benefits of using mAbs for therapeutic purposes, including fewer adverse effects, homogeneity, specificity, and large-scale production, are contributing toward significant market growth.
In addition, the government initiatives to enable cost-effective production of mAbs is anticipated to propel the emergence of this sector over the forecast period. For instance, the biomanufacturing initiative byNational Institute of Standards and Technology in the U.S. provides scientifically sound regulatory guidelines to ensure effective and safe manufacturing of protein therapeutics and to support biopharmaceutical manufacturers in offering low-cost and high-quality protein drugs across the globe.
Browse full research report with TOC on "Monoclonal Antibodies (mAbs) Market Analysis By Source (Chimeric, Murine, Humanized, Human), By Type of Production, By Indication (Cancer, Autoimmune, Inflammatory, Infectious, Microbial, Viral Diseases), By End-use (Hospitals, Research, Academic Institutes, Clinics, Diagnostic Laboratories) And Segment Forecasts, 2013 - 2024" at: http://www.grandviewresearch.com/industry-analysis/monoclonal-antibodies-market
Further Key Findings from the Study Suggest:
- Human-based mAbs segment is predicted to grow at a lucrative CAGR in the coming years due to their associated benefits and numerous R&D activities conducted for further development of human mAbs. Large number of mAbs of human origin are in phase III clinical trial for cancer treatment
- In vitro production of mAbs is anticipated to show the fastest growth owing to its wide-scale adoption by biologics manufacturers due to its greater efficiency in cost and time
- The research institute segment is anticipated to exhibit profitable growth due to increasing R&D efforts in the biotech industry as monoclonal antibodies have emerged as a major class of therapeutics for several human diseases, particularly immunological infectious diseases and cancer
- The Asia pacific region has significant growth potential due to rising government initiatives in this region supporting the use of mAbs for research and treatment purposes coupled with the surge in sponsored R&D projects for the development of cost-effective therapeutic mAbs.
- For instance, government-led fund providers, such as National Natural Science Foundation and National Basic Research Program of China, offer financial support to enterprises and universities to conduct mAb research and development.
- The key players serving the monoclonal antibodies market arePfizer, Inc., GlaxoSmithKline plc, Novartis AG, Merck & Co., Inc, Amgen, Inc., Abbott Laboratories, AstraZeneca, Eli Lilly and Company, Mylan N.V., Daiichi Sankyo Company, Ltd., Bayer AG, Bristol Myers Squibb Co.,Johnson & Johnson Services, Inc., Biogen Inc., Thermo Fisher Scientific, Inc., Sanofi Genzyme, F. Hoffmann-La Roche Ltd., and Novo Nordisk A/S.
- The introduction of advanced methods for mAb production further encourages the pharmaceutical companies to build their own product pipeline. According to a study published by NCBI at the end of 2013, approximately 816 companies were involved in therapeutic protein research.
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Grand View Research has segmented the monoclonal antibodies market by source type, production, indication, end-use, and region:
- Global Monoclonal Antibodies Source Type Outlook (Revenue, USD Billion, 2013 - 2024)
- Global Monoclonal Antibodies Production Type Outlook (Revenue, USD Billion, 2013 - 2024)
- In Vivo
- In Vitro
- Global Monoclonal Antibodies Indication Outlook (Revenue, USD Billion, 2013 - 2024)
- Autoimmune Diseases
- Inflammatory Diseases
- Infectious Diseases
- Microbial Diseases
- Global Monoclonal Antibodies End-use Outlook (Revenue, USD Billion, 2013 - 2024)
- Research Institutes
- Monoclonal antibodies Market Regional Outlook (Market Revenue in USD Billion, 2013 - 2024)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- North America
Access research Insight - http://www.grandviewresearch.com/research-insights/monoclonal-antibodies-market-insights-adoption-diagnostic-applications-drive-growth
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.