HYDERABAD, India, November 8, 2016 /PRNewswire/ --
According to the report "Global Monoclonal Antibodies Market",published by Market Data Forecast, the global market is projected to reach USD 112.18 billion by 2021, at a CAGR of 5.30% from 2016 to 2021.
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mAbs are antibodies produced by a single clone of cells consisting of identical antibody molecules. Global Monoclonal Antibodies market continues to gain momentum with the rapid increase in adoption of these products for various indications. At present, there are forty-seven monoclonal antibody products have been approved in the United States or Europe for the treatment of a wide range of diseases, and many of these products have also been approved in the global markets. At the current approval rate of four new products releasing every year, approximately 70 monoclonal antibody products are expected to be present on the market by 2020.
Global Monoclonal Antibodies market is driven by increasing R & D activities in genomics, owing to rapid advancements of our understanding of disease at a molecular level. The development of new molecules is expected to play a prominent role in the future of the market due to the cost effectiveness of this technology. However huge cost and time associated with the identification and development of potential molecules is a major factor hindering the growth of the market.
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Some of the major companies dominating the market, by their products include GlaxoSmithKline plc (U.K.), Novartis AG (Switzerland), Pfizer Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Eli Lilly and Company (U.S.), Seattle Genetics (U.S.), Bristol-Myers Squibb (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel) and Shanghai Junshi Bioscience Co., Ltd. (China).
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The Global Monoclonal Antibodies Market Study covers:
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