Global Monoclonal Antibody Therapeutics Market: Spike
in Cancer Cases around the World to Ensure Swift
Uptake, predicts TMR
Several market players are collaborating with local and well-established companies and research facilities
to strengthen their position. Transparency Market Research has observed that companies will continue to
partner in order to reduce the high cost involved in the production of monoclonal antibodies, investments in
research and development, and need for trained staff. Some of the leading players operating in the
demanding global market are Bayer AG, Pfizer Inc., Sanofi, F. Hoffmann-La Roche Ltd., Merck & Co., Inc.,
GlaxoSmithKline Plc., Novartis AG, and AbbVie Inc.
The extensive research report by Transparency Market Research states that the global monoclonal
antibody therapeutics market will be worth US$245.8 bn by 2024 from US$86.7 bn in 2015. During the
forecast years of 2016 and 2024, the global market is expected to rise at a CAGR of 12.6%.
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Access to Affordable Healthcare across North America Amplifies Demand for Monoclonal Antibody
Therapeutics
Monoclonal antibody therapeutics are used for treating cancer, autoimmune diseases, infection,
ophthalmological diseases, and hematological diseases among others. Of these, the autoimmune diseases
segment is projected to rise at a phenomenal pace during the forecast period. Increasing incidence of
autoimmune diseases that affect the overall population has triggered a significant demand for these
therapeutics. All throughout the forecast period of 2016 and 2024, the global market is expected to rise at
a CAGR of 13.5%.
In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, Latin
America, and the Middle East and Africa. Regionally, North America is expected to dominate the global
market due to growing healthcare facilities across the region. Furthermore, affordable healthcare available
to patients has also augmented the demand for monoclonal antibody therapeutics across North America
during the forecast period. By the end of 2024, the North America monoclonal antibody therapeutics market
is expected to acquire a share of 37.9% in the global market.
Approvals and Commercialization of New Products Ups Sales
The global monoclonal antibody therapeutics market is expected to grow at a remarkable pace due to the
high incidence of chronic diseases like cancer. The growing health concerns and the increasing diagnoses
of cancer in various stages as boosted the demand for these therapeutics in recent years. The latest