The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cancer monoclonal antibodies market report forecasts the cancer monoclonal antibodies market size to grow to $98.11 Billion by 2027, with a CAGR (compound annual growth rate) of 12%.

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Cancer Monoclonal Antibodies Market Size Forecast

The global cancer monoclonal antibodies market is expected to grow from $56 billion in 2022 to $62.46 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cancer monoclonal antibodies market is expected to grow from $98.11 billion in 2027 at a CAGR of 12.0%.

Key Cancer Monoclonal Antibodies Market Driver ­– Rise In The Number Of Cancer Cases Globally

For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the cancer monoclonal antibody market.

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Key Cancer Monoclonal Antibodies Market Trend – Product Innovation

Companies in the cancer monoclonal antibody market are increasing their product innovation through strategic collaborations. To sustain themselves in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with academic and research institutions in this market by way of partnerships and in- or out-licensing deals, this trend has been increasing over the past few years. For instance, in September 2020, AbbVie and I-Mab entered into a strategic partnership for the development and commercialization of lemzoparlimab (also known as TJC4), which is a monoclonal antibody drug used to treat multiple cancers.

Cancer Monoclonal Antibodies Market Segment

1) By Monoclonal Antibody Therapies: Bevacizumab (Avastin), Rituximab (Rituxan), Trastuzumab (Herceptin), Cetuximab (Erbitux), Panitumumab (Vectibix), Other Monoclonal Antibody Therapies

2) By Application: Breast Cancer, Blood Cancer, Liver Cancer, Brain Cancer, Colorectal Cancer, Other Applications

3) By End User: Hospitals And Clinics, Research Laboratories, Pharmacies, Other End Users

Cancer Monoclonal Antibodies Market Major Players and Strategies

Major players in the cancer monoclonal antibodies market are Amgen, Bristol Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Genmab AS, GlaxoSmithKline, Johnson & Johnson, Novartis AG, Merck & Co., and Spectrum Pharmaceuticals.

In March 2020, Gilead Sciences, a US-based biopharmaceutical company, announced its decision to acquire Forty Seven for $4.9 billion. This acquisition is expected to strengthen Gilead’s immuno-oncology R&D portfolio with the addition of Forty Seven’s investigational lead product candidate, magrolimab. Magrolimab is a monoclonal antibody in clinical development for the treatment of several cancers. Forty Seven Inc. is a clinical-stage immuno-oncology company that develops therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on technology licenced from Stanford University.

The Cancer Monoclonal Antibodies Global Market Report 2023 covers regional data on cancer monoclonal antibodies market size, cancer monoclonal antibodies market trends and drivers, opportunities, strategies, and cancer monoclonal antibodies market competitor analysis. The countries covered in the cancer monoclonal antibodies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cancer monoclonal antibodies refer to a particular class of protein created in a lab that has the ability to bind to certain bodily targets, such as antigens on the surface of cancer cells. Each monoclonal antibody is designed to bind to a single antigen, and there are many different types of monoclonal antibodies.

View More Reports Related To The Cancer Monoclonal Antibodies Market –

Breast Cancer Monoclonal Antibodies Global Market Report 2023

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