How Will The Anti Cancer MAbS Market Globally Expand In 2023?
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 anti cancer MAbS market report forecasts the anti cancer MAbS market size to grow to $91.12 Billion by 2027, with a CAGR (compound annual growth rate) of almost 10%.
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Anti Cancer MAbS Market Size Forecast
The global anti cancer MAbS market is expected to grow from $56.27 billion in 2022 to $62.47 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. 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 global anti-cancer MAbS market size is expected to reach $91.12 billion in 2027 at a CAGR of 9.9%.
North America held the largest anti cancer MAbS market share, and Asia Pacific was the fastest-growing region in 2022.
Key Anti Cancer MAbS Market Driver – Increase In The Prevalence Of Cancer Across The Globe
According to World Cancer Research Fund International, a UK-based not-for-profit organisation that conducts cancer prevention research, there would be 18.1 million active cancer cases worldwide in 2020, with 9.3 million cases in men and 8.8 million in women. As a result, the rising occurrence of cancer around the world is moving the anticancer mAbs market forward.
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Key Anti Cancer MAbS Market Trend – Product Innovations
To increase their market position, major firms in the anticancer mAbs market are introducing more effective and targeted cancer treatments, such as mAbs medications. For example, Roche Holding AG, a Swiss pharmaceutical corporation, launched PHESGO in May 2022. PHESGO (pertuzumab, trastuzumab, and hyaluronidase-zzxf) is a novel HER2-positive early breast cancer monoclonal antibody (mAb) combo treatment. It is a subcutaneous (under the skin) injection that combines the two monoclonal antibodies (mAbs) pertuzumab and trastuzumab with the enzyme hyaluronidase. The inclusion of hyaluronidase, an enzyme that aids in mAb absorption, permits the treatment to be administered subcutaneously rather than intravenously.
Anti Cancer MAbS Market Segment
1) By Type: Murine Antibodies, Chimeric Antibodies, Humanized Antibodies, Other Types
2) By Application: Blood Cancer, Breast Cancer, Lung Cancer, Melanoma, Colorectal Cancer, Liver Cancer, Other Applications
3) By End User: Hospitals, Research Institutes, Other End Users
Anti Cancer MAbS Market Major Players and Strategies
Major players in the anti cancer MAbS market are Amgen Inc., Bristol Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Genmab AS, GlaxoSmithKline PLC., Johnson & Johnson, Novartis AG, Merck & Co. Inc., Spectrum Pharmaceuticals Inc., AstraZeneca plc., Pfizer Inc., Roche Holding AG, Gilead Sciences, Bayer HealthCare, and ImmunoGen Inc.
Exelixis Inc., a genomics-based drug development business based in the United States, paid $5 million for GamaMabs Pharma SA in May 2021. Exelixis Inc. intends to integrate GamaMabs’ AMHR2 antibody technology to its existing drug product portfolio of GamaMabs and related manufacturing cell lines through the acquisition of GamaMabs’ AMHR2 antibody technology. GamaMabs Pharma SA is a biotechnology company established in France that focuses on creating novel monoclonal antibodies for the treatment of solid tumours.
The Anti Cancer MAbS Global Market Report 2023 covers regional data on anti cancer MAbS market size, anti cancer MAbS market trends and drivers, opportunities, strategies, and anti cancer MAbS market competitor analysis. The countries covered in the anti cancer MAbS 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.
Monoclonal antibodies (mAbs) are antibodies that are employed in monoclonal antibody treatment to target and eliminate cancer cells. These monoclonal antibodies (mAbs) are designed to bind to specific proteins or substances on the surface of cancer cells, limiting cancer growth and spread.
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