2024-2033 Monoclonal Antibodies (MAs) Market Outlook: Unlocking Growth Potential
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What is the Anticipated CAGR of the Monoclonal Antibodies (MAs) Market Over the 2024-2033 Forecast Period?
The market size of monoclonal antibodies (mabs) has seen a considerable increase in recent years. It is projected to inflate from $234.37 billion in 2023 to $261.66 billion in 2024, experiencing a compound annual growth rate (CAGR) of 11.6%. The surge in growth during the historical period is linked to the widespread occurrence of chronic illnesses, increased investment in research and development, rising awareness about mabs, and an increasing elderly population.
The market for monoclonal antibodies (mabs) is anticipated to experience swift expansion in the coming years, with projections seeing it reaching $424.24 billion by 2028, growing at a compound annual growth rate (CAGR) of 12.8%. This growth over the forecast period can be tied to factors like the rise in therapeutic indications, personalized medicine, biosimilars and generics, combination therapies, pandemic readiness, and investments in biopharmaceuticals. Key trends shaping the market during this forecast period encompass advances in immunotherapy, the rise of subcutaneous administration and formulations, next-generation antibodies, digital health integration, and progress in biotechnology.
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What Are the Driving Forces Behind the Growth of the monoclonal antibodies (mas) Market?
The availability of biosimilar monoclonal antibodies at lower costs is propelling the expansion of the monoclonal antibody market. Their objective is to restrain the escalating healthcare costs while dealing with the economic strain from both patients and governments, all aimed at minimizing the expenses on drugs and broadening the scope of treatment accessibility. Biosimilars are medications fabricated to mimic the characteristics of already approved biological drugs. They come at 20%-25% lower prices than the original biologic drug. The rationale behind these pocket-friendly prices is the fewer clinical trials required for biosimilars as opposed to the original biologics. Particularly in India, a freshly introduced biosimilar policy named ‘Guidelines on Similar Biologics’, conceived by the Central Drugs Standard Control Organization (CSDCO), is anticipated to significantly uplift the Indian biosimilar drug industry.
What Are the Core Segments of the Monoclonal Antibodies (MAs) Market?
1) By Source: Murine, Chimeric, Humanized, Human
2) By Application: Anti-Cancer, Immunological, Anti-Infective Monoclonal Antibodies (MAs), Neuropharmacological, Cardiovascular And Cerebrovascular, Other Applications
3) By End Users: Hospitals, Private Clinics, Research Institute
What Are the Key Innovations Reshaping the Monoclonal Antibodies (MAs) Market?
In the recent past, the monoclonal antibody industry has seen numerous strategic initiatives. Industry-leading companies are strategically acquiring small and medium-sized businesses to diversify their product and service offerings. Vendors utilise strategic alliances, acquisitions, and business agreements to enhance their existing product range and geography. For instance, Sanofi S.A., a pharmaceutical and healthcare firm from France known for its drug discovery, development, manufacturing, and marketing, revealed a strategic alliance with Seagen Inc., an American pharmaceutical firm renowned for creating and marketing innovative, potent cancer treatments based on monoclonal antibodies, in March 2022. This partnership will utilise the exclusive monoclonal antibody (mAb) and antibody-drug conjugate (ADC) technologies of Seagen and Sanofi to design, develop, and sell ADCs for up to three cancer targets. Additionally, Boehringer Ingelheim, a German pharmaceutical company focused on research, announced a collaboration with MabGenesis, Inc., a Japanese biopharmaceutical company leading the development of therapeutic monoclonal antibody drugs for human diseases. This partnership between Boehringer Ingelheim and MabGenesis will result in the discovery and development of novel therapeutic monoclonal antibodies for a variety of diseases and strategic research and development plans. Companies in the sector are increasingly restructuring their portfolios and exploring profitable non-organic growth potentialities. Corporate balance sheets strengthening, liquid debt markets, and continued global favourable interest rates are also driving interest in mergers and acquisitions.
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What Regions Are Influencing the Dynamics of the Monoclonal Antibodies (MAs) Market?
North America was the largest region in the monoclonal antibodies (MAbS) market in 2023. The regions covered in the monoclonal antibodies (MABS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Monoclonal Antibodies (MAs) Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the monoclonal antibodies (mas) market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Monoclonal Antibodies (MAs) Market Include
1. Monoclonal Antibodies (MAs) Market Executive Summary
2. Monoclonal Antibodies (MAs) Market Segments
3. Monoclonal Antibodies (MAs) Market Size And Template Market Growth Rate
4. Key Monoclonal Antibodies (MAs) Market Trends
5. Major Monoclonal Antibodies (MAs) Market Drivers
……
25. Key Mergers And Acquisitions In The Monoclonal Antibodies (MAs) Market
26. Top Monoclonal Antibodies (MAs) Companies
27. Monoclonal Antibodies (MAs) Market Opportunities And Strategies
28. Monoclonal Antibodies (MAs) Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Biosimilar Monoclonal Antibodies Global Market Report 2024
Conjugated Monoclonal Antibodies Global Market Report 2024
Biosimilars Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/biosimilar-global-market-report
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