by The global Monoclonal Antibody Therapeutics Market is estimated to be valued at US$ 205,385.6 Mn in 2022 and is expected to exhibit a CAGR of 12.69% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
- A) Market Overview:
Monoclonal antibody therapeutics are laboratory-produced proteins that mimic the immune system’s ability to fight off harmful pathogens such as bacteria and viruses. These therapeutics offer several advantages over traditional treatment options, including high specificity, low toxicity, and a reduced risk of side effects. They are widely used in the treatment of various diseases, including cancer, autoimmune disorders, and infectious diseases.
- B) Market Key Trends:
One key trend in the Monoclonal Antibody Therapeutics Market is the increasing adoption of targeted therapies. Targeted therapies use monoclonal antibodies to specifically target and block the action of proteins involved in disease progression. This approach offers a more personalized treatment option and has shown promising results in the treatment of various cancers, including breast cancer, lung cancer, and colorectal cancer.
For example, Herceptin (trastuzumab), a monoclonal antibody therapy, is approved for the treatment of HER2-positive breast cancer. This targeted therapy specifically targets the HER2 protein, which is overexpressed in approximately 20% of breast cancer cases, and has been shown to significantly improve survival rates in patients with HER2-positive breast cancer.
- C) Porter’s Analysis:
– Threat of new entrants: The monoclonal antibody therapeutics market has high entry barriers due to the complex and expensive manufacturing process, stringent regulatory requirements, and the need for extensive research and development. This reduces the threat of new entrants in the market.
– Bargaining power of buyers: The bargaining power of buyers is relatively high in the Monoclonal Antibody Therapeutics Market due to the presence of multiple manufacturers and the availability of alternative treatment options. Buyers have the ability to choose from a range of products and negotiate prices.
– Bargaining power of suppliers: The bargaining power of suppliers is moderate in the market as there are a limited number of suppliers of raw materials and equipment required for the production of monoclonal antibodies. However, the presence of multiple manufacturers provides some leverage to the suppliers.
– Threat of new substitutes: The threat of new substitutes is low in the monoclonal antibody therapeutics market due to the unique advantages offered by these therapeutics, such as high specificity and low toxicity. Traditional treatment options often have limited efficacy and can cause significant side effects.
– Competitive rivalry: The competitive rivalry in the market is high due to the presence of several key players, including Pfizer Inc., Novartis AG, Bayer AG, Sanofi, and F. Hoffmann-La Roche Ltd. These players are focusing on research and development activities to develop innovative monoclonal antibody therapies and maintain their market position.
- D) Key Takeaways:
– The global monoclonal antibody therapeutics market is expected to witness high growth, exhibiting a CAGR of 12.69% over the forecast period, due to the increasing adoption of targeted therapies. These therapies offer personalized treatment options and have shown promising results in the treatment of various diseases, including cancer and autoimmune disorders.
– The fastest growing and dominating region in the market is North America, followed by Europe and Asia Pacific. North America is a major market for monoclonal antibody therapeutics, attributed to the presence of well-established healthcare infrastructure, high healthcare expenditure, and increasing prevalence of chronic diseases in the region.
– Key players operating in the global monoclonal antibody therapeutics market include Pfizer Inc., Novartis AG, Bayer AG, Sanofi, F. Hoffmann-La Roche Ltd, Eli Lilly and Company, and Merck KGaA. These players are focusing on strategic collaborations, mergers and acquisitions, and product launches to expand their product portfolios and consolidate their market position.
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