The Cancer Monoclonal Antibodies Market to Grow at Highest Pace Owing to Increasing Cancer Incidence
The Cancer Monoclonal Antibodies Market to Grow at Highest Pace Owing to Increasing Cancer Incidence
Blog Article
The cancer monoclonal antibodies market involves therapeutic antibodies that bind to specific cancer cells and inhibit the spread and growth of cancer. Some key applications of monoclonal antibodies include treatment of breast, lung, blood and other cancers. Monoclonal antibodies work by targeting specific cancer cells whilst avoiding damage to normal cells. They can be administered alone or in combination with other drugs to maximize the effectiveness of cancer treatment.
The global cancer monoclonal antibodies market is estimated to be valued at US$ 96.68 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period of 2024 to 2031.
Key players operating in the cancer monoclonal antibodies market are Abnova Corporation, BioGenex, Bio-Rad Laboratories, Inc., AMSBIO, Elabscience Bionovation Inc., Fortis Life Sciences, Creative Diagnostics, Rockland Immunochemicals, Inc., GenScript, Leinco Technologies, Abcam Limited, and Sino Biological, Inc.
Cancer Monoclonal Antibodies Market Size have various advantages over traditional cancer treatment methods as they provide highly targeted treatment with minimum side effects. Rising incidences of different types of cancers along with growing geriatric population are major demand drivers for monoclonal antibodies in cancer treatment.
Key Takeaways
Key players in the cancer monoclonal antibodies market are focusing on developing novel monoclonal antibodies for the treatment of various cancers. For instance, Abnova Corporation recently launched a new monoclonal antibody for the detection of ARID1A protein in immunohistochemistry assays. ARID1A protein mutations are found in certain cancers like ovarian clear cell carcinomas.
The Cancer Monoclonal Antibodies Market Size and Trends is witnessing strong growth in demand owing to increasing prevalence of different cancer types globally. According to WHO, cancer burden has risen to 18.1 million new cases and 9.6 million deaths in 2018. This growing cancer incidence rate is propelling the demand for targeted therapies like monoclonal antibodies.
Technological advancements are also boosting the cancer monoclonal antibodies market. Manufacturers are developing monoclonal antibodies with enhanced binding affinity, less immunogenicity and more selectivity. Combination therapies using monoclonal antibodies along with chemotherapy and other drugs are demonstrating improved clinical efficacy against various tumor types.
Market Trends
1. Biosimilars of blockbuster cancer monoclonal antibodies: With patents of major blockbuster monoclonal antibodies set to expire, biosimilar versions are being developed by many companies. This will increase treatment accessibility while reducing costs.
2. Conjugated monoclonal antibodies: Manufacturers are developing monoclonal antibodies conjugated to cytotoxic molecules to enhance target cell killing ability. Examples include antibody-drug conjugates and radioimmunotherapy using radioisotope-conjugated antibodies.
Market Opportunities
1. Untapped emerging markets: Middle East, Africa and Asia Pacific regions offer immense opportunities for cancer monoclonal antibodies market due to improving access and healthcare spending in these areas.
2. New therapeutic monoclonal antibodies in pipeline: Many novel monoclonal antibodies targeting different cancer pathways are in clinical trials. Their approvals will provide major growth opportunities over the coming years.
Impact of COVID-19 on Cancer Monoclonal Antibodies Market
The COVID-19 pandemic has significantly impacted the growth of the Cancer Monoclonal Antibodies market. Cancer treatment facilities across major countries faced disruptions in 2020 and 2021 due to restrictions imposed to contain the spread of the virus. This led to delays in cancer screening and diagnosis procedures globally. The number of new cancer cases reported reduced significantly during this period. The demand for cancer monoclonal antibodies also witnessed a decline as cancer treatment was limited to emergency cases only.
However, with the rollout of vaccination drives in 2021, cancer care facilities resumed operations gradually. The focus is now on clearing backlogs and catching up with delayed cancer screenings. It is estimated that there would be an increased cancer diagnosis in the coming years as the hidden burden of the pandemic surfaces. This is expected to drive the demand for monoclonal antibody therapies to treat various cancers like lung cancer, breast cancer, blood cancer, etc.
Manufacturers in the cancer monoclonal antibodies market are focusing on strengthening their supply chains and boosting production capacities to cater to the expected rise in demand going forward. Additionally, investments are being made in the research & development of next-generation monoclonal antibody drugs with higher efficacy and novel mechanisms of action. Partnerships between drug makers are also on the rise to expand geographic presence and ensure stable supplies.
Geographical Regions with High Concentration of Cancer Monoclonal Antibodies Market
North America accounts for the largest share of the global cancer monoclonal antibodies market in terms of value. This is attributed to the high adoption of cutting-edge cancer treatment options and presence of major market players in the US. The region is expected to continue dominating the market during the forecast period driven by rising healthcare expenditure and increasing cancer prevalence.
Asia Pacific is projected to be the fastest-growing regional market owing to the growing geriatric population, expanding medical infrastructure, and rising disposable incomes in major countries like China and India. The APAC region offers significant growth opportunities for monoclonal antibody manufacturers given the large cancer population and increasing focus on enhancing access to advanced therapies.
Fastest Growing Regional Market for Cancer Monoclonal Antibodies
The Asia Pacific region is poised to emerge as the fastest-growing regional market for cancer monoclonal antibodies over the next decade. Factors such as the huge patient population, rising healthcare investments by governments and private players, growing public awareness about cancer treatment options are fueling the APAC market growth.
In particular, China and India will majorly drive the cancer monoclonal antibodies demand in the Asia Pacific region. The presence of biosimilar manufacturers and expanding biologics production capabilities in these countries ensure stable supply and easier accessibility of monoclonal drugs. Furthermore, initiatives aimed at enhancing access to cancer care in rural and far-flung areas will help accelerate the APAC market's expansion from 2024 to 2031.
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