Monoclonal Antibody Therapy Market 2020 Global Trend, Segmentation and Opportunities, Forecast 2023
Growing Awareness about falling Immunity and Unhealthy Lifestyle likely to Push Global Monoclonal Antibody Therapy Market up to worth of US $ 140 bn by 2022
Monoclonal antibodies are laboratory-produced antibodies that are whose purpose is to serve as the substitute of natural antibodies that can enhance or repeat the immune system's attack on harmful cells. Market Research Future (MRFR) has published and released a research report about the global monoclonal antibody therapy market that estimates boost for this market at 10.5% CAGR (Compound Average Growth Rate) between 2016 and 2022. In terms of market value, the worth of global monoclonal antibody therapy market has been estimated to be the US $ 140 bn by the end of the forecast period.
Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include mergers and acquisitions, joint ventures, new product developments, research and developments (R&D), and strategic alliances.
The major factors strengthening the Global Monoclonal Antibody Therapy Market Growth are rising health awareness, an unhealthy lifestyle lowering the immunity of consumers and increasing spending on healthcare.
Key Players
The key players in the global monoclonal antibody therapy market include AbbVie Inc. (USA), Amgen Inc. (USA), Bayer AG (Germany), Biogen Inc. (USA), Bristol – Myers Squibb Company (USA), F. Hoffmann-La Roche Ltd. (Switzerland), GenScript (USA), GlaxoSmithKline PLC (UK), Johnson & Johnson (UK), Merck KGaA (Germany), Novartis AG (Switzerland), Pfizer Inc. (USA), Sanofi (France), and Sigma-Aldrich Co. LLC (USA).
Segmentations
The global monoclonal antibody therapy market has been segmented on the basis of application, end user, source, and lastly, region. The application-based segmentation segments this market into analytical & chemical uses, autoimmune diseases, cancer treatment, diagnostic test, hematological disorders, and others. Based on the end user, the market has been segmented into clinics, hospitals, research laboratories, and others. Regarding source, the market has been segmented into chimeric, human, humanized, recombinant, and other.
The regional segmentation of the global blood glucose test strip market segments the global market into regional markets known as The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa. North America is the largest regional market. In this region, the market is growing due to the presence of major manufacturers, technological advancement, and heavy research and development (R&D) with regards to the medical sector. The topmost country-specific markets in this region are USA and Canada. Many key market players are based in this region, especially in the USA. In South America, the market is smaller than North America as this region has less advanced medical facilities. The two strongest economies that can become suitable markets are Argentina and Brazil.
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Europe is the second largest regional market, and it is expected to grow during the forecast period. The factors backing the growth of this market include a high density of population, established healthcare sector, high level of technological advancement that is second only to North America, and presence of many key market players. The main country-specific markets in this region are the strongest economies known as France, Germany, and the UK, followed by the remaining countries of Europe.
The Asia Pacific is another significant market as healthcare sector is developing in countries like China and India. Advanced medical facilities and rapid technological advancement are available in Japan. The rural market in countries like China and India is still untapped which due to the high density of population can be a lucrative market once tapped into. Many key market players are based in this region too. During the forecast period, the Asia Pacific region is likely to emerge as the fastest growing regional market.
The MEA region has the least market share due to poor countries, lack of awareness, lack of education, low standard of medical facilities, lack of healthcare facilities, and majority governments not considering healthcare a priority.