Cancer Monoclonal Antibodies Market by Antibody Type (Murine, Chimeric, and Humanized), Application (Blood Cancer, Breast Cancer, Lung Cancer, and Others), End User (Hospitals and Clinics and Research and Academic Institutes/Laboratories), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031

LS : Healthcare

RA08638

Pages: 260

Feb 2023

Global Cancer Monoclonal Antibodies Market Analysis

The Global Cancer Monoclonal Antibodies Market Size was $55,640.00 million in 2021 and is predicted to grow with a CAGR of 7.0%, by generating a revenue of $106,825.10 million by 2031.

Global Cancer Monoclonal Antibodies Market Synopsis

The growing incidences of cancer among people globally are expected to drive the cancer monoclonal antibodies market share growth during the forecast time. Cancer is among the top chronic diseases which affect more than a million people and is responsible for many deaths across the world. Thus, to lower the severity caused by the disease, the demand for potent treatment options has increased which is expected to boost the demand for cancer monoclonal antibodies in the upcoming years.

The market growth is expected to be restricted owing to the non-availability of skilled professionals and researchers for developing cancer monoclonal antibodies for the treatment of cancer during the forecast period. Also, the high treatment cost of cancer is further expected to restrain the cancer monoclonal antibodies market growth in the future.

Increase in government support through an increase in funding for cancer monoclonal antibodies and expanded reimbursement policies to enable common people to benefit from newly developed cancer treatment aids in accelerating the market growth for cancer monoclonal antibodies during the forecast period.

According to regional analysis, the North America cancer monoclonal antibodies market accounted for a dominating market share in 2021. The regional growth is majorly attributed to extensive research going on in the field of cancer and treatment options like cancer monoclonal antibodies and chemotherapy by the researchers.

Cancer Monoclonal Antibodies Overview

Monoclonal antibodies (MABs) are a targeted drug therapy that is used for treating cancer in patients. These medications detect and locate certain proteins in cancer cells. MABs are used to treat cancer in a variety of ways. They function in various ways to either kill or inhibit the growth of cancer cells. Many types of cancers are treated using monoclonal antibodies. These antibodies are administered to patients via infusion and can be used alone or in conjunction with other cancer treatments. Depending on the antigen targeted, each monoclonal antibody functions in one or more ways.

COVID-19 Impact on Global Cancer Monoclonal Antibodies Market

The COVID-19 pandemic has had a negative impact on the cancer monoclonal antibodies industry. The pandemic has had a negative impact on cancer awareness, prevention, diagnosis, and treatment, owing to the lockdown, travel restrictions, and widespread fear. Cancer treatment using monoclonal antibodies became challenging during the pandemic period. The treatment was more challenging due to patients' poor or impaired immunity and vulnerability to infection. Certain cancer medications can lower immunity, exacerbating the negative effects if the patient is also impacted by COVID-19. During the COVID-19 pandemic, the pharmaceutical sector was more focused on developing a COVID-19 vaccination. Therefore, R&D activities for cancer monoclonal antibodies decreased, despite the fact that demand for cancer monoclonal antibodies was stable and robust before to the pandemic. Such factors are expected to drive the cancer monoclonal antibodies market share growth in the post-pandemic era.

Growing Prevalence of Cancer Globally Projected to Drive the Market Growth

The need for effective drugs and vaccines has increased due to the increase in the frequency of cancer cases worldwide and this has encouraged researchers and scientists to pace up their research activities and develop effective treatment options. Cancer is one of the leading causes of death, globally, and every year, cancer cases are increasing globally at a rapid rate. For instance, according to statistics by the National Cancer Institute, in 2020, approximately 18.1 million new cancer cases were reported and 9.5 million cancer-related deaths worldwide. It is expected that by 2040, the number of new cancer cases expected to reach up to 29.5 million and the number of deaths related to cancer to reach 16.4 million. Thus, the growing number of cancer cases, worldwide, has raised the demand for effective treatment therapy which is projected to boost the market growth during the forecast period.

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High Cost of Cancer Monoclonal Antibody Therapy to Restrain the Market Growth

The cancer monoclonal antibodies testing market size growth is expected to be hampered by a shortage of skilled professionals and unawareness among patients regarding the potential treatment choices for this ailment. Also, the high costs associated with the treatment of cancer using cancer monoclonal antibody targeted therapy are expected to limit the market growth. Many of the monoclonal antibody medicines required to treat cancer disease are costly, making it difficult for many people to afford this treatment option, particularly those living in rural areas. Therefore, the market is expected to suffer severely. All such factors are likely to hinder the cancer monoclonal antibodies market revenue growth during the forecast period.

Scientific Advancements in the R&D Field in Pharmaceutical and Biotechnology Field to Drive the Market Opportunities

Increase in R&D activities, government support for cancer projects, and a rise in demand for effective medicine and therapies for various chronic cancer types like breast cancer and liver cancer are factors contributing to the growth of the cancer monoclonal antibodies market share during the forecast period. Recently, the cancer monoclonal antibodies therapy has gained popularity among researchers and healthcare professionals as this therapy is a targeted therapy that directly interacts with cancer cells, thereby either controlling their growth or killing them. Also, the manufacturers prevalent in the pharmaceutical and biotechnological field are adopting various growth strategies to develop cancer monoclonal antibody therapy and also increase their share in the global market. For instance, on January 17, 2023, Leap Therapeutics, Inc., a global biotechnology company developing targeted and immuno-oncology therapeutics, announced its merger agreement with Flame Biosciences, Inc., a private biotechnology company. With this merger, Leap Therapeutics acquired Flame’s all monoclonal antibody projects including FL-301, its clinical stage anti-Claudin18.2 monoclonal antibody, FL-302, its preclinical anti-Claudin18.2/CD137 bispecific monoclonal antibody, and FL-501, its preclinical anti-GDF15 monoclonal antibody. All these factors are likely to create several growth opportunities for key players operating in the cancer monoclonal antibodies market growth during the forecast time.

To know more about global cancer monoclonal antibodies market opportunities, get in touch with our analysts here.

Global Cancer Monoclonal Antibodies Market, by Antibody Type

By antibody type, the market has been divided into murine, chimeric, and humanized. Among these, the murine segment accounted for a dominant market share in 2021 and the humanized segment is anticipated to show the fastest growth during the forecast period.