(PharmaNewsWire.Com, May 19, 2021 ) Cancer Monoclonal Antibodies Market size is estimated to reach $69.3 Billion by 2025, growing at a CAGR of 10.2% during the forecast period 2020-2025. Monoclonal Antibody are made by cloning a unique white blood cell. These are molecules produced in laboratory; engineered to serve as substitute antibodies that can restore and also enhance the immune system’s attack on cancer cells. Technological advancements in genetic sequencing and target gene selection, growing preference towards the specificity of monoclonal antibodies to target cancer, rise in the government initiatives, increase in the female geriatric population, rise in the prevalence of breast cancer and rise in the adoption of unhealthy lifestyle are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
Cancer Monoclonal Antibodies Market Segment Analysis - By Type
Based on the Type, the Murine Antibodies segment held the largest share in 2019 owing to the factors such as, prominent role in the development of modern antibody production techniques and enhancing the potential of use of immunoglobins for various applications. It also enhances the serum half-life of mAbs, which is driving the demand for these antibodies. Humanized Antibodies is set to be the fastest growing with a CAGR of 10.7% during the forecast period 2020-2025 owing to incorporation of advanced technologies such as phase or yeast display.
Cancer Monoclonal Antibodies Market Segment Analysis - By Application
Based on the Application, Breast Cancer segment held the largest share in 2019 owing to the factors such as growing exposure to harmful radiation, lack of physical exercise, rise in the adoption of unhealthy lifestyle, increase in the investment by the major companies, growing government initiatives and rise in the female geriatric population. It is also set to be growing with a fastest CAGR during the forecast period 2020-2025.
Cancer Monoclonal Antibodies Market Segment Analysis - By Geography
Based on the Geography, North America held the largest share in 2019 with share of 36.4%. The growth in this segment is owing to the factors such as technological advancements in genetic sequencing and target gene selection, rise in the investment by the major players and rise in the female geriatric population. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as rise in the government initiatives, rising prevalence of cancer and growing preference towards the specificity of monoclonal antibodies to target cancer.
Growing preference towards the specificity of monoclonal antibodies to target cancer
The growing preference towards the specificity of monoclonal antibodies to target cancer is estimated to enhance the growth of Cancer Monoclonal Antibodies Market. Advancements in technology and rise in the female geriatric population are also the factors which enhance the growth of Cancer Monoclonal Antibodies Market.
Increase in the investment in research and development activities of genomic studies
There is a rapid rise in the investment in research and development activities of genomic studies owing to the growing demand. This led to rapid increase in the growth of Cancer Monoclonal Antibodies Market. Rise in the prevalence of breast cancer is also estimated to enhance the growth of the Cancer Monoclonal Antibodies Market.
Cancer Monoclonal Antibodies Market Challenges
High costs
High costs involved in the development of these monoclonal antibodies for the treatment of cancer is one of the major factors that is estimated to reduce the growth of the Cancer Monoclonal Antibodies Market. The growing need of additional cell culture and purification procedures is also said to reduce the growth of the Cancer Monoclonal Antibodies Market.
Cancer Monoclonal Antibodies Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Cancer Monoclonal Antibodies Market. Key companies of this market are ImmunoGen Inc, GlaxoSmithKline, Merck & Co Inc, Spectrum Pharmaceuticals, Novartis AG, Amgen Inc, Roche Holding, Seattle Genetics, Lifeline Scientific, Eli Lilly and Company, among others.
Acquisitions/Product Launches:
In 2016, ImmunoGen Inc has entered into an agreement with Merck for the assessment of mirvetuximab soravtansine for the treatment of patients with FRα-positive ovarian cancer.
In 2020, Merck has launched trastuzumab biosimilar, which is a monoclonal antibody used to treat certain breast cancers.
Key Takeaways
Geographically, North America Cancer Monoclonal Antibodies Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The growing preference towards the specificity of monoclonal antibodies to target cancer is likely to aid in the market growth of Cancer Monoclonal Antibodies Market.
High cost of products is the constraint likely to affect the growth of the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Cancer Monoclonal Antibodies Market report.
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