Published: Apr, 2017
The global monoclonal antibody therapeutics market features the dominance of established players and an increasing preference to consolidation from companies wanting to retain their consumer bases and profit margins amid looming patent expiries, says Transparency Market Research (TMR) in a recent report. A recent instance is the March 2016 collaboration between Boehringer Ingelheim and AbbVie. The collaboration aims to develop and commercialize the BI 655066 monoclonal biologic antibody in Phase 3 of development for the treatment of psoriasis.
Transparency Market Research states that the market will expand at a favorable 12.6% CAGR from 2016 to 2024, rising from a valuation of US$86.7 bn in 2015 to US$245.8 bn by 2024.
Cancer Therapeutic Segment to Lead in Terms of Monoclonal Antibody Consumption
Of the key therapeutic applications of monoclonal antibodies, including the treatment of cancer, infections, autoimmune diseases, ophthalmological diseases, and hematological diseases, the segment of autoimmune diseases, accounting for over 36% of the global market, dominated in 2015. The segmented is expected to retain dominance and exhibit a promising CAGR throughout the report’s forecast period as well. The segment of cancer treatment closely follows and is expected to account for over 37% of the overall market by 2024. The robust pipelines of monoclonal antibodies for cancer and autoimmune diseases along with their rising rate of incidence will be conducive to the future growth of these application segments.
From a geographical perspective, markets across North America and Europe hold the dominant share, with North America ranking first at 34.6% and Europe closely following at 28.5% of the global market in 2015. Presence of world’s leading pharmaceutical companies, rise in R&D activities to find novel treatments for treatment of cancer, and established healthcare infrastructures in North America and Europe are the key factors attributed to their dominance in the global market.
Increasing Number of Product Approvals and Rising Prevalence of Cancer Key to Growth
Over 60 monoclonal antibodies have been approved for commercialization in the U.S. and Europe till 2015, 48 out of which are used in the therapeutics area. The rising number of monoclonal antibodies suitable to treat a number of diseases other than the conventional target areas of autoimmune diseases and cancer is a key factor boosting the overall growth prospects of the global monoclonal antibody therapeutics market.
The market is also driven due to the worrying rise in the rate of incidence of a variety of cancers across developed, developing, and less developed economies. In a 2015 report, the WHO stated that around 14 mn new cancer cases were being detected and 8.2 mn cancer-related deaths were reported annually across the globe. Developing and less developed economies across Asia Pacific, Africa, and Latin America were reportedly hit the hardest in terms of a rising patient pool and morbidities from the condition. Conventional cancer treatment courses such as chemotherapy weaken the immune system of cancer patients, leading to the need for using monoclonal antibodies to enhance the immune system.
Easy Availability of Biosimilars to Pull down Profits of Monoclonal Antibody Manufacturers, Hamper Market Growth
The threat of easy and cheaper availability of generics is one of the key challenges that hampers the growth prospects of leading pharmaceutical companies across any application sector. The market for monoclonal antibodies is also facing the threat of biosimilars, which would start to foray into the commercial space as soon as patents of blockbuster drugs expire. Humira, one of the best-selling monoclonal antibodies in the world, faced a looming patent expiry on its main patent at the year-end of 2016. Biosimilars of monoclonal antibodies such as Remsima, Inflectraa, and Remicade have already been approved in the U.S. and Europe.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Monoclonal Antibody Therapeutics Market (Application - Cancer, Autoimmune Diseases, Infection, Hematological Diseases, Ophthalmological Diseases, and Others; Source - Human, Humanized, Chimeric, and Others; End User - Hospitals, Private Clinic and Research Institute) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2016 - 2024.”
For the study, the market has been segmented as follows:
Monoclonal Antibody Therapeutics Market, by Application
- Autoimmune diseases
- Hematological diseases
- Ophthalmological diseases
Monoclonal Antibody Therapeutics Market, by Source
Monoclonal Antibody Therapeutics Market, by End Users
- Private Clinics
- Research Institute
Monoclonal Antibody Therapeutics Market, by Geography
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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