According to the latest report by IMARC Group, titled "Cancer Monoclonal Antibodies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global cancer monoclonal antibodies market is currently witnessing strong growth. Cancer monoclonal antibodies refer to laboratory-produced molecules that are designed to treat cancer. These proteins are engineered to mimic the role of antibodies that are naturally produced by the human body to aid the immune system in fighting cancer cells. They further bind to the antigens that are present on the surface of cancer cells, trigger the destruction of cell membranes and block cell growth by obstructing the connection with growth-promoting proteins. As a result, numerous monoclonal antibodies, including murine, chimeric and humanized antibodies, are widely used in the treatment of liver, blood and breast cancer.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cancer Monoclonal Antibodies Market Trends:
The market is primarily driven by the rising prevalence of cancer on the global level. This has increased the requirement for efficient cancer treatments, owing to which monoclonal antibody therapy is gaining prominence in the healthcare sector. Its clinical usage is widely associated with improved outcomes as compared to other forms of cancer therapies. Unlike conventional treatments, such as radiotherapy and chemotherapy, monoclonal antibodies target the cancer cells while leaving the healthy cells unaffected, which minimizes the side effects. The advent of next-generation sequencing (NGS) and target gene selection is acting as another major growth-inducing factor. These technologies have led to the development of cost-effective monoclonal antibodies, which are gaining widespread preference among healthcare professionals. Extensive research and development (R&D) activities in genomics, coupled with the rising healthcare expenditure and investments by government and private entities, are expected to provide an impetus to the market growth. On account of the aforementioned factors, the market is projected to grow at a CAGR of more than 10% during 2020-2025.
- On the basis of the antibody type, the market has been divided into murine antibodies, chimeric antibodies, humanized antibodies and others.
- Based on the medication type, the market has been classified into Bevacizumab (Avastin), Rituximab (Rituxan), Trastuzumab (Herceptin), Cetuximab (Erbitux), Panitumumab (Vectibix) and others.
- On the basis of the application, the market has been categorized into breast, blood, liver, brain, colorectal and other kinds of cancers.
- Based on the end users, the market has been segmented into hospitals and clinics, pharmacies, research laboratories and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include AbbVie Inc., Amgen Inc., Bristol-Myers Squibb, Eli Lilly and Company, Genmab A/S, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Merck & Co., Inc., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd, Seattle Genetics, Inc., and Spectrum Pharmaceuticals, Inc.
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