Monoclonal Antibodies MAbS Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Monoclonal Antibodies MAbS Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, December 12, 2023 /EINPresswire.com/ — The global monoclonal antibodies (MAbS) market, meticulously segmented by source, application, and end-users, is witnessing robust growth trends. The market, valued at $188.18 billion in 2022, surged to $209.98 billion in 2023, achieving a commendable compound annual growth rate (CAGR) of 11.6%. Projections indicate sustained momentum, with the market expected to reach $330.35 billion by 2027, growing at a CAGR of 12.0%.
Driving Forces: Biosimilars Paving the Way for Cost-Efficiency
The monoclonal antibody market is experiencing a surge propelled by the increasing prevalence of cost-efficient biosimilar monoclonal antibodies. Biosimilars, designed to address rising healthcare costs, respond to economic pressures from patients and governments urging reductions in medication costs and enhanced treatment accessibility. These pharmaceuticals, mimicking the properties of approved biological drugs, present a cost-effective alternative, with biosimilar monoclonal antibodies costing 20%-25% less than their original counterparts. The streamlined clinical trials for biosimilars contribute to their lower costs, offering a significant advantage. Notably, India’s introduction of the ‘Guidelines on Similar Biologics’ is anticipated to bolster the Indian biosimilar drugs industry.
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Strategic Initiatives and M&A Fuel Growth
The monoclonal antibody market has become a hub for strategic initiatives, with top companies strategically acquiring start-ups and mid-sized companies to expand their product and service offerings. Collaborations, acquisitions, and partnership agreements enable vendors to broaden their portfolios and extend their geographical reach. For instance, Sanofi S.A. collaborated with Seagen Inc. to leverage their monoclonal antibody and antibody-drug conjugate technologies for cancer targets. Similarly, Boehringer Ingelheim collaborated with MabGenesis, Inc., to develop therapeutic monoclonal antibodies for various diseases, showcasing the industry’s commitment to innovation.
Regional Dynamics: North America Leading the Charge
In 2022, North America emerged as the largest region in the monoclonal antibodies (MAbS) market. The region’s continued dominance, fueled by technological advancements and a robust focus on innovation, positions it as a key contributor to the global market. North America is also expected to be the fastest-growing region in the forecast period, demonstrating sustained leadership.
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Monoclonal Antibodies (MAbS) Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Monoclonal Antibodies (MAbS) Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on monoclonal antibodies (MAbS) market size, monoclonal antibodies (MAbS) market drivers and monoclonal antibodies (MAbS) market trends, monoclonal antibodies (MAbS) market major players, monoclonal antibodies (MAbS) market competitors’ revenues, market positioning, and market growth across geographies. The monoclonal antibodies (MAbS) market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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