LONDON--(BUSINESS WIRE)--The global monoclonal antibodies market is expected to post a CAGR of over 15% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the introduction of low-priced biosimilar monoclonal antibodies. The introduction of biosimilars aimed at curbing the increasing year-over-year cost of healthcare and handling the economic pressure from the patient pod and governments to reduce healthcare expenses could be instrumental in reducing the cost of medication and increasing patient access to treatment. A biosimilar is a copy of a biologic drug that has already been authorized for use and costs 20%-25% lesser than the originator biologic drug. The number of clinical trials for a biosimilar is comparatively lesser than that needed for the original biologic drug and this proves to be the reason for the low cost of a biosimilar.
This market research report on the global monoclonal antibodies market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing cases of diseases like cancer and immunological disorders as one of the key emerging trends in the global monoclonal antibodies market:
Global monoclonal antibodies market: Increasing cases of diseases like cancer and immunological disorders
Globally, the second major cause of deaths is cancer, and cancer cases have increased significantly in the past few years. This sudden increase in the cancer rate is said to have a genetic basis. The accumulation of mutant alleles in the population is responsible for such a tremendous rise in cancer cases across the globe. In addition to the genetic factors, urbanization, pollution, and lifestyle changes contribute to the rise in the incidences of cancer. In the west, the incidences of autoimmune disorders. inducing rheumatoid arthritis, multiple sclerosis, type 1 diabetes, inflammatory bowel disease, systemic lupus erythematosus, myasthenia gravis, and autoimmune thyroiditis have been increasing.
“The increased prevalence of cancers and immunological disorders is fueling the use and importance of monoclonal antibodies, which are among the effective treatments for such disorders. In the US, EU5, and Japan, governments issuing clear regulatory pathways and payers providing near-term growth opportunities for biologics are factors that are supporting the growth of biologics. In developing countries. the socioeconomic conditions characterized by poor financial access to high-priced biologics create non-consumption and untapped demand, thus leading to favorable long-term growth opportunities,” says a senior analyst at Technavio for research on cardiovascular and metabolic disorders.
Global monoclonal antibodies market: Segmentation analysis
This market research report segments the global monoclonal antibodies market by application (oncology, immunology, and hematology) and geographical regions (APAC, EMEA, and the Americas).
The oncology segment held the largest market share in 2017, accounting for over 47% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 71%. This region is expected to dominate the market through 2022.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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