Monoclonal Antibody Therapy Market 2024 - Industry Size, Analysis, Researches, Trends and Forecasts to 2031
The global Monoclonal Antibody Therapy market, valued at USD 87.8 billion in 2023, is projected to witness substantial growth, reaching USD 230.38 billion by 2031. This growth represents a robust compound annual growth rate (CAGR) of 12.8% during the forecast period from 2024 to 2031.
Monoclonal antibodies (mAbs) play a pivotal role in the treatment of various diseases, including cancer, autoimmune disorders, infectious diseases, and more. They are highly specific and can target specific cells or proteins involved in disease processes, offering targeted therapy with reduced side effects compared to traditional treatments.
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Key factors driving the market growth include:
- Increasing Prevalence of Chronic Diseases: The rising incidence of cancer, autoimmune diseases, and infectious diseases globally is fueling the demand for effective therapeutic options, driving the adoption of monoclonal antibody therapies.
- Advancements in Biotechnology: Continuous advancements in biotechnology, particularly in antibody engineering and production technologies, are enhancing the efficacy and therapeutic potential of monoclonal antibodies.
- Expanding Applications in Oncology: Monoclonal antibody therapies are extensively used in oncology for targeted cancer treatment, contributing significantly to market growth.
Key Market Segmentation
Source Type
- Murine
- Chimeric
- Humanized
- Human
Application Type
- Oncology
- Autoimmune Diseases
- Infectious Diseases
- Others
Production Type
- In Vivo
- In Vitro
End-Use Outlook
- Hospitals
- Speciality Centers
Geographically, North America and Europe are expected to dominate the Monoclonal Antibody Therapy market, owing to well-established healthcare infrastructure, extensive research and development activities, and high adoption rates of advanced therapies. Meanwhile, Asia-Pacific is anticipated to witness rapid growth, driven by increasing healthcare expenditure, rising prevalence of chronic diseases, and improving access to healthcare.
Leading pharmaceutical companies and biotechnology firms are actively investing in research and development of monoclonal antibody therapies, focusing on expanding therapeutic indications and improving treatment outcomes.
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