Cancer Monoclonal Antibody Market (Antibody Type - Murine, Chimeric, and Humanized; Application - Blood Cancer, Breast Cancer, Lung Cancer, and Others; End User - Hospitals and Clinics, and Research and Academic Institute/Laboratories): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on cancer monoclonal antibody market provides in-depth analysis of segments and sub-segments in the global as well as regional cancer monoclonal antibody market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cancer monoclonal antibody market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global cancer monoclonal antibody market.

Market Insight:

The cancer monoclonal antibody market was valued at USD 51.2 billion in 2022 and is expected to reach USD 93.5 billion in 2030, with a CAGR of 6.8% during the forecast period 2023-2030.

The global market for cancer monoclonal antibodies revolves around the creation and administration of diverse cancer treatments. Monoclonal antibodies are a specialized form of targeted drug therapy that operates by identifying and targeting specific proteins found in cancer cells. This approach encompasses multiple monoclonal antibodies designed to combat cancer cells in distinct ways, inhibiting their growth and preventing future proliferation. These antibodies are recognized as a form of immunotherapy for individuals grappling with cancer. Scientists worldwide are diligently working on generating lab-made monoclonal antibodies that emulate the actions of natural antibodies. Once introduced into the body, these antibodies are capable of pinpointing cancer cells and launching targeted attacks against them. This therapy employing monoclonal antibodies represents precision treatment, directed towards a precise purpose.

The increasing prevalence of cancer serves as a major catalyst for the expansion of the market. The escalating worldwide occurrence of cancer fuels the need for inventive treatments. Monoclonal antibodies offer fresh and efficient choices for diverse cancer types, driving higher demand within the market. The benefits of targeted therapy drive market growth. Monoclonal antibodies provide precision in therapy, reducing harm to healthy cells and minimizing side effects when contrasted with conventional treatments such as chemotherapy. This focused strategy significantly improves the efficacy of cancer treatment. The high costs associated with the development, production, and administration of monoclonal antibodies act as a hindrance to the market's expansion. The field of personalized medicine presents significant growth prospects for the market. The progress in genomics and personalized medicine creates avenues to customize monoclonal antibody therapies according to individual patients, considering their genetic and molecular characteristics.

The market for cancer monoclonal antibodies is dominated by North America owing to growing geriatric population accompanied by rising cancer cases. According to association of pharmaceutical industry in August 2022, the U.S. continues to lead in the top pharmaceutical market, which is boosting the manufacturing of medicines. Food heavy in fats, proteins, and calories may also impair the body's capacity for healthy and efficient functioning, raising the risk of cancer. Saturated fat-rich diets are now known to increase the risk of breast cancer. According to the American Cancer Society, in the U.S., 609,820 cancer-related deaths are anticipated to occur by the end of 2023, comprising 1.9 million new cases (or 5,370 cases per day) and 1,670 cancer-related deaths each day, so the demands for cancer monoclonal antibodies ultimately rising continuously, which help the market to expand. Also, the U.S. has increased its spending on R&D by 12.7 % in 2023 to 2022, thereby the innovation in the cancer monoclonal antibodies and innovation of different cancer diagnosis technologies will also increase, which indicates the scope for Cancer Monoclonal Antibody Market to expand.

Report Scope of the Cancer Monoclonal Antibody Market:

Segment Covered

The report on global cancer monoclonal antibody market covers segments such as antibody type, application, and end user. On the basis of antibody type, the sub-markets include murine, chimeric, and humanized. On the basis of application, the sub-markets include blood cancer, breast cancer, lung cancer, and others. On the basis of end user, the sub-markets include hospitals and clinics, and research and academic institute/laboratories.

Companies Profiled:

The report provides profiles of the companies in the market such as Genentech, Inc., Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Novartis AG, Par Pharmaceutical, CELGENE CORPORATION, Merck & Co., Inc., Bristol-Myers Squibb Company, Roche Holding AG, and AstraZeneca.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cancer monoclonal antibody market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.