Antibody Therapy Market is expected to reach US$ 727.78 Billion In 2032 - Comprehensive Research Report By FMI
DUBAI, United Arab Emirates, With an estimated CAGR of 12.8% during the projected period, the antibody therapy market share is expected to reach US$ 700 Billion by 2032, from US$ 186 Bn in a report published by FMI. The study finds that the rising demand for Humira proportionately reflects on the adoption of antibody therapy.
COVID-19 has caused the world to come to a halt. We know that this health crisis had a significant impact on businesses in all different types of businesses. The pandemic is expected to have an effect on almost every part of the economy. The healthcare industry had a big problem at the start of the supply chain.
Trade growth for mono clone antibody treatment has slowed down for the big players in the market. If you look at the information on monoclonal antibody therapy in the market, it's broken down into human monoclonal antibody, humanized antibody, a chimeric antibody, and murine monoclonal antibody treatment.
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The human monoclonal antibody segment was in charge of the top spot. The rise in sales and demand for Humira is propelling the antibody therapy market growth. Monoclonal antibody treatment is quickly becoming an effective and remarkable tool for treating long-term illnesses, especially cancer.
The desire for Regeneron IV treatment is becoming stronger, which has led to a rise in the sales of many drugs, including Herceptin and Humira, among others. This has led the biggest pharmaceutical companies to spend more money on research into monoclonal antibody IV treatment.
The pharmaceutical company AstraZeneca is running phase II medical tests on Tezepelumab, which could help treat atopic dermatitis. The antibody therapy market is also expected to be fuelled by people who are in the pipeline for jobs in the near future.
Biosimilars of existing mAb therapeutics are also helping in the antibody therapy market growth since the controlling bodies have given the go-ahead for them to come into the market.
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● Autoimmune disorders will continue to dominate the antibody therapy market throughout the projected period, owing to the global prevalence of rheumatoid arthritis, psoriatic arthritis, Crohn's disease, uveitis, and juvenile idiopathic arthritis.
● Additionally, the industry is fuelled by the availability of drugs like Humira, a completely human monoclonal antibody authorized by the US Food and Drug Administration for the treatment of rheumatoid arthritis.
● On the other hand, the utilization of IV monoclonal antibody treatment in the treatment of cancer is growing quickly, owing to increased approvals and significant investment in research efforts, which contribute to the segment's highest CAGR.
● According to end-user, hospitals generate the most income in the market due to rising patient choice in recent years due to the incidence of hospital-associated cases.
● Additionally, manufacturers of these therapeutics manage to expand their products' access to as many hospitals and patients as possible in order to meet their increased requirements, thereby fuelling segment growth and propelling the global antibody therapy market growth in the forecast period.
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Among other market participants, AbbVie Inc., Amgen, Bristol-Myers Squibb, GlaxoSmithKline plc, Takeda Pharmaceuticals, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Merck & Co, Inc., Seagen, Johnson & Johnson, Novartis AG, Regeneron Pharmaceuticals Inc., and AstraZeneca are major market participants in the antibody therapy market.
These market participants have implemented a number of strategic activities, including new product launches, acquisitions, and partnerships, which have bolstered their industry presence and assisted them in evolving into big industry players.
● Amgen and AstraZeneca announced the approval and commercialization of TEZSPIRE (tezepelumab-ekko) in January 2022 for the treatment of severe asthma. Such FDA clearance will enable the corporation to diversify its product line and generate significant income.
● Regeneron stated in November 2020 that the US Food and Drug Administration (FDA) had granted an Emergency Use Authorization (EUA) for its antibody cocktail casirivimab and imdevimab designed for COVID-19 therapy. This clearance boosted the company's revenue generation and aided in its acquisition of considerable market share.
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