Biologics is fastest growing segment fueling the growth of Antibodies Market

 

Antibodies Market

Market Overview:

The global Antibodies Market is estimated to be valued at US$ 224,083.5 Mn in 2023 and is expected to exhibit a CAGR of 12.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Antibodies are proteins produced by the immune system that recognize and defend against viruses, bacteria, and other foreign invaders by binding to specific structures on the outside of the pathogens called antigens. Monoclonal antibodies are artificially produced in laboratories and can be tailored to bind to certain antigens to treat various diseases including cancers, autoimmune disorders, and infectious diseases.

 

Market key trends:

The biologics segment is projected to be the fastest growing segment in the antibodies market. Biologics is a newer class of medicines that are made from living cells rather than chemical compounds. They include recombinant antibodies and genetically engineered monoclonal antibodies that are used for treating various chronic diseases and cancers. The growing demand for biologics due to their high specificity and minimal side effects compared to conventional drugs and vaccines is expected to drive the growth of this segment in the antibodies market. Furthermore, continuous research and advancements for developing novel recombinant monoclonal antibodies targeting specific disease antigens is anticipated to boost the biologics segment during the forecast period.

Segment Analysis

The global antibodies market can be segmented based on product type, application, end user and region. Based on product type, the market is segmented into monoclonal antibodies, polyclonal antibodies, antibody drug conjugates, and bispecific antibodies. Among these, the monoclonal antibodies segment dominated the market in 2022 owing to widespread adoption of monoclonal antibody drugs for treatment of various diseases like cancer and autoimmune diseases. Monoclonal antibodies provide high specificity and affinity to target extracellular and cell surface antigens.

 

Key Takeaways

The Global Antibodies Market Size is expected to witness high growth, exhibiting CAGR of 12.9% over the forecast period, due to increasing prevalence of chronic diseases and rising healthcare expenditure.

 

Regional analysis

North America dominated the global antibodies market in 2022 with a share of over 35%, owing to presence of major market players, availability of advanced healthcare infrastructure, and rising awareness about antibody drugs. Asia Pacific is expected to exhibit fastest growth over the forecast period, due to growing healthcare spending, increasing disposable incomes, and growing incidence of chronic diseases like cancer.

 

Key players

Key players operating in the antibodies market include Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd. Novartis AG and Roche dominate the market with their widely adopted monoclonal antibody drugs like Avastin, Herceptin, Rituxan, Kadcyla etc.

Get More Insights Here

https://www.newsstatix.com/antibodies-market-size-share-growth-outlook-2023/

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