The cancer monoclonal antibodies market has witnessed significant growth in recent years owing to increasing prevalence of various types of cancers and growing demand for targeted therapy. Monoclonal antibodies help identify and attack specific cancer cells while sparing healthy cells. Some of the key advantages of monoclonal antibodies include high specificity and minimal side effects compared to traditional treatments.

The global cancer monoclonal antibodies market was valued at approximately US$ 96.68 billion in 2024 and is anticipated to expand at a CAGR of around 15.4 % during the forecast period of 2024-2031.

Key Takeaways

Key players operating in the cancer monoclonal antibodies market include Abnova Corporation, BioGenex, Bio-Rad Laboratories, Inc., AMSBIO, Elabscience Bionovation Inc., Fortis Life Sciences, Creative Diagnostics, Rockland Immunochemicals, Inc., GenScript, Leinco Technologies, Abcam Limited, and Sino Biological, Inc. Some of the major players dominate the market owing to their diverse product portfolio and strong global presence.

Cancer Monoclonal Antibodies Market Demand for targeted therapy coupled with increasing prevalence of cancer cases globally is a key factor driving the market. According to WHO, cancer is the second leading cause of death globally and was responsible for nearly 10 million deaths in 2020. This rising disease burden has increased focus on targeted therapeutic options such as monoclonal antibodies.

Furthermore, major players are focused on expanding their presence in emerging markets of Asia Pacific, Latin America, and Middle East & Africa to tap the growth opportunities in these regions. Increasing healthcare investments by various governments is also expected to positively impact the adoption of monoclonal antibodies in the global market over the forecast period.

Market key trends

One of the key Cancer Monoclonal Antibodies Market Size and Trends is witnessed in the market is the rising focus on development of biosimilar monoclonal antibodies. Biosimilar antibodies offer significant cost benefits compared to original antibodies and expand access to cancer care globally. With patent expiry of major therapies, various pharmaceutical companies are gaining approval for biosimilar monoclonal antibodies, which is estimated to lower the overall cost of cancer care and increase affordability of treatment over the forecast period.

Porter’s Analysis

Threat of new entrants: High capital requirements inhibits many new companies from entering the market.

Bargaining power of buyers: Cancer Monoclonal Antibodies have few substitutes so pharmaceutical companies have some bargaining power over buyers.

Bargaining power of suppliers: As there are several big players, suppliers have less bargaining power over pharmaceutical companies.

Threat of new substitutes: New targeted therapies and increasing trend towards personalized medicine pose threat of substitution.

Competitive rivalry: Competition is high among major players to gain market share through new product launches and geographical expansion.

Geographical regions

North America dominates the global market accounting for a share of around 50% in terms of value due to high prevalence of cancer, strong reimbursement structure, and new product approvals. Asia Pacific is the fastest growing region due to increasing healthcare spending, rising cancer incidence, growing generics market and patient pool in major countries like China and India

Geographical Regions

The global market is dominated by North America with a share close to 50% in terms of value. This is due to high prevalence of cancer, strong reimbursement structure, acceptance of advanced technologies, and new product approvals in the region. However, Asia Pacific is poised to be the fastest growing region during the forecast period due to factors such as rising healthcare spending, increasing cancer incidence, growing generics market and huge patient population in major countries like China and India.

About Author:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

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