Monoclonal Antibody Therapeutics Market by Application (Cancer, Autoimmune Diseases, Infection, Hematological Diseases, and Others), By Source and By End Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023

Sarasota, FL -- (SBWire) -- 09/05/2018 --According to the report, global monoclonal antibody therapeutics market was valued at approximately USD 108.01 billion in 2017 and is expected to generate revenue of around USD 218.97 billion by the end of 2023, growing at a CAGR of around 12.5% between 2017 and 2023.

Monoclonal antibody therapeutics is a type of immunotherapy in which monoclonal antibodies are used so that they can bind monospecifically to specific cells and proteins. This treatment stimulates the immune system of patients to attack the foreign cells which cause the disease. Monoclonal antibodies are produced by using hybridoma technology. In hybridoma technology, the antibodies are obtained by fusion of human spleen cells and human myeloma. The characteristics of monoclonal antibodies which affect their efficacy are antigen specificity, overall structure and the affinity of the antibody for the target antigen or cells. The commercial development of therapeutic monoclonal antibodies commenced in the early 1980s, and by 1986 the first therapeutic monoclonal antibody was approved for prevention of kidney transplant rejection.

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The monoclonal antibody therapeutics market is segmented on the basis of application into cancer, autoimmune diseases, infection, hematological diseases and others. The autoimmune disease segment is expected to dominate the global monoclonal antibody therapeutics market however the cancer segment is also expected to show higher growth due to increase in usage of monoclonal antibodies in treatment for cancer. Based on the source, the market is divided into a human, humanized, chimeric, and others. The human antibody segment is anticipated to dominate the market. On the basis of the end user, the market is divided into hospitals, private clinics, and research institutes. Research institute segment is expected to dominate the global monoclonal antibody therapeutics market in the forecast period whereas there is significant growth in hospital segment due to the rising use of the monoclonal antibody in the treatment of various diseases in hospitals.

North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are the regional segments of global monoclonal antibody therapeutics market. North America is anticipated to remain the leading region over the forecast period due to the rapid acceptance of the use of monoclonal antibodies. The growth in Europe is expected to be steady as there is an increase in the chronic diseases like cancer, hematological diseases, and infections which uses the monoclonal antibody therapeutics. The Asia Pacific is expected to show rapid growth rate in forecast period because of the increase in aging population and rapid increases in disposable income. Latin America and Middle East & Africa are also expected to show a steady increase in demand for monoclonal antibody therapeutics market in the forecast period.

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Some of the key players in the global monoclonal antibody therapeutics market include Pfizer Inc., Bayer AG, Sanofi, Merck & Co., Inc., GlaxoSmithKline Plc., F. Hoffmann-La Roche Ltd., Novartis AG, and AbbVie Inc.