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(Medical-NewsWire.com, June 18, 2017 ) The Global Monoclonal Antibodies Market was worth $86647.561 million in 2016 and estimated to be growing at a CAGR of 5.30%, to reach $112175.5 million by 2021.
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The market is showcasing evident potential in the mentioned forecasting period. MAb`s are antibodies produced by a single clone of cells consisting of identical antibody molecules. Global Monoclonal Antibodies market continues to gain momentum with the rapid increase in adoption of these products for various indications.
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Monoclonal Antibodies have various diagnostic and therapeutic applications, especially in cancer. Apart from these mAb`s are also useful in protein purification. At present, there are forty-seven monoclonal antibody products have been approved in the United States or Europe for the treatment of a wide range of diseases, and many of these products have also been approved in the global markets. At the current approval rate of four new products releasing every year, approximately 70 monoclonal antibody products are expected to be present on the market by 2020.
Global Monoclonal Antibodies market is driven by increasing R & D activities in genomics, owing to rapid advancements of our understanding of disease at a molecular level. The development of new molecules is expected to play a prominent role in the future of the market due to the cost effectiveness of this technology. Rising awareness levels among patients and physicians regarding various applications of mAb is also a major factor fuelling the growth of the market. However huge cost and time associated with the identification and development of potential molecules is a major factor hindering the growth of the market.
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The Global market for Monoclonal Antibodies is broadly categorized by Source, Indication, End User, and Application. On the basis of source, the market is segmented into Murine, Chimeric, Humanized, and Human. By source Human mAb`s account for the largest share of the market. Based on indication the market is Segmented to cancer, Auto immune diseases, Infectious diseases, Cardiovascular diseases, CNS disorders and others. Cancer Vaccines are further sub-segmented into Blood Cancer, Breast Cancer, Colorectal Cancer, Lung Cancer, Pancreatic Cancer, and Others. On the basis of the end user, the market is segmented into Hospitals/Clinics, Research Institute and Diagnostic Laboratories. Hospitals are the largest end-user segment accounting for a share of approximately XX%. By application global monoclonal antibodies market is segmented into medical and experimental. Based on experimental the market is further sub-segmented into Western Blot, ELISA, Radio immune Assays, Immunofluorescence, and others.
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