The biosimilar antibodies market is projected to grow 3.21x by 2031, driven by increased cancer and autoimmune disease cases, with significant growth in the U.S., India, and China.
ESOMAR-certified consulting firm Future Market Insights (FMI) forecasts the demand for antibodies to increase by 3.21x, surpassing a valuation of US$ 601.61 Bn by 2031. Growth in the market can be attributed to the rising cases of cancer and autoimmune diseases across the globe.
Rising incidence of autoimmune diseases such as diabetes and scleroderma in women will augment the market growth in the forthcoming years. Also, surge in number of patients suffering from Parkinson’s disease and Alzheimer will increase the production of antibody therapeutics, especially in developing economies.
The COVID-19 pandemic also has created opportunities for antibodies sales as patients with coronavirus were highly prone to contracting other diseases, especially those with prior health concerns such as auto-immune diseases. Therefore, the demand for antibodies surged through 2020.
Consequently, a higher focus research and development activities is observed among pharmaceutical market leaders. These initiatives were primarily intended at developing antibodies to offer effective treatment. As per FMI, the focus on the production of biosimilar antibodies will rise over the assessment period.
On account of their affordable pricing, in comparison to blockbuster drugs, biosimilar antibodies sales will increase at an accelerated pace. The market will register remarkable growth in the U.S., India, and China, driven by higher demand for rheumatoid antibodies.
High prevalence of cancer across GCC countries and China also has necessitated screening and diagnosis using biosimilar antibodies therapeutics, which will fuel the demand for antibodies in the forthcoming years.
“Steered by surging cases of autoimmune diseases and consequently rising demand for effective therapeutics, leading pharmaceutical companies are expected to shift focus on the production of biosimilar antibodies. As a matter of fact, product development and launches will remain highly sought-after among manufacturers as they aim for competitive edge,” says a Future Market Insights analyst.
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Key Takeaways from Antibodies Market Survey
Key Drivers
Key Restraints
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Competitive Landscape
Presence of numerous industry giants has led to market consolidation. As per Future Market Insights, key producers in the antibodies market contributes over 75% of global market share.
Product development and expansion of product portfolio are key areas of focus among market players in order to strengthen their position.
Extensive research and development activities for the development of monoclonal antibodies will also aid the market expansion.
Some market players are focusing on strategic merger and collaboration with other key players for expansion of their product portfolio.
In March 2021, IMMUNOPRECISE Antibodies Ltd., a leader in full-service announced the results of an additional PolyTope antibody interaction analysis against SARS-CoV-2 spike protein variants of concern.
In August 2021, Novavax Inc., a biotechnology company developing next-generation vaccines for serious infectious diseases, announced the preliminary data demonstrating that a single booster dose of its recombinant nanoparticle protein-based COVID-19 vaccine with Matrix-M™ adjuvant, NVX-CoV2373.
Some of the leading players operating in the antibodies market profiled by Future Market Insights are:
More Valuable Insights on Antibodies Market
FMI provides detailed segmentation on the global antibodies market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global antibodies market with incisive coverage on the basis of:
By Disease Indication:
By Product Type:
By End User:
By Region:
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Key Questions Covered in the Antibodies Market Report
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The article discusses the projected growth of the biosimilar antibodies market by 2031, driven by rising cases of cancer and autoimmune diseases.
The market is growing due to increased cases of cancer and autoimmune diseases, and the demand for affordable biosimilar antibodies.
The U.S., India, and China are leading regions in antibodies demand due to healthcare infrastructure expansion and high disease prevalence.
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