Antibodies Market to Soar in the Near Future Owing to Growing Consumer Adoption

The high rate of product approvals, combined with increased therapeutic antibody use in developing economies, is positively influencing the growth of the worldwide antibodies market, with total revenues estimated to exceed US$ 105 billion in 2016. The approval of monoclonal antibody products such as therapeutic antibodies, drug conjugates, and antibody fragments in important markets like as the United States, Europe, and Japan has boosted the worldwide antibodies market's growth. The availability of low-cost biosimilar antibody treatments is also contributing to the growth of the antibody industry.

The global antibodies market is estimated to account for US$ 147,385.1 Mn in terms of value and is expected to reach US$ 384,011.6 Mn by the end of 2027.

While the worldwide antibodies market's short- and long-term prognosis remains promising, adverse effects associated with antibody treatment and the failure of investigational therapies in late phases of research can pose barriers to general adoption. Antibody administration has been related to serum sickness and severe anaphylaxis, making general adoption difficult.

Therapeutic monoclonal antibodies are used extensively in oncology, neurology, autoimmunology, and cardiology. The rising frequency of chronic diseases is likely to drive the global antibodies market forward. According to the World Health Organization, around 18.1 million new cases of cancer and 9.6 million deaths were recorded globally in 2018.

Furthermore, the emergence of low-cost biosimilar antibody therapies is projected to boost market expansion. For example, in December 2019, the World Health Organization (WHO) prequalified trastuzumab, a monoclonal antibody for the treatment of early stage breast cancer. Trastuzumab costs around $20,000 on average. Trastuzumab biosimilars, on the other hand, are typically 65 percent less expensive than the original.

Major players operating in the global 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.