Wellesley, MA (GLOBE NEWSWIRE) -- An increase in research and development, burgeoning industry competition and evolving technologies are steering the antibody drug market into a new direction as biosimilars reach the market and the patents for many humanized monoclonal antibodies (mAbs) continue to expire. Other key market drivers include the growing incidence of various diseases and the expanding population of baby-boomers. BCC Research projects the global market for antibody drugs to reach $114.6 billion by 2022, up from $84.5 billion in 2017, with a 6.3% CAGR.
Antibody Drugs: Technologies and Global Markets reports the antibody drug industry is one of the fast-growing industries in the pharmaceutical sector. These drugs yield fewer side effects than chemical drugs, which is attracting many biopharmaceutical companies into the antibody protein drug market. The pharmaceutical industry is undergoing a change from chemical drugs to protein drugs due to their high specificity, enhanced efficacy, affinity, solubility and low toxicity of antibody protein drugs. Notable players include AbbVie, Amgen, Biogen, Johnson & Johnson, Merck KGaA, Novartis, Roche and Merck & Company.
Humanized monoclonal antibodies (mAbs) are the largest segment in terms of revenue, followed by other mAb categories such as human, chimeric and murine. The use of mAbs in therapeutics such as oncology, autoimmune and inflammatory diseases is expected to increase during the forecast period, although this market is likely to face competition from the entry of follow-on-biologics and biosimilars.
"Due to its pivotal role in the treatment of life-threatening diseases, the antibody drug industry has grown globally," says BCC Research analyst Shalini Dewan, who authored the report. "This report analyzes and assesses the therapeutic applications of antibodies such as mAbs in human medicine, including the combination of mAbs when they are attached to cytotoxic agents, such as antibody drug conjugates."
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About BCC Research
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SOURCE: BCC Research