The prevalence of autoimmune diseases is on the rise, and they also have the potential to act as a host for multiple chronic ailments. Owing to these factors, the demand for antibodies is forecast to increase in upcoming years.
The Antibodies Market is anticipated to develop at a CAGR of 13.4% from 2023 to 2033, and it is anticipated to reach US$ 236.9 billion in 2023. By 2033, it is expected that the antibody industry would be worth US$ 834.2 billion. The total market value of the antibodies sector, at US$ 597.3 Billion, is represented by the absolute dollar growth of the global market.
A renowned provider of market research and competitive data, Future Market Insights, predicts that by the end of 2031, the antibodies market will have grown by a factor of 21 and will be worth more than US$ 601.614 billion.
F. Hoffmann-La Roche Ltd., AbbVie Inc., Johnson & Johnson Services, Inc., Amgen Inc., and Bristol-Myers Squibb Company are among the market's top competitors, according to FMI surveys. Three out of every four sales of antibodies worldwide are accounted for by these big players.
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About 4% of the world's population is afflicted by an autoimmune disease, according to reports from the National Stem Foundation (NSCF). Diabetes, MS, Crohn's disease, and rheumatoid arthritis are the most prevalent autoimmune illnesses. The market for antibodies is predicted to be extremely in demand as a result of these chronic disorders.
Key Insights
Antibodies are essential for treating medical conditions including autoimmune diseases, cancer, and several types of neurological diseases. Immunoglobulin (IG) is a type of antibody that is used for the prevention of lower respiratory tract infections and diseases caused by the vaccinia virus. Rising cases of viral infection will drive the demand for antibodies.
The prevalence of autoimmune diseases is on the rise, and they also have the potential to act as a host for multiple chronic ailments. Owing to these factors, the demand for antibodies is forecast to increase in upcoming years.
The COVID-19 pandemic boosted the demand for antibodies as patients suffering from COVID-19 were highly susceptible to contracting various other ailments and, in some cases, triggered autoimmune diseases in the patient.
Novel biosimilar antibody manufacturers are slashing their prices to compete with branded antibody manufacturers, especially in the European market. With the expiration of patents of renowned products, a boost in demand for biosimilar antibodies can be expected in upcoming years.
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A reasonable hike in research and development activities among healthcare and pharmaceutical market leaders are working towards developing effective and economical antibodies and biosimilar antibodies, propelling growth in the market.
Parkinson's and Sclerosis diseases are on the rise among older people which is a key factor fueling the demand for antibodies. There is an urgency to develop cheap and personalized medicines, novel and effective treatments, and advanced therapeutics in middle-income countries which is expected to positively influence the sales of antibodies.
The widespread application of antibodies in chronic disease treatment is accelerating which is predicted to create scope for market expansion in the near future.
Competitive Landscape
Novartis AG, F. Hoffmann-La Roche AG, Johnson & Johnson, Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi SA, Eli Lilly, and Co. are some of the key companies profiled in the full version of the report.
Future Market Insights (FMI) has found that market players are working towards developing new antibodies to treat cancer and other diseases. They are also researching to create long-acting antibody drugs to reduce healthcare costs.
In order to gain a competitive edge in the antibodies market, key players are developing oral and noninvasive treatments using antibodies to treat chronic ailments. Strategic mergers and acquisitions for portfolio expansion are in the cards as well.
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More Insights into Antibodies Market
The United States is considered the dominant market in the North American region owing to modern healthcare infrastructural facilities and the presence of leading market players in the country. An increase in government funding and elevated purchasing power is expected to drive growth in the market.
The GCC countries led by Saudi Arabia are increasingly focusing on research and development on early diagnosis and screening of cancer to elevate the survival rate and chance of successful treatment. The contribution of antibodies is significant in this research. Hence, propelling growth in the market.
The development and production of antibodies are on a rise in China and are expected to surge significantly owing to increasing government investment in drugs and development coupled with growing awareness about various medical ailments like rheumatoid arthritis, cancer, and infections.
The Indian antibodies market is anticipated to grow at a rapid pace owing to rising cases of cancer and cardiovascular diseases along with the development of the healthcare system in the country. According to the reports of the Global Cancer Observatory, 1.322 million new cancer cases were registered in India in 2020, while 2.72 million people had cancer for 5 years. A surge in cancer patients will drive the demand for monoclonal antibodies for cancer treatment.
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Key Segments Covered in Antibodies Market Study
By Disease Indication
By Product Type
By End User
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
May 18, 2023
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