Monoclonal antibodies: Key market research findings
- The Americas dominate the market geographically
- Oncology segment accounts for a majority of the market’s revenue
- Key vendors – bbVie, F. Hoffmann-La Roche, Johnson & Johnson, Amgen, Merck, and BMS
Technavio’s market research analysts predict the global mAbs market to grow at a CAGR of around 10% between 2016 and 2020. The growth in the market can be accredited to the reimbursement benefits for monoclonal antibodies (mAbs) and its biosimilars. Public compensation programs help reduce the financial burden of treatments. Though mAbs are expensive, reimbursement for these drugs is expected to fuel the market during the forecast period. During 2015, the Americas dominated the global monoclonal antibodies market by accounting for around 53% of the overall market share. The higher uptake of existing mAbs and the launch of new ones coupled with the accelerated approvals for certain formulations is expected to propel growth in the mAbs market in the Americas in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the monoclonal antibodies segment based on the application.
“Vendors in the market are emphasizing greatly on joint ventures and partnerships for R&D. Co-development agreements enable the use of technical expertise from both companies as it helps them to promote and support each other. They also ensure the in-flow of adequate funds for the companies involved and reduce liability costs for individual companies in case of failures,” says Barath Palada, Lead Analyst, Pharma, Technavio Research.
By 2020, the oncology segment will continue its dominance as the key revenue generator in the global monoclonal antibodies market by accounting for a market share of more than 49%. The mAbs segment consists of medicinal products extracted from biological sources, such as humans, animals, or microorganisms, and manufactured using advanced biotechnology. An increase in the incidence of cancer is expected to propel the demand for oncology mAbs. Avastin and Herceptin are examples of some successful oncology mAbs in the market.
The key vendors in the global mAbs market include bbVie, F. Hoffmann-La Roche, Johnson & Johnson, Amgen, Merck, and BMS. The market is diverse with the presence of several global and regional players. The key vendors dominate this market and compete with the local players on the basis of cost, prices, technology, and product differentiation. The presence of vast growth opportunities in the market will encourage the entry of new players. However, their entry will be restricted due to the presence of highly stringent guidelines to manufacture mAbs. F. Hoffmann-La Roche was the largest vendor in the market in 2015 and occupied more than 35% of the total market revenue. It has retained its dominant position in the market through its wide range of monoclonal antibodies offerings, including Avastin, Perjeta, MabThera/Rituxan, Kadcyla, Actemra/RoActemra, Herceptin, and Lucentis.
A more detailed analysis is available in the Technavio report, Global Monoclonal Antibodies Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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