Monoclonal Antibodies Market Research Report and Outlook by 2028

The monoclonal antibody market is anticipated to grow significantly, reaching an estimated US$ 243.05 billion by 2028, up from US$ 111.01 billion in 2021. This growth represents a compound annual growth rate (CAGR) of 11.8% from 2021 to 2028. The surge in market demand is primarily driven by the rising incidence of cancer and other chronic illnesses, alongside the increasing number of COVID-19 cases globally. According to data from the World Cancer Research Fund and the American Institute for Cancer, approximately 18.1 million new cancer cases were reported worldwide in 2020, comprising 9.3 million in men and 8.8 million in women. Various monoclonal antibodies are being utilized for treating different types of cancer, with several products still undergoing phases 2 and 3 clinical trials. Consequently, the growing prevalence of chronic diseases has significantly heightened the demand for monoclonal antibodies across the globe.

The monoclonal antibodies market can be categorized based on source, production method, application indication, and end-user. In terms of source, the market is divided into murine, chimeric, human, and humanized antibodies. The human segment is projected to capture the largest market share during the period from 2021 to 2028. This growth is largely due to the increasing integration of human monoclonal antibodies in treating various infectious diseases. For example, Regeneron introduced the FDA-approved antibody cocktail of casirivimab and imdevimab for COVID-19 treatment. This drug has received Emergency Use Authorization (EUA) from the FDA and is indicated for mild to moderate COVID-19 in adults and pediatric patients aged 12 years and older, weighing at least 40 kg. Furthermore, the rising application of these antibodies in treating chronic diseases, coupled with advancements in genetic engineering technologies, are key factors propelling the growth of this market segment.

When examining the market by indication, monoclonal antibodies are categorized into cancer, autoimmune diseases, inflammatory diseases, infectious diseases, microbial diseases, and others. The cancer segment is expected to lead the market throughout the forecast period. Innovations in the therapeutic applications of monoclonal antibodies have facilitated their effective use in treating various cancers, including breast, lung, and colon cancers. These antibody-based drugs function by marking cancer cells, inducing cell membrane destruction, and inhibiting immune system blockers. In June 2020, the FDA approved two drugs, olaparib and rucaparib, specifically for prostate cancer treatment. These medications are particularly beneficial for men whose prostate cancer has metastasized and is resistant to standard hormone therapies, known as castration-resistant conditions.

In terms of end-users, the monoclonal antibody market is segmented into hospitals, research institutes, and other entities. The hospital segment commands the largest market share, primarily due to the increasing preference for monoclonal antibodies as a treatment option for cancer.

Key organizations such as the World Health Organization (WHO), World Cancer Research Fund International, Organization for Economic Co-operation and Development (OECD), Centers for Medicare & Medicaid Services (CMS), US Department of Health and Human Services, National Institute of Health (NIH), and the American Institute of Cancer have been referenced as primary and secondary sources in the preparation of the report on the monoclonal antibodies market.