The monoclonal antibody market is projected to reach US$ 243.05 billion by 2028 from US$ 111.01 billion in 2021; it is expected to grow at a CAGR of 11.8% from 2021 to 2028. The increasing prevalence of cancer and other chronic diseases and the growing cases of COVID-19 across various regions are the factors supporting the market proliferation. According to the World Cancer Research Fund and American Institute for Cancer, in 2020, ~18.1 million cancer cases were recorded worldwide, including 9.3 million cases in men and 8.8 million cases in women. Various types of monoclonal antibodies are being adopted for the treatment of different cancer types, and a few of these products are still in phases 2 and 3 clinical trials. Thus, the rising prevalence of chronic diseases has raised the demand for monoclonal antibodies across the world.

The monoclonal antibodies market is segmented on the basis of source, production method, indication application, and end-user. Based on source, the market is segmented into murine, chimeric, human, and humanized. The human segment is estimated to account for the largest market share during 2021-2028. The market growth of this segment is attributed to the rise on account of the integration of human monoclonal antibodies for the treatment of various kinds of infectious diseases. For instance, Regeneron launched FDA approved antibody cocktail casirivimab and imdevimab together for use in COVID-19. The drug has received Emergency Use Authorization (EUA) from FDA. It is used for the treatment of mild to moderate COVID-19 in adults as well as in pediatric patients at least 12 years of age and weighing at least 40kg. Moreover, an increase in their use in various chronic diseases and employment of advanced genetic engineering technology are among the significant factors driving the market segment's growth

By indication, the monoclonal antibodies market is segmented into cancer, autoimmune diseases, inflammatory diseases, infectious disease, microbial disease, and others. The cancer segment is expected to dominate the market during the forecast periodAdvancements related to the therapeutic application of monoclonal antibodies have enabled their successful implementation in the treatments of various cancer types, such as breast cancer, lung cancer, and colon cancer. Drugs based on these antibodies help in flagging cancer cells, triggering cell-membrane destruction, blocking immune system inhibitors, and so on. The FDA, in June 2020, approved two drugs-olaparib and rucaparib-for the treatment of prostate cancer. The drug is especially effective among men with prostate cancer conditions that have spread or metastasized and has stopped responding to standard hormone treatments, i.e., castration-resistant disease condition.

By end-user, the monoclonal antibody market is segmented into hospitals, research institutes, and others. The hospital segment holds the largest market share owing to the increasing adoption mABs as a preferred line of treatment against cancer.

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 American Institute of Cancer are among the primary and secondary sources referred to while preparing the report on the monoclonal antibodies market.