Market Overview:

The Antibodies Market is estimated to be valued at US$ 224,083.5 Mn in 2023 and is expected to exhibit a CAGR of 12.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Antibodies are protein produced by white blood cells called plasma cells in response to foreign particles like microbes. Monoclonal antibodies, polyclonal antibodies and other antibody types are used to detect, prevent and treat various cancer types, autoimmune disorders, infectious diseases and other medical conditions. Antibodies have emerged as a major treatment option owing to their high specificity and ability to activate the immune system against diseased cells.

Market key trends:

One of the key trends driving the growth of antibodies market is the rise of biosimilar antibodies. Biosimilars are biologic medical products that are almost an identical copy of an original product that is manufactured by a different company. Since biosimilars have the same clinical efficacy as reference biologics but at a lower cost, they are increasingly being adopted as an affordable treatment option. Several blockbuster antibody drugs including adalimumab, bevacizumab and trastuzumab are expected to lose patent protection in the forecast period, opening lucrative opportunities for biosimilar versions of these drugs. This is expected to significantly lower treatment costs and expand the market reach of important antibody therapies over the coming years.

Porter’s Analysis

Threat of new entrants: The established presence of major pharmaceutical players makes market entry difficult for new players due to high capital requirements. Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over suppliers due to their large market shares and demand volumes. Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated products and technologies required for antibody production. Threat of new substitutes: Alternatives like small molecule drugs pose low threat currently due to antibodies' target specificity and fewer side effects. Competitive rivalry: Intense competition exists among major players to develop innovative therapeutic antibodies and biologics.

SWOT Analysis

Strengths: Growing R&D investments and focus on developing novel antibodies for various indications. Weaknesses: High development costs and regulatory risks associated with drug development. Opportunities: Increasing prevalence of chronic diseases and large untapped potential in emerging markets. Threats: Patent expirations of major drugs and biosimilarity due to biosimilars.

Key Takeaways

The Global Antibodies Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of various chronic and infectious diseases. North America is expected to dominate the market throughout the forecast period due to growing research activities and rising healthcare spending in the region. Europe is also expected to account for a significant share in the global market.

Key players operating in the antibodies market are Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, AbbVie Inc., Sanofi, Eli Lilly and Co., Iovance Biotherapeutics, Inc., Ultragenyx Pharmaceutical Inc., and Kyowa Kirin Co., Ltd.

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https://www.newswirestats.com/antibodies-market-size-share-growth-outlook-2023/