Future Market Insights' latest survey offers incisive coverage on antibodies market, covering factors affecting sales across key segments including disease indication, product type, and end-user. It also offers insights into leading antibodies market players and strategies adopted by them to improve sales.
DUBAI, U.A.E, Aug. 11, 2021 /PRNewswire/ -- ESOMAR-certified consulting firm Future Market Insights (FMI) forecasts the demand for antibodies to increase by 3.21x, surpassing a valuation of US$ 601.61 Bn by 2031. Growth in the market can be attributed to the rising cases of cancer and autoimmune diseases across the globe.
Rising incidence of autoimmune diseases such as diabetes and scleroderma in women will augment the market growth in the forthcoming years. Also, surge in number of patients suffering from Parkinson's disease and Alzheimer will increase the production of antibody therapeutics, especially in developing economies.
The COVID-19 pandemic also has created opportunities for antibodies sales as patients with coronavirus were highly prone to contracting other diseases, especially those with prior health concerns such as auto-immune diseases. Therefore, the demand for antibodies surged through 2020.
Consequently, a higher focus research and development activities is observed among pharmaceutical market leaders. These initiatives were primarily intended at developing antibodies to offer effective treatment. As per FMI, the focus on the production of biosimilar antibodies will rise over the assessment period.
On account of their affordable pricing, in comparison to blockbuster drugs, biosimilar antibodies sales will increase at an accelerated pace. The market will register remarkable growth in the U.S., India, and China, driven by higher demand for rheumatoid antibodies.
High prevalence of cancer across GCC countries and China also has necessitated screening and diagnosis using biosimilar antibodies therapeutics, which will fuel the demand for antibodies in the forthcoming years.
"Steered by surging cases of autoimmune diseases and consequently rising demand for effective therapeutics, leading pharmaceutical companies are expected to shift focus on the production of biosimilar antibodies. As a matter of fact, product development and launches will remain highly sought-after among manufacturers as they aim for competitive edge," says a Future Market Insights analyst.
Presence of numerous industry giants has led to market consolidation. As per Future Market Insights, key producers in the antibodies market contributes over 75% of global market share.
Product development and expansion of product portfolio are key areas of focus among market players in order to strengthen their position.
Extensive research and development activities for the development of monoclonal antibodies will also aid the market expansion.
Some market players are focusing on strategic merger and collaboration with other key players for expansion of their product portfolio.
In March 2021, IMMUNOPRECISE Antibodies Ltd., a leader in full-service announced the results of an additional PolyTope antibody interaction analysis against SARS-CoV-2 spike protein variants of concern.
In August 2021, Novavax Inc., a biotechnology company developing next-generation vaccines for serious infectious diseases, announced the preliminary data demonstrating that a single booster dose of its recombinant nanoparticle protein-based COVID-19 vaccine with Matrix-M™ adjuvant, NVX-CoV2373.
Some of the leading players operating in the antibodies market profiled by Future Market Insights are:
F. Hoffmann-La Roche AG
Johnson & Johnson
Takeda Pharmaceutical Company Limited
Bristol-Myers Squibb Company
Eli Lilly and Co.
More Valuable Insights on Antibodies Market
FMI provides detailed segmentation on the global antibodies market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global antibodies market with incisive coverage on the basis of:
Key Questions Covered in the Antibodies Market Report
The report offers detailed insights into antibodies demand outlook for 2021-2031
The market study also highlights projected sales growth for antibodies market between 2021 and 2031
Antibodies market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Antibodies market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.