Monoclonal Antibodies Market Insights, Research and Growth Factor till 2032
The global market for monoclonal antibodies was valued at US$ 186 billion in 2021 and is expected to grow at a CAGR of 12% between 2022 and 2032. The rising prevalence of chronic diseases such as cancer, cardiovascular disease, and others is driving demand for biologics, which will drive the monoclonal antibodies (mAbs) market. Similarly, increasing applications of mAb therapies for targeted therapies, as well as rising patient and physician awareness of such therapies, are expected to contribute significantly to market growth. Human mAbs efficiently modulate effector functions and are less immunogenic than chimeric or humanised mAbs. Using phage display and hybridoma technologies, these antibodies can be produced in transgenic mice. The production of fully human mAbs is expected to gain traction in the near future as a result of recent advances in genetic engineering technology. North America held the largest market share of 46.2% in 2021, owing to, among other things, a wel...