The APAC monoclonal antibody therapy market is expected to be worth USD 103.6 billion by 2028 from USD 44.63 billion in 2023, growing at a CAGR of 18.34% from 2023 to 2028.
The growing patient population of chronic diseases such as cancer, CVDs and others across the Asia-Pacific region is one of the major factors driving the monoclonal antibody therapy market in this region. The development of therapeutic biological products particularly monoclonal antibodies has played a significant role in advancing life-saving disease treatment. Cancer remains the leading cause of death in the Asia-Pacific region, with nearly 2.2 million new cases reported in 2020. Monoclonal antibody therapy, created in a laboratory setting by researchers, has proven effective in treating various types of cancer, such as lung and stomach cancer. This innovative therapy targets specific cancer cells and enhances the immune system's ability to fight against cancer. Healthcare providers continue to embrace the potential benefits of monoclonal antibody therapy, further driving regional market growth. As such, it is crucial for businesses in the biotechnology and pharmaceutical sectors to prioritize research and development in this area to meet the growing demand for effective cancer treatments in the Asia Pacific region.
The growing number of research centers and investments by key market participants for developing new and improved monoclonal antibody therapies further fuel the growth rate of the APAC market. With the emergence of different variants of the coronavirus, researchers are focusing on developing monoclonal antibody therapy to combat the new strains effectively. The older population is more vulnerable to the virus due to their weakened immune system, and as a result, healthcare providers are increasingly administering monoclonal antibody therapy to this demographic to expedite the recovery process. Public and private sectors are also investing heavily in the market while increasing reimbursement policies and the entry of new manufacturers are also fueling its development. Manufacturers are also prioritizing the development of advanced manufacturing devices and equipment to enhance the production of monoclonal antibody drugs efficiently. As such, businesses in the biotechnology and pharmaceutical sectors must continue to prioritize research and development and improve their manufacturing processes to meet the growing demand for effective disease treatment in the Asia Pacific region.
The growing support in the form of funding for research and development and healthcare infrastructure development, increasing healthcare expenditure by individuals and governments of APAC countries to address the increasing disease burden and the growing awareness about the benefits of monoclonal antibody therapy among healthcare providers and patients contributes to the growth rate of the regional market. Furthermore, the growing acceptance of personalized medicine that requires targeted therapies such as monoclonal antibody therapy, advancements in biotechnology and genetic engineering technologies, growing availability of biosimilars that are cheaper alternatives to monoclonal antibody therapy and favorable regulatory policies and streamlined approval processes for biologic drugs are anticipated to boost the growth rate of the APAC market.
The growing incidence of side effects associated with the treatment of monoclonal antibody therapies primarily hamper the regional market growth. Severe allergic reactions such as anaphylaxis and other complications such as high blood pressure, heart attack, heart failure, skin rashes, bleeding and lung issues have been observed. Lack of skilled professionals, low awareness about the benefits of monoclonal antibody therapy and strict government regulations hinder the regional market growth. Inadequate laboratory infrastructure and facilities also contribute to the impediment of market growth in the Asia Pacific region.
This research report on the APAC monoclonal antibody therapy market has been segmented and sub-segmented into the following categories:
By Type:
By Application:
By Distribution Channel:
By Country:
APAC held a considerable share of the worldwide market in 2022 and is estimated to grow at the fastest CAGR during the forecast period owing to the growing number of hospitals providing monoclonal antibody therapy services and increasing healthcare expenditure.
China led the APAC market in 2022 and is estimated to account for a substantial share of the APAC market during the forecast period. The growing aging population, rising prevalence of chronic diseases, and increasing demand for more targeted and personalized treatments majorly drive the Chinese market growth. The growing funding and favorable policies by the Chinese government to promote the development and use of innovative therapies including monoclonal antibody therapies fuel the Chinese market growth.
India is another noteworthy regional market for monoclonal antibody therapy and is expected to hold a considerable share of the APAC market during the forecast period.
On the other hand, Japan is predicted to grow at a healthy CAGR during the forecast period owing to the growing number of approvals to several monoclonal antibodies and the increasing number of initiatives by the Japanese government.
KEY MARKET PLAYERS:
Pfizer Inc., Novartis AG, Bayer AG, Sanofi S.A., CASI Pharmaceuticals, Eli Lilly and Co., Merck & Co., Inc., Changchun Zhongyingfeng Science and Technology Co., Ltd, Hangzhou Immuno Biotech Co. Ltd, Nantong Egens Biotechnology Co. Ltd are some of the dominating companies in the APAC monoclonal antibody therapy market.
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