The size of the Monoclonal Antibodies Market in the Asia Pacific is estimated to value USD 7.74 Billion by 2027 from USD 6.21 Billion in 2022, growing at a compound annual growth rate (CAGR) of 4.52% between 2022 to 2027.
The APAC monoclonal antibodies market is expected to be driven by the factors such as the increasing incidence of cancer and other chronic diseases across APAC, creating the demand for biologics. Monoclonal antibodies have the ability to recognize and destroy unhealthy cells immediately, suppress cancer cell proliferation, and distribute radioactive particles or chemotherapy medications to individual cells, reducing the risk of medication-related side effects while also improving immune system activity. In addition, increasing research and development activities in genomics along with the adoption of technology in emerging countries such as China and India are propelling the monoclonal antibodies market over the forecast period. More firms in the region will likely try to enter the market due to the possibility of strong future growth.
Some other promising factors driving the market include increased awareness of mAb therapy applications among patients and physicians, introducing better products regularly, the growing adoption of therapeutic antibodies in cost-sensitive markets, and regulatory approval of breakthrough therapies by regulatory authorities. The need for APAC monoclonal antibodies is expanding as more cost-effective biosimilar monoclonal antibodies become available. The increased prevalence of cancer is expected to increase the demand for infusion treatments. Antibody vaccines are more effective at inducing the desired medication, which results in the production of monoclonal antibodies (mAbs), which invade a specific region or cell. The technology's low cost makes it a good fit for conducting research studies to create mAbs. Moreover, the market in the region is expected to expand due to a growing number of government programs and support for clinical trials of medicines used in the Covid-19 treatment.
Strict standards governing the production of mAbs, on the other hand, may act as a barrier. Alternative therapeutic alternatives are growing increasingly popular throughout the world, which is projected to impact the market for monoclonal antibody drugs. Furthermore, alternative therapies such as Homeopathy, Ayurveda, yoga, acupuncture, and sujok therapy favor and eventually replace certain traditional hospital operations, which is likely to limit the market.
This research report on the APAC monoclonal antibodies market has been segmented & sub-segmented into the following categories:
The APAC monoclonal antibodies market had accounted for a significant share in the global market in 2020 and is driven by the increased potential market players, increasing disposable income, and rising awareness about the therapeutic use of mAbs. Also, the proliferation of cost-efficient biosimilar monoclonal antibodies is further expected to drive the market in this region. The region has seen an increase in the number of approvals for monoclonal antibodies biosimilars, owing to the government's increased focus on enhancing patient access to treatment. Biocon Ltd., Amgen Inc., F. Hoffman La-Roche AG, Pfizer Inc., and Mylan N.V. are some of the market's major participants. Product launches, partnerships, and collaborations are considered to be some of the probable methods used by market participants to improve their market position. Market players in the region are China, Japan, and India, majorly contributing to regional market growth. The Indian monoclonal Antibodies Market is projected to witness the highest market share in the region over the forecast period owing to the fundamental change in the pharmaceutical and biotechnology sectors and support from the government.
KEY MARKET PLAYERS:
Some of the leading companies in the APAC Monoclonal Antibodies Market profiled in this report are GlaxoSmithKline plc, Novartis AG, Pfizer Inc., Thermo Fisher Scientific Inc., Eli Lilly and Company, Seattle Genetics, Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd. and Biogen Inc.
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