The size of the Autoimmune Monoclonal Antibodies market in Europe is expected to reach USD 10402.05 million by 2027 from USD 7165.29 million in 2022, growing at a CAGR of 7.74% during the forecast period.
The autoimmune monoclonal antibodies market in the European region is projected to be driven by the increasing availability of low-cost biosimilar monoclonal antibodies. The goal of biosimilars is to reduce pharmaceutical costs and improve access to therapy to counteract rising healthcare costs and deal with patient and government economic pressure. Furthermore, industry companies are gradually realigning their portfolios and pursuing appealing inorganic expansion opportunities, which are more likely to enhance the market growth. The market is expected to increase because of a growing number of government activities and funding for clinical research of drugs used in the Covid-19 treatment.
Furthermore, the key growth factor for the monoclonal antibodies market in Europe is the increase in genomics research and development activities linked with the introduction of technologically advanced platforms such as next-generation sequencing. Furthermore, increased awareness of the uses of Monoclonal Antibodies therapy among patients and clinicians is expected to help market growth. The market in Europe is predicted to grow at a lucrative CAGR due to a strong product pipeline.
Monoclonal Antibodies interest is fuelled by more substantial balance sheets, liquid finance markets, and regionally favorable borrowing rates. Furthermore, the upgraded technology's low cost makes it an appealing option for performing Monoclonal Antibody research studies. These are well-known biologics expected to generate billion-dollar revenue for pharmaceutical corporations over the forecasted period.
Alternative therapeutic approaches and natural remedies are growing more popular in Europe, which is expected to have a negative impact on the autoimmune monoclonal antibodies market in this region. On the other hand, the European market is constrained by the significant cost and time needed in market discovery and development, as well as a rigorous regulatory framework. The outcomes of COVID-19 are having a negative impact on numerous economic sectors in economies across the continent and the possibility of a slowdown in European market growth. Furthermore, key manufacturing segments have suspended operations worldwide in reaction to government-issued lockdown restrictions and the discontinuation of public transportation services.
This research report on the European autoimmune monoclonal antibodies market has been segmented and sub-segmented into the following categories
The rising acceptance of monoclonal antibodies in the region and the spread of cancer across Europe are projected to drive the market for monoclonal antibodies in Europe. According to the World Health Organization, cancer is becoming more common, with an estimated 4.2 million additional cases reported in the last few years. Some of the country's key players include AstraZeneca plc, Pfizer Inc., Sitryx Therapeutics Ltd., Orchard Therapeutics plc, and Mylan N.V. These companies use a variety of products releases, partnerships, and collaborations to expand their market share.
Germany was the largest market for autoimmune monoclonal antibodies in Europe in 2020, followed by the United Kingdom. Over the years, the fastest expanding market in the region has been human monoclonal antibodies. As personalized medicine trends rise, the focus on totally humanized cancer monoclonal antibodies is expected to grow. Furthermore, the growing availability of biosimilar versions of these pharmaceuticals in the region opens the way for more cost-effective monoclonal antibody therapy. Product launches, partnerships, and collaborations are all possible strategies that market participants might employ to improve their position.
Because of government assistance in infection control and management and well-established healthcare infrastructure, the U.K. monoclonal antibodies market is predicted to have the most significant share in the European market. Germany, on the other hand, is Europe's fastest-growing country. The increase in the incidence of lifestyle-related disorders and the expanding population contribute to market expansion.
KEY MARKET PLAYERS:
Companies playing a promising role in the Europe Autoimmune Monoclonal Antibodies market include GlaxoSmithKline plc (U.K.), AstraZeneca plc (U.K.), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb (U.S.), Johnson & Johnson (U.S.), Innovent Biologics, Inc. (China), Takeda Pharmaceutical Company Ltd. (Japan), Amgen Inc. (U.S.), Biogen Inc.(U.S.), and UCB Company (Belgium).
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