The size of the European Monoclonal Antibodies Market was worth USD 10.67 Billion in 2023 and estimated to be growing at a CAGR of 5.32%, to reach USD 13.83 Billion by 2028. European countries monoclonal antibody development plays a key role in cancer diagnosis & treatment. It can create new opportunities for Pharmaceutical, biotechnology & bioinformatics companies to innovate new drugs and equipment through monoclonal antibodies.
Every year more than 20000 patients are dying in European countries due to bacterial infections with serious resistance. Scientist innovates the new antibacterial treatments to reduce the high resistant of bacterial infections and save a life. AbbVie, Harbour BioMed, Utrecht University, and Erasmus Medical Center collaborate to develop novel antibody therapeutics to prevent coronavirus.
MAb`s are antibodies produced by a single clone of cells consisting of identical antibody molecules. Monoclonal Antibodies have various diagnostic and therapeutic applications, especially in cancer. Apart from these, mAbs are also useful in protein purification. Therefore, growth in sales of currently approved monoclonal antibody products and 300 monoclonal antibody products currently in development will show significant growth in sales of mAb products in the coming five years.
European laboratories are linked up with academic Institutes for the production of Monoclonal antibodies. Europe has a well-developed infrastructure of laboratories estimated to propel the demand of the market to the extent. Increasing incidences of various health disorders are enhancing the growth rate of this market. Use of different methodology, techniques for improvement in antibody production, such as recombinant technology. The researcher uses this Monoclonal antibody as research or diagnostic tool.
The market for the monoclonal antibodies market in Europe is expected to be driven by the increasing approval for the antibodies in the region and the proliferation of cancer across Europe. According to the WHO, the prevalence rate of cancer has been increasing, and approximately 4.2 million new cases have been recorded in the recent period. AstraZeneca plc, Pfizer Inc., Sitryx Therapeutics Ltd., Orchard Therapeutics plc, and Mylan N.V. are some of the country's major players. To increase their market share, these firms use various product releases, partnerships, and collaborations. The rising prevalence of cost-efficient biosimilars monoclonal antibodies is expected to drive the market. The purpose of biosimilars is to cut pharmaceutical costs and enhance access to therapy to combat rising healthcare expenses and deal with economic pressure from patients and governments. Furthermore, companies in the industry are progressively realigning their portfolios and pursuing attractive inorganic development prospects, which are more likely to boost the market growth. The market is expected to develop due to a growing number of government efforts and financing for clinical research of medications utilized in the Covid-19 treatment.
Moreover, the increase in the research and development activities in genomics associated with the advent of technologically advanced platforms like next-generation sequencing is considered the primary growth factor for the monoclonal antibodies market in Europe. In addition, growing awareness among the patients and physicians about the applications of mAb therapy is likely to contribute to the market growth. Due to the highly robust product pipeline, this market in Europe is expected to develop at a lucrative CAGR.
Stronger company balance sheets, liquid financing markets, and ongoing favorable interest rates regionally are further fueling M&A interest. Also, the improved technology's low cost makes it an attractive option for conducting research studies to create mAbs. These are generally acknowledged biologics that are likely to provide pharmaceutical companies with a billion-dollar potential throughout the projected period.
Alternative therapy approaches and natural treatments are becoming increasingly popular throughout Europe, which is projected to influence the monoclonal antibody drug market negatively. However, the high cost and time involved with market discovery and development and a strict regulatory environment are the primary restraints to the European market.
This research report on the Europe mABs market has been segmented & sub-segmented into the following categories:
Regionally, the European mAbs market is the second-largest market for monoclonal antibodies accounting for a major share. Within Europe, Germany is the largest market for monoclonal antibodies, followed by the United Kingdom. A human monoclonal antibody is a fastest growing market in the region over the years. The focus on completely humanized cancer monoclonal antibodies is projected to grow as the trend toward creating tailored therapies grows. In addition, the increasing availability of biosimilars of these medications in the region is paving the way for cost-effective monoclonal antibody therapy. Product launches, partnerships, and collaborations are all viable techniques that market participants might use to strengthen their position in the marketplace.
In the European market, the U.K. monoclonal antibodies market is expected to record the largest share due to government support in infection control and management and well-established healthcare infrastructure. However, Germany is the fastest-growing country in Europe. The market growth is attributed to the increase in the incidence of lifestyle-associated diseases and the growing population.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Europe 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.
RECENT MARKET DEVELOPMENTS:
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