The size of the Autoimmune Monoclonal Antibodies market in Latin America is expected to reach USD 2172.13 million by 2027 from USD 1605.65 million in 2022, growing at a CAGR of 6.23% during the forecast period.
The Latin American monoclonal antibodies market is expected to be majorly driven by the increasing prevalence of cancer, growing demand for biosimilar monoclonal antibodies, and a surging number of drug pipelines. In addition, the growing demand for personalized medicine is expected to boost the market growth because it is a crucial factor responsible for the development of therapeutic antibodies to provide targeted diseases. The technological advancement in the healthcare sector and the adoption of advanced methods for mAb production are most likely to boost market growth.
Moreover, initiatives taken by the government to enable cost-effective production of mAbs are encouraging market growth. Biotech companies' increased research and development activities, as monoclonal antibodies have emerged as a prominent class of medicines for numerous human diseases, including immunological infectious diseases and cancer, are projected to drive market expansion. Furthermore, key market strategies such as partnerships, mergers, and acquisitions are expected to expand the regional market growth. The different companies in the region are involved in therapeutic protein research activities and are estimated to provide lucrative growth opportunities for the market.
However, stringent government regulations for the approval and the launch of the monoclonal antibodies are expected to hinder market growth. In addition, the side effects associated with these drugs is further limit the market growth. Also, because intellectual property is not protected in every Latin American country, firms can register monoclonal antibodies against novel biological treatments protected in other regions. As a result, innovative enterprises are clearly at a disadvantage when competing with cheaper items with identical chemical structures.
This research report on the Latin America autoimmune monoclonal antibodies market has been segmented and sub-segmented into the following categories
Latin America has been one of the promising regions globally in the monoclonal antibodies market over the years. The market is anticipated to record a significant share during the forecast period. The regional market growth is attributed to the increasing incidence of cancer, improving healthcare sectors, and favorable government policies. Further, emerging countries such as Brazil, Mexico, and Argentina are expanding the Latin American regional market growth with a significant market share. The presence of key market players and the implementation of market strategies help the market gain a competitive advantage over the marketplace.
The Brazilian autoimmune monoclonal antibodies market held the largest share during the forecast period. The factors such as the availability of the advanced healthcare sector, the proliferation of targeted diseases, and regulatory approvals for monoclonal antibodies are fuelling the market growth.
Mexico is more likely to showcase a considerable share in the market during the forecast period. The growing population and the increasing incidence of lifestyle-associated diseases contribute to market growth.
On the other hand, the Argentina market is estimated to witness a promising share due to the increasing research and development funding, increasing focus of pharmaceutical companies to develop novel monoclonal antibodies, and supportive government policies fuel market growth.
KEY MARKET PLAYERS:
A few of the companies playing a notable role in the Latin America 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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