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| Global Recombinant Therapeutic Antibodies And Proteins Market |
The recombinant therapeutic antibodies and proteins market has gained
significant traction in the recent years. Recombinant therapeutic antibodies
and proteins are widely used in various immunotherapy applications for
treatment of chronic illnesses like cancer and autoimmune disorders. They have
comparatively less side effects than other traditional drug therapies and help
target specific cells in the body.
The global
recombinant therapeutic antibodies and proteins market is estimated to be
valued at US$ 234.2 billion in 2023 and is expected to exhibit a CAGR of 7.5%
over the forecast period 2023-2031, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Increasing R&D investments by major players is driving the recombinant
therapeutic antibodies and proteins market. Leading biopharma companies are
heavily investing in developing novel monoclonal antibodies and biologics for
treatment of various chronic diseases. For instance, Amgen invested over US$ 4
billion in R&D during 2021 with focus on expanding its pipeline of novel
antibodies and biologics. The increasing R&D expenditures are helping
companies launch innovative antibody therapeutics with improved efficacy and
reduced side effects, thereby accelerating the market growth over the forecast
period.
Segment
Analysis
The recombinant therapeutic antibodies and proteins market can be segmented
based on product type, application, and end user. By product type, monoclonal
antibodies currently dominate the market due to their high specificity and
affinity for antigens. The monoclonal antibodies segment accounts for more than
60% of the total market share owing to the increasing use of monoclonal
antibodies for treatment of various cancers and autoimmune disorders.
Key Takeaways
Global
Recombinant Therapeutic Antibodies And Proteins Market is expected to
witness high growth.
Regional analysis: North America currently holds the largest share of the
recombinant therapeutic antibodies and proteins market due to established
healthcare infrastructure and higher adoption of advanced treatment options.
However, Asia Pacific is expected to grow at the fastest pace during the
forecast period due advances being made in biologics development and rising
healthcare spending in emerging countries such as China and India.
Key players: Key players operating in the recombinant therapeutic antibodies
and proteins market include Amgen, Hoffmann-La Roche, AbbVie, Johnson &
Johnson, Bristol-Myers Squibb, Novo Nordisk, Eli Lilly, Sanofi, Pfizer,
Novartis, Merck, AstraZeneca, GlaxoSmithKline, and Takeda Pharmaceutical. Amgen
dominated the overall market in 2021 owing to its wide product portfolio and
strong presence across major markets. However, the market is highly competitive
with presence of both international and local players.
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