USA Food and Drug Administration (FDA) approved a biosimilar of Remicade called Avsola in December 2019 and is now eligible for producing biologics products all over the world. According to Pfizer, Inflectra, the biosimilar competitor of Remicade, generated US$ 659 Million in 2020. In 2020, Johnson and Johnson reported US$ 3.75 Billion achieved through the sales of Remicade. How is Increasing Production of Bio-similar Antibodies driving Demand?īiosimilar antibodies are experiencing heavy demand as they are inexpensive in comparison with human monoclonal antibodies, and they have very few side effects. In 2021, Berkeley Lights, a digital cell biology company, joined hands with Genovac, an antibody discovery company, to readily access the right antibodies in the shortest amount of time with the help of modern technology.Ĭonsidering this, the rising application of antibodies in chronic disease treatment is anticipated to create scope for antibodies market expansion in the near future. This is expected to positively influence the sales of antibodies. There is an urgency to develop personalized and cheap medicines, advanced therapeutics, advanced genetic engineering technology, and novel and effective treatments in middle-income countries. Rising cases of multiple sclerosis and Parkinson's disease among the older population is a key factor fueling the demand for antibodies. In February 2021, Abingdon Health collaborated with Abcam to explore opportunities for their service and portfolio expansion which includes Abcam's reagent portfolio and Abingdon Health's rapid test contract development and manufacturing services. How do Research and Development Activities Impact Antibodies Sales Outlook?Ī surge in research and development activities among pharmaceutical market leaders to develop economical and effective antibodies and biosimilar antibodies is driving growth opportunities for the antibodies market. Growth Trends Witnessed for Antibodies Market With the expiration of patents of renowned products, a boost in demand for biosimilar antibodies can be expected in upcoming years. Novel biosimilar antibody manufacturers are slashing their prices to compete with branded antibody manufacturers, especially in the European market. In April 2021, Xencor commenced its Phase I clinical trial of its newly engineered Interleukin-2 (IL-2) Fc cytokine and XmAb564 antibody therapeutics designed for developing the treatment of patients with autoimmune diseases. As the prevalence of autoimmune diseases is on the rise, the demand for antibodies is forecast to increase in the upcoming years. Autoimmune diseases also act as a host for multiple chronic ailments. The most common autoimmune diseases are diabetes, multiple sclerosis, Crohn’s disease, and rheumatoid arthritis. National Stem Cell Foundation (NSCF) has reported that about 4% of the global population is affected by some kind of autoimmune disease. Rising cases of viral infection are anticipated to drive the demand for antibodies. A certain type of antibody called immunoglobulin (IG) is used for the prevention of lower respiratory tract infections and diseases caused by the vaccinia virus. Market Size for Antibodies’ Absolute Dollar GrowthĪntibodies Market Outlook In Comparison to 2017 to 2022 PerformanceĪntibodies are essential for treating medical conditions like autoimmune diseases, cancer, and various types of neurological diseases. The market for antibodies is also affected by the expansion of industry-academia collaborations, stem cell and neurobiology research, and the desire to address global unmet medical needs. The market for antibodies is expanding as a result of expanded proteomics and genomics research fields as well as increased research and development efforts in the life sciences industry. The rise in demand for antibodies for repeatable research is one of the main factors driving the antibodies market expansion. The impressive growth of the market is likely to be attributed to multiple factors. The total market value of the antibodies sector represented as global market absolute dollar growth is US$ 597.3 Billion. By 2033, it is anticipated that the market for antibodies would reach US$ 834.2 Billion. The antibodies market size is estimated to be worth US$ 236.9 Billion in 2023 and is anticipated to increase at a CAGR of 13.4% from 2023 to 2033.
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