North America Monoclonal Antibodies Market size exceeded USD 73 billion in 2020 and is set to witness over 13.8% CAGR from 2021 to 2027.
Currently, monoclonal antibodies have applications in treatment of range of cancers, autoimmune disorders, ophthalmic conditions, bone diseases, cardiovascular conditions and infectious diseases including COVID-19, among others. Firms are further exploring application potential of such mAbs. Increasing emphasis on discovery of monoclonal antibody-based treatment alternatives against chronic and rare disorders will present unprecedented growth opportunities for the market. For instance, Roche has a robust pipeline of products to treat several tumours, neurological conditions, and blood disorders.
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Development and production of monoclonal antibodies with wide applications requires substantial capital and resources. Thus, growing availability of funds for conducting research of monoclonal antibodies will assist in product development. In June 2020, AstraZeneca secured around USD 23 million funding from Biomedical Advanced Research and Development Authority. The funds will help the company to progress in development of COVID-19 mAb-based treatments.
There are not enough insurance policies to cover monoclonal antibody-based therapies, especially for cancer due to high price, in the U.S. This potentially restrains the North America monoclonal antibodies market growth. However, some of the recently approved COVID-19 moAb therapies have insurance coverage in the country.
Chimeric moAbs segment is poised to register 13.4% growth rate during the forecast period. Chimeric mAbs play important role in therapeutics and immunoassays. Chimerization enables antibodies in targeted treatment and applications. In June 2021, Ohara Pharmaceutical Co., Ltd. received marketing authorization for Unituxin injection in neuroblastoma after high-dose chemotherapy in Canada and the U.S.
Autoimmune diseases segment held around 30% North America monoclonal antibodies market share in 2020. Autoimmune diseases affect around 5%-8% of the Americans, as per the National Institutes for Health (NIH). Advances in treatment of various autoimmune disorders with novel mAb therapeutics will boost the market demand.
Hospitals segment accounted for USD 31 billion revenue in 2020. Greater availability of high-end medicines and sophisticated treatment options in hospitals can be primarily attributed to high segment share. In addition, growing hospital admissions, patient pool and prescription of advanced therapies will augment the segment revenue.
Canada monoclonal antibodies market size crossed USD 3 billion in 2020, due to rapid development, approval, and adoption scenario of mAbs in Canada. As of 2019, there were over 4 monoclonal antibody-based therapeutics that were part of selected medicines by Government of Canada. Moreover, several mAbs candidates from international firms are being rapidly approved by the regulatory authorities of the nation. For instance, in November 2020, the Government of Canada made an agreement with Eli Lilly and Company for Bamlanivimab, the mAb therapy against COVID-19.
Eminent players engaged in the North America monoclonal antibodies market include AbbVie Inc., F. Hoffmann-La Roche, Bristol Myers Squibb, Amgen, Johnson & Johnson, Regeneron, and Novartis AG, among others.
These companies are adopting various strategies to generate greater market share through augmentation of portfolio with novel therapeutic applications. For instance, in May 2021, Bristol Myers Squibb received the U.S.FDA approval for Opdivo used in the treatment of gastroesophageal junction cancer. This will help the company to strengthen its position in the market.