Monoclonal Antibodies (mAbs) Market Trends ,Industry Overview And Forecast From 2018 To 2024| Grand View Research, Inc
“The global monoclonal antibodies (mAbs) market accounted for USD 85.4 billion in 2015 and is expected to exhibit a growth rate of 5.7% over the forecast period.�
Global Monoclonal Antibodies (mAbs) Market was valued at USD 85.4 billion in 2015 and is expected to reach a value of USD 138.6 billion by 2024. Increasing R&D pertaining to the development of therapeutic mAbs coupled with supportive government initiatives is expected to drive the monoclonal antibodies market growth over the forecast period. Increasing demand for personalized medicine is a vital factor responsible for the increasing development of therapeutic antibodies to provide targeted therapies as every individual responds in a different manner to a particular treatment. Moreover, related benefits of using mAbs for therapeutic purposes, including fewer adverse effects, homogeneity, specificity, and large-scale production, are contributing toward significant market growth. In addition, the government initiatives to enable cost-effective production of mAbs is anticipated to propel the emergence of this sector over the forecast period. For instance, the biomanufacturing initiative byNational Institute of Standards and Technology in the U.S. provides scientifically sound regulatory guidelines to ensure effective and safe manufacturing of protein therapeutics and to support biopharmaceutical manufacturers in offering low-cost and high-quality protein drugs across the globe.
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