, June 07, 2017 ) North America Monoclonal Antibodies Market
was worth $36391.9756 million in 2016 and is estimated to grow at a CAGR of 6.24%, to reach $49254.5 million by 2021.
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The market is showcasing evident potential in the mentioned forecasting period. mAb`s are antibodies produced by a single clone of cells consisting of identical antibody molecules. North America market for monoclonal antibodies continues to grow tremendously with fast adoption for various indications.
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Monoclonal Antibodies have wide range of applications in different diseases such as cancer, autoimmune diseases, infectious diseases etc. Currently there around forty-seven monoclonal antibody products that have been approved for the treatment of a wide range of diseases. In the past five years 3-6 new products were approved every year supporting the growth of North America monoclonal antibodies market.
North America Monoclonal Antibodies market is driven by high rate of product approvals, along with rising adaptation of both diagnostic and therapeutic antibodies. Increasing R & D activities is also a major factor fuelling the growth of the market. Rising awareness levels among patients and physicians regarding various applications of mAb is also a key factor adding upto the market growth. However huge cost involved in their development the major factor restraining the growth of the market. Lengthy product approval pathway is also noteworthy factor hindering the market.
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North America Monoclonal Antibodies is broadly segmented into Source, Indication, End User and Application. On the basis of source, the market is categorized into Murine, Chimeric, Humanized and Human. Human mAb`s is the largest segment by source accounting for a share of around XX%. By indication the market is segmented into cancer, Auto immune diseases, Infectious diseases, Cardiovascular diseases, CNS disorders and others. Cancer Vaccines are further sub segmented into Blood Cancer, Breast Cancer, Colorectal Cancer, Lung Cancer, Pancreatic Cancer and Others. Based on end user, the market is segmented into Hospitals/Clinics, Research Institute and Diagnostic Laboratories. Hospitals is the largest end user segment accounting for a share of approximately XX%. By application North America monoclonal antibodies market is segmented into medical and experimental. Based on experimental the market is further sub segmented into Western Blot, ELISA, Radioimmune Assays, Immunofluorescence and others.
Geographically, North America monoclonal antibodies market is segmented into United States and Canada. United States is the largest market for mAb`s while Canada is estimated to be the fastest growing due to growing awareness about the antibody products.
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