Monoclonal Antibodies Market Is Predicted To Reach USD 138.6 Billion By 2024:By Grand View Research, Inc.
The 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 b...