What Are The Advanced Technologies That Companies Are Adopting To Develop Effective Cancer Monoclonal Antibodies?

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Feb. 1, 2023 /PRNewswire/ -- According to the Business Research Company's Cancer Monoclonal Antibodies Global Market Report the global cancer monoclonal antibodies market is expected to reach $62.4 billion in 2023 at a compound annual growth rate (CAGR) of more than 11%. The cancer monoclonal antibodies market is then expected to grow from $98.1 billion in 2027 at a CAGR of more than 12.0%.

The cancer monoclonal antibodies market consists of sales of cancer monoclonal antibodies and related services by entities produce cancer monoclonal antibodies that prevent or inhibit the proliferation, maturation or survival of cancer cells. The cancer monoclonal antibodies market is segmented by monoclonal antibody therapies into Avastin, Herceptin, Keytruda, Opdivo, Darzalex, Perjeta, others.

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Companies in the cancer monoclonal antibodies market are investing in technologies such as artificial intelligence (AI) to save time and reduce research and development costs. For instance, in February 2020, French companies OSE Immunotherapeutics and MAbSilico are teaming up to drive the discovery of new antibody drugs using artificial intelligence. The three-year partnership will use artificial intelligence to accelerate the development of therapeutic monoclonal antibodies (mAbs) that can target cancer and autoimmune diseases.

In addition, technologies such as gene sequencing and target gene selection are being used by pharmaceutical companies in the cancer treatment monoclonal antibodies market for improved target selection and personalized medicine. Various powerful techniques such as hybridoma technology, phage display, and B-cell amplification with the help of PCR are being implemented for the development of highly-effective monoclonal antibodies, which are gaining widespread preference among healthcare professionals.

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As per TBRC's cancer monoclonal antibodies market analysis, the rising prevalence of cancer cases across the globe is likely to contribute to the growth of the cancer monoclonal antibody market during the forecast period. According to the Union for International Cancer Control (UICC)'s GLOBOCAN 2020: New Global Cancer Data published in December 2020, the global cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020. Socio-economic risk factors and the elderly population are a major cause for increasing cancer cases, thereby driving the growth of the cancer monoclonal antibodies market.

With the rising number of cancer cases, it's essential for players in the cancer monoclonal antibodies market to focus on adopting advanced technologies to develop effective cancer monoclonal antibodies that ensure personalized treatment. Investment in targeted and combination therapies is another area that companies should focus on since they are proven to be less toxic than the traditional method of treatment.

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