The first commercial monoclonal antibody (mAb) was approved in 1986 and today, the global market is large and growing. Reports estimate the size of the market to be approximately $100 billion with expectations of it growing to more than $130 billion by 2023, a robust compound annual growth rate of more than 5.5%.
The demand for mAbs and other antibody-based biologics continues to be fueled by a number of factors including:
• A growing elderly population experiencing age-related conditions including cancer, cardiovascular and respiratory diseases
• The opportunity for significant breakthroughs in cancer, diabetes, liver and kidney diseases which continue to have high mortality rates
• The availability of biosimilars and novel modalities including bispecifics and antibody-drug conjugates