The cancer monoclonal antibodies market consists of sales of monoclonal antibodies used for the treatment of cancer and related services by entities (organizations, sole traders and partnerships) that produce monoclonal antibodies for cancer treatment. Monoclonal antibodies are highly specific molecules for cancer cells as they bind to the proteins on their surface and it activates an immune response. The market consists of revenue generated by cancer monoclonal antibodies companies manufacturing cancer monoclonal antibodies drugs.
The global cancer monoclonal antibodies market is expected to decline from $48.36 billion in 2019 to $45.40 billion in 2020 at a compound annual growth rate (CAGR) of -6.13%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $61.15 billion in 2023 at a CAGR of 10.44%.
