, /PRNewswire/ -- The global size is estimated to grow by .67 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 14.
68% during the forecast period. For more insights on the forecast market size and historic data (2018 - 2022) - Monoclonal antibodies (mAbs) are essential proteins developed to bind to specific antigens in the body. They are widely used to treat diseases like cancer, often in combination with radiotherapy or drugs for targeted therapy.
The global market for mAbs is growing due to their use in immunotherapy and personalized medicine, which tailors treatments for specific populations. Increased R&D for diseases like Ebola and rheumatoid arthritis boosts demand. Quality control tests ensure the effectiveness of mAbs, driving the need for biopharmaceutical analytical testing services.
Consequently, the rising demand for mAbs is expanding the biopharmaceutical testing market. Research report provides comprehensive data on impact of trend, driver and challenges - The bioanalytical segment has shown notable growth, valued at in 2017 and continuing to rise through 2021. This growth is driven by the increased use of biosimilars for medical conditions like diabetes and cancer.
Contract research organizations, pharmaceutical companies, and bioanalytical labs are expanding services and investing in new laboratories. The outsourcing of R&D activities by pharmaceutical companies to focus on core areas is another key factor. Additional.
