"Technological development within the biotech and genomic markets triggered the use of mAbs for therapeutics," notes Frost & Sullivan Research Analyst Deepika Pramod Chopda. "With the rise in disease incidence rate and deterioration in human health conditions, the need for innovative and effective cure has been in great demand."

High developmental costs act however as a major barrier for market entrants due to the complex production process, expensive biological and chemical materials and clinical trials, as well as required safety, efficacy and quality tests.

The average production cost of developing monoclonal antibodies ranges from $650-$750 million and takes about 8 to 9 years. This factor particularly hinders the entrance of small biotech companies and favours big pharma participants, because of their financial strength and capabilities.

On the other hand, the rise in other specialty pharmaceuticals with biotech invasion is expected to expand therapeutics at niche levels, thereby creating opportunities for bigger and better biologics business.

"Alliances between big pharma and small biotech firms for developing biologics is a key trend observed in this market," adds Deepika. "High developmental costs due to expensive research and testing activities trigger the overall expenditure of mAbs. Alliances with financially adept companies will help small biotech firms to develop new technologies, thus encouraging product development within this market."