Biosimilar Monoclonal Antibodies Market worth $ 36.85 Billion by 2030 - Exclusive Report by InsightAce Analytic
JERSEY CITY, N.J., March 23, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " "Global Biosimilar Monoclonal Antibodies Market by Product (infliximab, trastuzumab, rituximab, adalimumab, bevacizumab, cetuximab, ranibizumab, denosumab, eculizumab, and other pipeline products), Indication (oncology, inflammatory & autoimmune disorders, chronic diseases, blood disorders, and other indications), Clinical Trial/Pipeline Analysis, Future Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
According to the latest research, the global biosimilar monoclonal antibodies market is valued at US$ 4.98 Billion in 2021, and it is expected to reach US$ 36.85 Billion by 2030, with a CAGR of 25% during the forecast period of 2022-2030.
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Biosimilars are biotherapeutic products. They are equivalent in terms of quality, efficacy, and safety to an innovative reference medicinal product. The mAb biosimilars are complex biological macromolecules with various post-translation modifications. These biosimilars are extensively used in treating many chronic, inflammatory, and autoimmune diseases. Various governing bodies regulate biosimilars in different countries, such as the FDA in the US and the European Medicines Agency (EMEA) in Europe.
Global biosimilar monoclonal antibodies market growth can be attributed to several factors, such as the increasing demand for cost-effective biosimilars, rising production of advanced monoclonal antibodies, growing geriatric population, high prevalence of chronic diseases, like cancer, kidney failure, rheumatoid arthritis, psoriasis, diabetes, and others. Besides, increasing patent expiries of many mAbs are expected to boost the market growth opportunities over the forecast years. Increased patent expiries of top-selling antibodies have encouraged pharmaceutical companies to develop biosimilars for mAbs, likely to accelerate the market during the forecast period.
However, the market's growth is expected to be hindered by the complexities in manufacturing biological drugs, the scarcity of clinical trial expertise, strict government policies for product approvals, and the lack of knowledge and understanding among manufacturers about biosimilars regulation and approval.
The Asia Pacific region is anticipated to gain significant growth over the forecast period (2020-2030) due to the increasing burden of chronic diseases, the increasing need for cost-effective treatments, and the rising government funding for improving healthcare facilities.
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Major market players operating in the biosimilar monoclonal antibodies market include Pfizer (US), Novartis (Switzerland), Allergan (Ireland), Coherus BioSciences (US), Biocon (Bengaluru), Amgen (US), Boehringer Ingelheim (Germany), Celltrion (South Korea), BioXpress Therapeutics (Switzerland), Intas Pharmaceuticals Limited (Gujarat), Genor BioPharma Co. Ltd (China), BIOCAD (Russia) among others.
Key developments in the market:
- In July 2021, Abzena (UK), a global partner research organization for biologics and bioconjugates, and BioXpress Therapeutics (Switzerland) collaborated to support biosimilar development for third-party customers. This partnership created an integrated solution between two leading service providers in biosimilar development and GMP manufacture.
- In February 2020, Mylan (US) launched its trastuzumab biosimilar, Ogivri. Trastuzumab is a monoclonal antibody used to treat human epidermal growth factor receptor 2 (HER2)-receptor-positive breast cancer, previously marketed by Genentech as Herceptin.
- In June 2019, Amgen (US) and Allergan (Ireland) announced the FDA approval for KANJINTI™ (trastuzumab-anns). It is approved for all indications of the reference product, Herceptin® (trastuzumab), providing an additional treatment option for patients across three types of cancer.
Market Segments
Global Biosimilar Monoclonal Antibodies Market, by Product, 2020-2030 (Value US$ Mn)
- Infliximab
- Trastuzumab
- Rituximab
- Adalimumab
- Bevacizumab
- Cetuximab
- Ranibizumab
- Denosumab
- Eculizumab
- Other Pipeline Products
Global Biosimilar Monoclonal Antibodies Market, by Indication, 2020-2030 (Value US$ Mn)
- Oncology
- Inflammatory & Autoimmune Disorders
- Chronic Diseases
- Blood Disorders
- Other Indication
Global Biosimilar Monoclonal Antibodies Market, by Region, 2020-2030 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Biosimilar Monoclonal Antibodies Market, by Country, 2020-2030 (Value US$ Mn)
- U.S.
- Canada
Europe Biosimilar Monoclonal Antibodies Market, by Country, 2020-2030 (Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Biosimilar Monoclonal Antibodies Market, by Country, 2020-2030 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Biosimilar Monoclonal Antibodies Market, by Country, 2020-2030 (Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Biosimilar Monoclonal Antibodies Market, by Country, 2020-2030 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Why should get this report:
- To receive a thorough clinical trial/pipeline analysis of the prospects for the global biosimilar monoclonal antibodies market
- To get an market overview and future trends of the biosimilar monoclonal antibodies industry
- To analyze the biosimilar monoclonal antibodies market drivers and challenges
- To get information on the biosimilar monoclonal antibodies market size (Value US$ Mn) forecast to 2030
- Major investments, mergers & acquisitions in the biosimilar monoclonal antibodies market industry
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Other Related Reports Published by InsightAce Analytic:
Global Trastuzumab Biosimilar Market
Global Adalimumab Biosimilar Market
Global Infliximab Biosimilar Market
Global Bevacizumab Biosimilar Market
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