Biosimilar Monoclonal Antibodies Market Comprehensive Study: Forecasted Market Size And Growth Rate

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Biosimilar Monoclonal Antibodies Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The biosimilar monoclonal antibodies market size has grown rapidly in recent years. It will grow from $8.04 billion in 2023 to $9.25 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to patent expirations, growing awareness of biosimilars, government initiatives, increasing investment from pharmaceutical companies, growing acceptance of biosimilars by clinicians and patients.

The biosimilar monoclonal antibodies market size is expected to see rapidly grown in the next few years. It will grow to $12.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to rising biologic expenditure, biosimilar portfolio expansion, personalization of biosimilar therapy, increasing public interest in biosimilars. Major trends in the forecast period include therapeutic expansion, personalized biosimilars, collaborations and partnerships, biosimilar autoinjectors and devices, biobetters.

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Market Segmentation:
The biosimilar monoclonal antibodies market covered in this report is segmented -

1) By Type: Synthetic Chemicals, Biopharmaceuticals, Other Types
2) By Compound: Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab
3) By Application: Chronic & Autoimmune Diseases, Oncology, Other Applications

Major Driver - Rising Prevalence Of Chronic Diseases Fuels Growth In The Biosimilar Monoclonal Antibodies Market
The prevalence of chronic diseases is expected to drive the biosimilar monoclonal antibodies market. Biosimilar monoclonal antibodies are used to treat chronic diseases such as cancer, autoimmune diseases, and rheumatoid arthritis. In cancer treatment, biosimilars of monoclonal antibodies such as trastuzumab, bevacizumab, and rituximab are used. Moreover, the incidence of cancer is increasing year by year. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, it is projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the prevalence of chronic diseases is expected to drive the growth of the biosimilar monoclonal antibodies market.

Competitive Landscape:
Major companies operating in the biosimilar monoclonal antibodies market include Pfizer Inc., Novartis AG, AbbVie Inc., Coherus BioSciences, Biocon Limited, Amgen Inc., Boehringer Ingelheim International GmbH, Celltrion Inc., BioXpress Therapeutics SA, Intas Pharmaceuticals Limited, Genor BioPharma Co. Ltd., BIOCAD, Dr. Reddy's Laboratories Ltd., 3SBio Inc., Reliance Life Sciences, Hisun Pharmaceuticals, Celgen Biopharmaceuticals, Torrent Pharmaceuticals Ltd., Cadila Healthcare Ltd., Shanghai Henlius Biotech Inc., Teva Pharmaceutical Industries Ltd., Alvotech, Xentria Inc., Lazuline Biotech Private Limited, Epygen Biotech Pvt Ltd., Mabpharm Limitied, Qilu Pharmaceutical Co. Ltd., Chiatai Tianqing Pharmaceutical Group Co. Ltd., YL Biologics Ltd., Aprogen Biologics, UNDBIO Co Ltd., Samsung Bioepis Co. Ltd., ISU Abxis Corp., Bio-Rad Laboratories Inc.

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Top Trend - Abzena And Bioxpress Therapeutics Forge Strategic Partnership To Accelerate Biosimilar Development
For instance, in July 2021, Abzena, a US-based partner research organization for biologics and bioconjugates, partnered with BioXpress Therapeutics to support biosimilar development for third-party customers. The collaboration aims to provide biosimilar medication manufacturers with an integrated approach to biosimilars that includes design advice, cell line and process development, and clinical and commercial GMP manufacturing. This collaboration enables the biosimilars sector to shorten drug development times. The strengths of BioXpress Therapeutics and Abzena are complementary, and this collaboration provides a flexible and innovative strategy from small-scale biosimilar development to large-scale manufacturing.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biosimilar Monoclonal Antibodies Market Characteristics
3. Biosimilar Monoclonal Antibodies Market Trends And Strategies
4. Biosimilar Monoclonal Antibodies Market - Macro Economic Scenario
5. Biosimilar Monoclonal Antibodies Market Size And Growth
…..
27. Biosimilar Monoclonal Antibodies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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