Press release
Bevacizumab Biosimilars Market Report Trends And Analysis, Forecast Report 2024 To 2033
Bevacizumab Biosimilars Market
The Business Research Company offers in-depth market insights through Bevacizumab Biosimilars 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 bevacizumab biosimilars market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.55 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to patent expiry, cost containment in healthcare, increasing incidence of cancer, market competitiveness, patient access and affordability, biosimilar acceptance.
The bevacizumab biosimilars market size is expected to see strong growth in the next few years. It will grow to $2.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rising demand for cancer therapies, biosimilar development expertise, healthcare system pressures, biosimilar regulatory landscape, biosimilar interchangeability. Major trends in the forecast period include collaborations and partnerships, regulatory advancements and approvals, biosimilar development and innovation, market access strategies, biosimilar lifecycle management.
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Market Segmentation:
The bevacizumab biosimilars market covered in this report is segmented -
1) By Product: Avastin, Mvasi, Zirabev, Aybintio, Other Products
2) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, Other Distribution Channels
3) By Application: Colorectal Cancer, Non-small Cell Lung Cancer, Glioblastoma, Renal Cell Carcinoma, Cervical Cancer, Ovarian Cancer
Major Driver - Growing Cancer Prevalence Fuels Bevacizumab Biosimilars Market Expansion
The rising prevalence of cancer cases is expected to propel the growth of the bevacizumab biosimilars market going forward. Cancer incidence refers to the number of new cancer cases in a specific population for a given period. Bevacizumab is a biologic that inhibits tumor angiogenesis, which can lead to tumor shrinkage and growth inhibition, and it is comparable to reference biologics in terms of efficacy and safety in treating patients with advanced non-small cell lung cancer or metastatic colorectal cancer. For instance, in October 2022, according to reports published by Macmillan Cancer Support, a UK-based health care charity organization, it was anticipated that there were 3 million cancer patients in 2020, with that figure expected to climb to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Therefore, the rising prevalence of cancer cases drives the bevacizumab biosimilars market.
Competitive Landscape:
Major companies operating in the bevacizumab biosimilars market report are Cipla Limited, Reliance lifesciences Pvt. Ltd., Genentech Inc, Fujifilm Kyowa Kirin Biologics Co. Ltd., Pfizer Inc., Abbvie Inc., Amgen Inc., F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., Mylan Inc., Daiichi Sankyo Company Limited, Beaconpharma Ltd., Innovent Biologics Inc., STADA Arzneimittel AG, Shanghai Henlius Biotech Inc., Aurobindo Pharma Ltd., Dr. Reddy's Laboratories Ltd., Biocon Ltd., Intas Pharmaceuticals Ltd., Amneal Pharmaceuticals LLC, Samsung Bioepis Co. Ltd., Celltrion Inc., Coherus BioSciences Inc., Hetero Drugs Ltd., EirGen Pharma Ltd., Allergan Plc., Apotex Inc., BioXpress Therapeutics SA, Celgene Corporation Co. Ltd., mAbxience SA
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Top Trend - Fostering Next-Generation Biosimilars Through Strategic Collaborations In Bevacizumab Biosimilars Market
Major companies operating in the bevacizumab biosimilars market are undergoing into strategic collaborations to develop Next-Generation Biosimilars to strengthen and sustain their position in the market. Next-generation biosimilars contribute to the bevacizumab biosimilars market by offering advancements in technology, manufacturing processes, and therapeutic efficacy. For instance, in May 2022, Prestige Biopharma, a Singapore-based pharmaceutical company, and Intas Pharmaceuticals, an India-based multinational pharmaceutical company, have formed an exclusive partnership for Prestige's bevacizumab biosimilar, HD204, covering regions like the US, Europe, and parts of Asia and Africa. HD204, currently in Phase III development, is a biosimilar to Roche's Avastin, used for various cancers. The collaboration allows Intas to commercialize the biosimilar, leveraging its sales and marketing strength. This aligns with Prestige's strategy to expand market reach and offer affordable access to patients through its bevacizumab production technology.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Bevacizumab Biosimilars Market Characteristics
3. Bevacizumab Biosimilars Market Trends And Strategies
4. Bevacizumab Biosimilars Market - Macro Economic Scenario
5. Bevacizumab Biosimilars Market Size And Growth
…..
27. Bevacizumab Biosimilars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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