Biosimilar Monoclonal Antibodies Market Research 2024-2033 - Outlook, Overview And Competitor Analysis

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.

Market Overview -
Biosimilar monoclonal antibodies refer to a member of the family of biosimilars. Large, intricate proteins are typically given as part of the treatment for conditions like cancer or rheumatoid arthritis. They are employed by the immune system to recognise and destroy foreign substances, including bacteria, viruses, and others.

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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.

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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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