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Bevacizumab Biosimilars Global Market Report 2024 - By Report, Size, Share, Demand And Forecast To 2033
Bevacizumab Biosimilars Market
As per the report, 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 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%.
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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.
Advancing Product Innovation In Bevacizumab Biosimilars Market
Product innovation has emerged as a key trend gaining popularity in the bevacizumab biosimilars market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in May 2022, Viatris, a US-based pharmaceutical company, and Biocon Biologics, a US-based pharmaceutical company, launched a biosimilar called Abevmy (bevacizumab), which is a biosimilar like Roche's Avastin (bevacizumab). Abevmy has received approval from Health Canada for use across four oncology indications. The product offers efficacy, safety, and quality like the reference biologic, as it is a synthesized humanized monoclonal antibody (MA) that binds to and neutralizes the biologic action of human vascular endothelial growth factor (VEGF).
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
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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
Contents of the report:
1. Executive Summary
2. Bevacizumab Biosimilars Market Report Structure
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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