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Key Trends Reshaping the Bevacizumab Biosimilars Market: Advancing Product Innovation In Bevacizumab Biosimilars Market Industry Transformation
Bevacizumab Biosimilars
Bevacizumab Biosimilars Market Size Growth Forecast: What to Expect by 2025?
Over the past few years, the bevacizumab biosimilars market has been experiencing robust growth. The market, which was valued at $1.53 billion in 2024, will surge to $1.64 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.2%. This upward trajectory during the historical period is attributed to factors such as the expiration of patents, containing healthcare costs, a rising prevalence of cancer, market competitiveness, access to and affordability of patients, as well as the acceptance of biosimilars.
How Will the Bevacizumab Biosimilars Market Size Evolve and Grow by 2029?
The market size for bevacizumab biosimilars is anticipated to exhibit robust expansion in the coming years, predicted to attain "$2.23 billion by 2029" with a Compound Annual Growth Rate (CAGR) of 7.9%. The predicted growth during the forecast period can be linked to the increasing need for cancer treatments, expertise in biosimilar development, healthcare system challenges, biosimilar regulatory environments, and biosimilar interchangeability. The forecast period will see major trends such as alliances and collaborations, progressive regulations and approvals, innovative development of biosimilars, market access tactics, and biosimilar lifecycle management.
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What Drivers Are Propelling the Growth of Bevacizumab Biosimilars Market Forward?
The growth of the bevacizumab biosimilar market is projected to be driven by the increasing number of cancer cases. The term "cancer incidence" refers to the quantity of new cancer cases in a certain population during a specified timeframe. Bevacizumab, a biologic, has the ability to inhibit tumor angiogenesis, potentially leading to tumor shrinkage and growth suppression. It is equivalent to reference biologics in efficacy and patient safety when administered to advanced non-small cell lung cancer or metastatic colorectal cancer patients. For example, in October 2024, the UK's National Health Service (NHS) revealed that there were 346,217 new cancer diagnoses in 2022, averaging 948 cases per day, indicating a 5% rise compared to the 329,664 diagnoses recorded in 2021. Cancer diagnoses also saw a 7% increase, up from 167,917 in 2021 to 180,877 in 2022. As a result, the surge in cancer cases is propelling the bevacizumab biosimilars market.
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What Trends Will Shape the Bevacizumab Biosimilars Market Through 2029 and Beyond?
A significant trend gaining traction in the bevacizumab biosimilars market revolves around product innovation. Leading market participants are focusing on developing novel products to consolidate their market presence. For instance, in May 2022, Viatris and Biocon Biologics, both US-based pharmaceutical companies, introduced a biosimilar named Abevmy (bevacizumab), analogous to Roche's Avastin (bevacizumab). Health Canada approved Abevmy for use in four oncology prescriptions. This product exhibits the same efficacy, safety, and quality as the reference biologic owing to its synthesis as a humanized monoclonal antibody (MA) that curbs and nullifies the biological function of human vascular endothelial growth factor (VEGF).
What Are the Key Segments in the Bevacizumab Biosimilars Market?
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
Subsegments:
1) By Avastin: Original Avastin Product
2) By Mvasi: Mvasi (Amgen Biosimilar)
3) By Zirabev: Zirabev (Pfizer Biosimilar)
4) By Aybintio: Aybintio (Samsung Bioepis Biosimilar)
5) By Other Products: Additional Bevacizumab Biosimilars
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Who Are the Key Players Shaping the Bevacizumab Biosimilars Market's Competitive Landscape?
Major companies operating in the bevacizumab biosimilars market include Cipla Limited, Reliance lifesciences Pvt. Ltd., Fujifilm Kyowa Kirin Biologics Co. Ltd., Pfizer 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., Apotex Inc., BioXpress Therapeutics SA, mAbxience SA
What Geographic Markets Are Powering Growth in the Bevacizumab Biosimilars Market?
North America was the largest region in the bevacizumab biosimilars market in 2024. The regions covered in the bevacizumab biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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