PUBLISHER: The Business Research Company | PRODUCT CODE: 1426176
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426176
Biosimilar monoclonal antibodies belong to a subset of biosimilars known for their role in treating conditions like cancer or rheumatoid arthritis. These intricate proteins are integral in the immune system's function, identifying and eliminating foreign substances such as bacteria and viruses.
Within the category of biosimilar monoclonal antibodies, key types include synthetic chemicals, biopharmaceuticals, and others. Biopharmaceuticals, often referred to as biologic medical products, are pharmaceutical drugs derived from biological sources or semi-synthesized compounds. Notable compounds in this category include infliximab, rituximab, abciximab, trastuzumab, adalimumab, and bevacizumab. They find applications across various medical domains including chronic and autoimmune diseases, oncology, and other therapeutic areas. These biosimilar monoclonal antibodies play a crucial role in addressing a wide spectrum of health conditions.
The biosimilar monoclonal antibodies market research report is one of a series of new reports from The Business Research Company that provides biosimilar monoclonal antibodies market statistics, including industry global market size, regional shares, competitors with a biosimilar monoclonal antibodies market share, detailed biosimilar monoclonal antibodies market segments, market trends and opportunities, and any further data you may need to thrive in the biosimilar monoclonal antibodies industry. This biosimilar monoclonal antibody market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed in the historical period can be attributed to several factors. These include the expiration of patents for certain medications, heightened awareness regarding the efficacy and availability of biosimilars, governmental initiatives supporting their development and utilization, increased investments from pharmaceutical companies in this sector, and a growing acceptance of biosimilars among both clinicians and patients. These elements collectively contributed to the growth and adoption of biosimilars during this period.
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 anticipated growth in the upcoming period is expected to be driven by increasing expenditure on biologic medications, the continual expansion of biosimilar portfolios, the trend towards personalized biosimilar therapy, and a growing public interest in biosimilars. Key trends forecasted for this period include the expansion of therapeutic applications for biosimilars, the development of personalized biosimilar treatments, a rise in collaborations and partnerships within the industry, the emergence of specialized devices such as biosimilar autoinjectors, and the evolution of biobetters - improved versions of existing biologic medications. These trends are anticipated to shape the landscape of biosimilars, emphasizing innovation and expanding their accessibility and applications.
The biosimilar monoclonal antibodies market is anticipated to expand due to the rising prevalence of chronic diseases. Chronic conditions like cancer, autoimmune diseases, and rheumatoid arthritis are treated using biosimilar monoclonal antibodies like trastuzumab, bevacizumab, and rituximab. The incidence of cancer is on the rise, with projections from the National Center for Biotechnology Information indicating a significant surge in individuals aged 50 and older with at least one chronic illness by 2050, reaching 142.66 million from 71.522 million in 2020. This anticipated increase in chronic diseases is expected to fuel market growth for biosimilar monoclonal antibodies.
The growing geriatric population is also set to drive the biosimilar monoclonal antibodies market. These antibodies offer cost-effective access to vital therapies, enhancing treatment affordability and quality of life for older adults combating chronic diseases. The World Health Organization's estimates indicate a substantial rise in the elderly population, with projections of 2.1 billion elderly individuals globally by 2050, illustrating the significance of biosimilar monoclonal antibodies in catering to the healthcare needs of this demographic.
Abzena's collaboration with BioXpress Therapeutics in July 2021 aimed to bolster the biosimilar development landscape. This partnership focused on offering an integrated approach encompassing design advice, cell line development, clinical and commercial manufacturing for third-party biosimilar medication manufacturers. By combining their strengths, the collaboration aimed to streamline drug development processes, offering a flexible and innovative strategy from small-scale development to large-scale production in the biosimilars sector.
Innovations in the biosimilar monoclonal antibody market involve the development of biosimilar versions of therapeutic chimeric monoclonal antibodies. For instance, Enzene Biosciences Ltd.'s launch of Cetuximab in May 2021, a biosimilar of the cancer drug Erbitux, aimed to expand treatment options for conditions like metastatic colorectal cancer and head and neck cancer. The Cetuximab biosimilar was manufactured using a Chinese Hamster Ovary (CHO) cell line, resulting in more human-like glycosylation patterns and, reportedly, a reduced incidence of adverse effects observed in clinical studies in India. This innovation broadens therapeutic alternatives and enhances treatment efficacy while addressing adverse reactions associated with certain medications.
In November 2022, Biocon Biologics Ltd., an India-based biopharmaceutical company, successfully acquired Viatris Inc.'s biosimilars business, marking a significant strategic move. The acquisition, though the financial details were undisclosed, positions Biocon Biologics closer to patients, customers, and payors, enhancing their direct commercial capabilities and bolstering infrastructure in both advanced markets and several emerging regions.
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.
North America was the largest region in the biosimilar monoclonal antibodies market in 2023. The regions covered in the biosimilar monoclonal antibodies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the biosimilar monoclonal antibodies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The biosimilar monoclonal antibodies market consists of sales of Blitzima, Ritemvia, Rituzena, and Truxima. Values in this market are 'factory gate values,' that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biosimilar Monoclonal Antibodies Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biosimilar monoclonal antibodies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biosimilar monoclonal antibodies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biosimilar monoclonal antibodies market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.