Global Biosimilar Monoclonal Antibodies Market to be Dominated by Oncology Through 2028
Rising Prevalence of cancer
and autoimmune diseases and favorable regulations are driving Global Biosimilar
Monoclonal Antibodies Market in the forecast period 2024-2028.
According
to TechSci Research report, “Biosimilar
Monoclonal Antibodies Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028”, The market of the biosimilar mAbs market holds great promise and stood
at USD5.22 billion in 2022 and is expected to grow at a robust rate of 11.87%
through 2028. With ongoing advancements in biotechnology and manufacturing
processes, we can expect to see improvements in the quality and consistency of
biosimilar products. As regulatory pathways continue to evolve and gain
acceptance, the market is likely to expand further, creating more opportunities
for both established players and newcomers. As the biosimilar mAbs market
matures, it has the potential to reshape healthcare by providing cost-effective
treatment options to a broader patient population. This could lead to reduced
healthcare costs, improved patient access, and enhanced healthcare
sustainability. The biosimilar
monoclonal antibodies market is witnessing a surge in growth, driven by rising
regulatory support, technological advancements, and the need for cost-effective
therapeutic options. The strict evaluation processes set by regulatory agencies
have instilled confidence in the safety and efficacy of these products. As the
market continues to expand, patients, healthcare professionals, and governments
stand to benefit from increased access to high-quality treatments at more
affordable prices.
However, developing
biosimilar monoclonal antibodies requires substantial investments in research
and development, clinical trials, and manufacturing capabilities. Additionally,
ensuring interchangeability with reference products and overcoming physician
and patient hesitancy pose ongoing hurdles, which may hamper the growth of the
market in the projected period.
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Global
Biosimilar Monoclonal Antibodies is segmented based on Product and Application.
Based
on Product, the market is divided into Infliximab, Rituximab, Abciximab,
Trastuzumab, Adalimumab, Bevacizumab and Other. The Infliximab segment is
expected to witness a rise over the forecast period. This is attributed to the
fact that the patents for the originator infliximab began to expire, opening
the doors for other pharmaceutical companies to develop and market their
biosimilar versions. Further, various other pharmaceutical companies, both
established and emerging, have joined the race to develop infliximab
biosimilars, intensifying competition in the market.
Based
on Application, the market is divided into Oncology, Chronic & Autoimmune
Diseases and Others. The Oncology segment is expected to witness a rise over
the forecast period. This is attributed to the fact that oncology treatments
are often associated with substantial financial burdens on patients, healthcare
systems, and payers. Biosimilar mAbs offer an attractive solution by providing
cost-effective alternatives to the expensive originator mAbs. As governments
and healthcare providers seek to control escalating healthcare costs,
biosimilar adoption becomes a logical choice. Oncology biosimilars, due to
their competitive pricing, are poised to make a significant impact in cost
containment efforts.
Major
companies operating in Global Biosimilar Monoclonal Antibodies market
are:
- Abbott
- Pfizer
- Novartis AG
- AbbVie, Inc.
- Coherus BioSciences
- Biocon Limited
- Allergan plc.
- Accord Healthcare limited.
- Amgen inc.
- Dr. Reddy’s Laboratory
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"
Asia Pacific domination in Biosimilar Monoclonal Antibodies reflects its
commitment to advancing healthcare through technological innovation, research,
and proactive public health initiatives. The vast and diverse patient
populations across the Asia-Pacific region offer a significant advantage in
terms of market expansion. With different demographics and disease profiles,
biosimilar monoclonal antibodies can address a wide range of medical needs.
This versatility has attracted both domestic and multinational manufacturers,
leading to increased competition and a more vibrant biosimilar market. One of
the primary reasons for Asia-Pacific's dominance in the biosimilar monoclonal
antibodies market is the cost-effectiveness of locally produced biosimilars. By
offering competitive pricing compared to originator products, Asian
manufacturers have gained a strong foothold in both domestic and global
markets. This pricing strategy aligns with the region's healthcare objectives
of delivering high-quality treatment options at affordable rates and is
creating favorable conditions to boost the global demand for Biosimilar
Monoclonal Antibodies till 2028.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Biosimilar
Monoclonal Antibodies Market, - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented By Product (Infliximab, Rituximab,
Abciximab, Trastuzumab, Adalimumab, Bevacizumab and Other), By Application
(Oncology, Chronic & Autoimmune Diseases, Others), By Region, By
Competition.,
has evaluated the future growth potential of global Biosimilar Monoclonal
Antibodies and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Biosimilar
Monoclonal Antibodies market.”
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