Overview and Scope
Bevacizumab biosimilars are a type of medication that is highly similar to a reference biologic drug called bevacizumab. It is commonly used to inhibit the growth of new blood vessels in tumors, thereby slowing down their progression.
Sizing and Forecast
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 growth in the historic period can be attributed to patent expiry, cost containment in healthcare, increasing incidence of cancer, market competitiveness, patient access and affordability, biosimilar acceptance.
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%. The growth in the forecast period can be attributed to rising demand for cancer therapies, biosimilar development expertise, healthcare system pressures, biosimilar regulatory landscape, biosimilar interchangeability. Major trends in the forecast period include collaborations and partnerships, regulatory advancements and approvals, biosimilar development and innovation, market access strategies, biosimilar lifecycle management.
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Segmentation & Regional Insights
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
North America was the largest region in the bevacizumab biosimilars market in 2023. 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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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The bevacizumab biosimilars market report table of contents includes:
1. Executive Summary
2. Bevacizumab Biosimilars Market Characteristics
3. Bevacizumab Biosimilars Market Trends And Strategies
4. Bevacizumab Biosimilars Market – Macro Economic Scenario
5. Global Bevacizumab Biosimilars Market Size and Growth
…
32. Global Bevacizumab Biosimilars Market Competitive Benchmarking
33. Global Bevacizumab Biosimilars Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bevacizumab Biosimilars Market
35. Bevacizumab Biosimilars Market Future Outlook and Potential Analysis
36. Appendix
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