Overview and Scope
Biosimilar monoclonal antibodies refer to a member of the family of biosimilars. Large, intricate proteins are typically given as part of the treatment for conditions like cancer or rheumatoid arthritis. They are employed by the immune system to recognize and destroy foreign substances, including bacteria, viruses, and others.
Sizing and Forecast
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 in the historic period can be attributed to patent expirations, growing awareness of biosimilars, government initiatives, increasing investment from pharmaceutical companies, growing acceptance of biosimilars by clinicians and patients.
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 growth in the forecast period can be attributed to rising biologic expenditure, biosimilar portfolio expansion, personalization of biosimilar therapy, increasing public interest in biosimilars. Major trends in the forecast period include therapeutic expansion, personalized biosimilars, collaborations and partnerships, biosimilar autoinjectors and devices, biobetters.
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Segmentation & Regional Insights
The biosimilar monoclonal antibodies market covered in this report is segmented –
1) By Type: Synthetic Chemicals, Biopharmaceuticals, Other Types
2) By Compound: Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab
3) By Application: Chronic & Autoimmune Diseases, Oncology, Other Applications
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.
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Major Driver Impacting Market Growth
The prevalence of chronic diseases is expected to drive the biosimilar monoclonal antibodies market. Biosimilar monoclonal antibodies are used to treat chronic diseases such as cancer, autoimmune diseases, and rheumatoid arthritis. In cancer treatment, biosimilars of monoclonal antibodies such as trastuzumab, bevacizumab, and rituximab are used. Moreover, the incidence of cancer is increasing year by year. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, it is projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the prevalence of chronic diseases is expected to drive the growth of the biosimilar monoclonal antibodies market.
Key Industry Players
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.
The biosimilar monoclonal antibodies market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Biosimilar Monoclonal Antibodies Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Biosimilar Monoclonal Antibodies Market, Segmentation By Compound, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Biosimilar Monoclonal Antibodies Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Pfizer Inc. Financial Performance
Table 75: Novartis AG Financial Performance
Table 76: AbbVie Inc. Financial Performance
Table 77: Coherus BioSciences Financial Performance
Table 78: Biocon Limited Financial Performance
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