Biosimilar Monoclonal Antibody Market By Type (Adalimumab, Bevacizumab, Infliximab, Rituximab, Trastuzumab, Others), By Indication (Oncology, Autoimmune diseases, Others), By End User (Hospitals, Cancer treatment centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The biosimilar monoclonal antibody market was valued for $8,727.00 million in 2022 and is estimated to reach $64,699.19 million by 2032, exhibiting a CAGR of 22.2% from 2023 to 2032. Biosimilar monoclonal antibodies are biologic treatments that closely resemble established reference monoclonal antibodies, commonly referred to as originator or innovator monoclonal antibodies. These similarities encompass aspects such as structure, function, effectiveness, safety, and quality. Monoclonal antibodies (mAbs) are large proteins produced in living cells and are designed to target specific molecules or cells in the body involved in disease processes. Biosimilar monoclonal antibodies find application in a range of therapeutic areas, including oncology, immunology, and infectious diseases. Biosimilar monoclonal antibodies are produced by different manufacturers other than the originator product but demonstrate no clinically meaningful differences from the reference product. They undergo rigorous analytical and clinical testing to establish their similarity with reference biosimilars and demonstrate safety and efficacy.
The major factors driving the growth of biosimilar monoclonal antibody market are increasing demand for biosimilar mAbs, supportive regulatory environment, and increase in patent expirations of blockbuster monoclonal antibodies. Monoclonal antibodies and similar biologic medications have emerged as essential choices for addressing a variety of persistent and intricate health conditions, including cancer, autoimmune disorders, and inflammatory issues. Rise in prevalence of these diseases, coupled with the increasing aging population, has led to a higher demand for biologics, including biosimilar mAbs. In addition, biosimilar mAbs are generally more cost-effective than their originator counterparts. As the innovative monoclonal antibodies are highly costly, healthcare providers and payers are increasingly seeking cost-saving options without compromising on therapeutic efficacy. Biosimilars offer a more affordable treatment option, which can lead to increase in adoption in both, developed and developing markets.
Furthermore, due to patent expirations and advancements in biotechnological research, manufacturers of biosimilars have had the opportunity to investigate fresh therapeutic applications for their offerings. This widens the potential applications of biosimilar mAbs. Furthermore, increase in the number of biosimilar manufacturers and their willingness to invest in R&D and production capabilities have intensified competition in the biosimilar mAbs market, which contributes to lowering prices and enhancing overall market penetration. Moreover, regulatory agencies in many countries, including the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have established clear guidelines for the approval of biosimilar products. These guidelines provide a transparent pathway for development, testing, and approval of biosimilar mAbs, which boosts the confidence of manufacturers entering the market.
The biosimilar monoclonal antibody market is segmented on the type, indication, end user and region. On the basis of type, the market is categorized into adalimumab, bevacizumab, infliximab, rituximab, trastuzumab, and others. On the basis of indication, the market is classified into oncology, autoimmune diseases, and others. On the basis of end user, the market is segmented into hospitals, cancer treatment centers and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global biosimilar monoclonal antibody market are Novartis AG, Pfizer Inc., Amgen Inc., Coherus BioSciences, Inc., Teva Pharmaceutical Industries Limited, Shanghai Henlius Biotech, Inc., BIOCAD, Biogen, Biocon, and Celltrion Healthcare Co., Ltd. The key players have adopted strategies such as collaboration, product launch, agreement, clinical trial approval, acquisition, and product approval to expand their product portfolio.
Key Benefits for StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biosimilar monoclonal antibody market analysis from 2022 to 2032 to identify the prevailing biosimilar monoclonal antibody market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the biosimilar monoclonal antibody market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global biosimilar monoclonal antibody market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeAdalimumab
Bevacizumab
Infliximab
Rituximab
Trastuzumab
Others
By IndicationOncology
Autoimmune diseases
Others
By End UserHospitals
Cancer treatment centers
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Amgen Inc.
Novartis AG
Teva Pharmaceutical Industries Limited
Shanghai Henlius Biotech, Inc.
BIOCAD
Celltrion Healthcare Co., Ltd.
Biocon
Coherus BioSciences, Inc.
Pfizer Inc.
Biogen
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