How Has The Computer Vision in Bevacizumab Biosimilars Market Size Evolved In Recent Years?
The bevacizumab biosimilars market has seen considerable growth due to a variety of factors.
• The market size of bevacizumab biosimilars has significantly amplified in the last few years. It is projected to expand from $1.53 billion in 2024 to $1.66 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.2%.
The surge during the historic period is linked to factors like patent expiration, healthcare cost containment, a rise in cancer cases, market competitiveness, patient accessibility and affordability, and the acceptance of biosimilars.
What Is The Forecast For The Bevacizumab Biosimilars Market By 2029?
The bevacizumab biosimilars market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for substantial expansion in the bevacizumab biosimilars market in the coming years. The market is projected to reach a worth of $2.27 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%.
The anticipated growth during this period can be linked to an escalating demand for cancer treatments, expertise in biosimilar development, strain on healthcare systems, regulatory environment for biosimilars, and biosimilar interchangeability. Key trends predicted to emerge include collaborations and partnerships, progression in regulatory approvals, innovation in biosimilar development, strategies for market access, and management of the biosimilar lifecycle.
What Are the Critical Driver Fuelling the Bevacizumab Biosimilars Market's Growth?
The increase in cancer occurrences is anticipated to boost the expansion of the bevacizumab biosimilar market in the future. Cancer incidence details the count of fresh cancer cases within a certain population over a given time. Bevacizumab, a biologic, obstructs tumor angiogenesis, resulting in the reduction and prohibiting the growth of tumors. It mirrors reference biologics in its safety and efficiency in treating patients with advanced non-small cell lung cancer or metastatic colorectal cancer. For example, the UK's National Health Service (NHS) in October 2024, reported that new cancer diagnoses in 2022 amounted to 346,217, averaging around 948 cases daily, showing a 5% growth compared to the 329,664 diagnoses in 2021. The count of cancer diagnoses also witnessed a 7% surge, rising to 180,877 in 2022 from 167,917. Therefore, the increasing occurrence of cancer cases is driving the growth of the bevacizumab biosimilars market.
How Is The Globa Bevacizumab Biosimilars Market Divided Into Key Segments?
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
Subsegments:
1) By Avastin: Original Avastin Product
2) By Mvasi: Mvasi (Amgen Biosimilar)
3) By Zirabev: Zirabev (Pfizer Biosimilar)
4) By Aybintio: Aybintio (Samsung Bioepis Biosimilar)
5) By Other Products: Additional Bevacizumab Biosimilars
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What Trends Are Reshaping The Bevacizumab Biosimilars Market?
Product innovation is rising as a crucial trend in the bevacizumab biosimilars market, with dominant market participants focusing on innovating new products to secure their market position. For example, in May 2022, US-based pharmaceutical corporations Viatris and Biocon Biologics introduced a biosimilar named Abevmy (bevacizumab), akin to Roche's Avastin (bevacizumab). Abevmy secured approval from Health Canada for usage in four different oncology indications. The product delivers safety, effectiveness, and quality comparable to the parent biologic, being a synthesized humanized monoclonal antibody (MA) that attaches to and nullifies the biologic activity of human vascular endothelial growth factor (VEGF).
Who Are the Key Players in the Bevacizumab Biosimilars Market?
Major companies operating in the bevacizumab biosimilars market include:
• Cipla Limited
• Reliance lifesciences Pvt. Ltd.
• Fujifilm Kyowa Kirin Biologics Co. Ltd.
• Pfizer 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.
• Apotex Inc.
• BioXpress Therapeutics SA
• mAbxience SA
What are the Regional Insights into the Bevacizumab Biosimilars Market?
North America was the largest region in the bevacizumab biosimilars market in 2024. The regions covered in the bevacizumab biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
