The global biosimilar monoclonal antibodies market size is expected to grow from $4.51 billion in 2021 to $5.47 billion in 2022 at a compound annual growth rate (CAGR) of 21.3%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilar MAbs market is expected to reach $10.64 billion in 2026 at a CAGR of 18.1%.
What is the Global Biosimilar Monoclonal Antibodies Market?
The biosimilar monoclonal antibodies market consists of sales of biosimilar monoclonal antibodies and related services by entities (organizations, sole traders and partnerships) that produce biosimilar monoclonal antibodies, which are used to treat patients with chronic diseases such as cancer, rheumatoid arthritis, and autoimmune disease. Biosimilar monoclonal antibodies are highly similar to actual monoclonal antibodies in terms of pharmaceutical quality, safety, and efficacy, and are used to boost immunity by identifying and neutralizing foreign bodies. The market consists of revenue generated by the biosimilar monoclonal antibodies companies by the sales of these products.
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What drives the Global Biosimilar Monoclonal Antibodies Market?
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 disease, 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. According to the American cancer society (ACS), in 2020, about 1.8 million new cancer cases are expected in the United States. Therefore, the prevalence of chronic diseases including cancer is expected to drive the biosimilar monoclonal antibodies market.
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Global Biosimilar Monoclonal Antibodies Market Segments
The global biosimilar monoclonal antibodies market is segmented:
By Type: Synthetic Chemicals, Biopharmaceuticals, Others
By Application: Chronic and Autoimmune Diseases, Oncology, Others
By Compound: Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab
By Geography: 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.
Biosimilar Monoclonal Antibodies Global Market Report 2022provides market size and growth forecasts for the global biosimilar monoclonal antibodies market, global biosimilar monoclonal antibodies market share, biosimilar monoclonal antibodies market segments and geographies, biosimilar monoclonal antibodies market competitive landscape including leading competitors’ revenues, profiles and market shares. The biosimilar monoclonal antibodies market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Biosimilar Monoclonal Antibodies Industry Playersinclude Pfizer, Novartis, Allergan, Coherus BioSciences, Biocon, Amgen, Boehringer Ingelheim, Celltrion, BioXpress Therapeutics and Intas Pharmaceuticals Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
