The Bevacizumab Biosimilars Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Bevacizumab Biosimilars Global Market Report 2024, 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.
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.
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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
Major companies operating in the bevacizumab biosimilars market are undergoing into strategic collaborations to develop Next-Generation Biosimilars to strengthen and sustain their position in the market. Next-generation biosimilars contribute to the bevacizumab biosimilars market by offering advancements in technology, manufacturing processes, and therapeutic efficacy. For instance, in May 2022, Prestige Biopharma, a Singapore-based pharmaceutical company, and Intas Pharmaceuticals, an India-based multinational pharmaceutical company, have formed an exclusive partnership for Prestige's bevacizumab biosimilar, HD204, covering regions like the US, Europe, and parts of Asia and Africa. HD204, currently in Phase III development, is a biosimilar to Roche's Avastin, used for various cancers. The collaboration allows Intas to commercialize the biosimilar, leveraging its sales and marketing strength. This aligns with Prestige's strategy to expand market reach and offer affordable access to patients through its bevacizumab production technology.
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 analysis
5.Bevacizumab Biosimilars Market Size And Growth
6.Bevacizumab Biosimilars Segmentation
7. Bevacizumab Biosimilars Regional And Country Analysis
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27.Bevacizumab Biosimilars Competitive Landscape And Company Profiles
28.Bevacizumab Biosimilars Key Mergers And Acquisitions
29.Bevacizumab Biosimilars Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Cipla Limited
- Reliance lifesciences Pvt. Ltd.
- Genentech Inc.
- Fujifilm Kyowa Kirin Biologics Co. Ltd.
- Pfizer Inc.
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