The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The biosimilar monoclonal antibodies market has experienced substantial growth, witnessing an ascent from $5.47 billion in 2022 to $6.63 billion in 2023, marking an impressive Compound Annual Growth Rate (CAGR) of 21.3%. Looking ahead, projections anticipate continued expansion, with the market size expected to reach $11.29 billion in 2027, maintaining a healthy CAGR of 14.3%.

Chronic Diseases Fueling Growth

1. Prevalence of Chronic Diseases

• Biosimilar monoclonal antibodies are instrumental in treating chronic conditions such as cancer, autoimmune diseases, and rheumatoid arthritis.
• Notably, in cancer treatment, monoclonal antibody biosimilars like trastuzumab, bevacizumab, and rituximab play a crucial role.
• The American Cancer Society (ACS) reported an estimated 1.8 million new cancer cases in the United States in 2020, underscoring the increasing burden of chronic diseases.
• The rising incidence of chronic diseases, including cancer, is a driving force behind the market’s growth.

Industry Dynamics and Key Players

2. Key Players

• Major players in the biosimilar monoclonal antibodies market include Pfizer, Novartis, Allergan, Coherus BioSciences, Biocon, Amgen, Boehringer Ingelheim, Celltrion, BioXpress Therapeutics, and Intas Pharmaceuticals Limited.
• Companies are strategically focusing on mergers and acquisitions to bolster production capabilities and gain market access.

3. Mergers and Acquisitions

• Aurobindo Pharma Limited’s acquisition of four cell culture-derived biosimilar products from TL Biopharmaceutical AG exemplifies the trend of companies expanding their portfolios.
• AbbVie’s acquisition of Allergan for $63 million in May 2020 showcases the industry’s pursuit of diversification and market leadership in biosimilar monoclonal antibodies.

4. Global Market Segmentation

• By Type:
  • Synthetic Chemicals
  • Biopharmaceuticals
  • Other Types
• By Application:
  • Chronic & Autoimmune Diseases
  • Oncology
  • Other Applications
• By Compound:
  • Infliximab
  • Rituximab
  • Abciximab
  • Trastuzumab
  • Adalimumab
  • Bevacizumab

Regional Landscape

5. North America Leading the Way

• North America emerged as the largest region in the biosimilar monoclonal antibodies market in 2022.
• The region’s prominence can be attributed to a combination of proactive healthcare approaches and a high burden of chronic diseases.

View More On The Biosimilar Monoclonal Antibodies Market Report 2023 – https://www.thebusinessresearchcompany.com/report/biosimilar-monoclonal-antibodie-global-market-report

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The Biosimilar Monoclonal Antibodies Global Market Report 2023  provides a comprehensive overview on the biosimilar monoclonal antibodies market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the biosimilar monoclonal antibodies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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