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What Factors Are Driving the Anticipated Growth Rate of the Biosimilar Monoclonal Antibodies Market Through 2034?

The market for biosimilar monoclonal antibodies has seen a swift expansion in recent years. Its size is projected to increase from $8.04 billion in 2024 to $9.25 billion in 2025, with a compound annual growth rate (CAGR) of 15.1%. The development observed during the historic period can be credited to factors such as the end of patents, enhanced understanding of biosimilars, government policies, escalated investments from drug manufacturing firms, and greater adoption of biosimilars by medical professionals and patients.

A significant expansion is forecasted in the market for biosimilar monoclonal antibodies over the coming years. It is predicted to reach a value of $12.79 billion by 2029, increasing at a compound annual growth rate (CAGR) of 8.5%. The surge in anticipated growth in this period can be associated with mounting biologic expenses, the extension of biosimilar portfolios, personalized biosimilar therapies, and the augmenting interest of the public in biosimilars. Noteworthy trends for the forecast period encompass therapeutic expansion, personalized biosimilars, alliances and partnerships, biosimilar auto-injectors, devices, and biobetters.

What External and Internal Drivers Are Contributing to the Growth of the Biosimilar Monoclonal Antibodies Market’s Growth?

The biosimilar monoclonal antibodies market is predicted to be propelled by the rising incidence of chronic diseases. These antibodies are effectively used in the treatment of chronic illnesses such as cancer, autoimmune diseases, and rheumatoid arthritis. In the realm of cancer therapy, monoclonal antibody biosimilars like trastuzumab, bevacizumab, and rituximab are commonly used. Additionally, the rate of cancer cases is escalating with each passing year. For instance, reports from the Centers for Disease Control and Prevention (CDC), a public health agency based in the US, revealed in February 2024 that increasing numbers of Americans are living with multiple chronic conditions – 42% carry two or more conditions, and 12% are diagnosed with five or more. Hence, the rise in chronic disease prevalence is projected to fuel the expansion of the biosimilar monoclonal antibodies market.

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Who Are the Major Industry Leaders Accelerating Growth in the Biosimilar Monoclonal Antibodies Market?

Major companies operating in the biosimilar monoclonal antibodies market include Pfizer Inc., Novartis AG, AbbVie Inc., Coherus BioSciences, Biocon Limited, Amgen Inc., Boehringer Ingelheim International GmbH, Celltrion Inc., BioXpress Therapeutics SA, Intas Pharmaceuticals Limited, Genor BioPharma Co. Ltd., BIOCAD, Dr. Reddy’s Laboratories Ltd., 3SBio Inc., Reliance Life Sciences, Hisun Pharmaceuticals, Celgen Biopharmaceuticals, Torrent Pharmaceuticals Ltd., Cadila Healthcare Ltd., Shanghai Henlius Biotech Inc., Teva Pharmaceutical Industries Ltd., Alvotech, Xentria Inc., Lazuline Biotech Private Limited, Epygen Biotech Pvt Ltd., Mabpharm Limited, Qilu Pharmaceutical Co. Ltd., Chiatai Tianqing Pharmaceutical Group Co. Ltd., YL Biologics Ltd., Aprogen Biologics, UNDBIO Co Ltd., Samsung Bioepis Co. Ltd., ISU Abxis Corp., Bio-Rad Laboratories Inc.

Which Upcoming Trends Are Set to Influence the Biosimilar Monoclonal Antibodies Market’s Path Forward?

Leading organizations in the biosimilar monoclonal antibodies industry are concentrating their efforts on creating cost-effective biosimilar therapies to stand out from the competition. These therapies are biological medical substances that share a high degree of similarity with previously approved reference monoclonal antibodies. Their purpose is to provide cost-conscious treatment alternatives for a range of diseases, including cancer and autoimmune diseases. For example, in 2022, Pfizer, a pharmaceutical firm based in the U.S., introduced Abrilada, a biosimilar of AbbVie’s Humira (adalimumab). Abrilada’s effectiveness and safety profile are akin to the original, yet it offers substantial cost benefits for patients and healthcare systems. Moreover, it takes advantage of a more efficient approval process and strong manufacturing capabilities, improving patient access to necessary treatments. This trend signifies a wider industry move towards tackling escalating healthcare expenses without compromising the quality of patient treatment options.

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Which Key Segments Define the Structure of the Biosimilar Monoclonal Antibodies Market and Their Growth Potential?

The biosimilar monoclonal antibodies market covered in this report is segmented –

1) By Type: Synthetic Chemicals, Biopharmaceuticals, Other Types

2) By Compound: Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab

3) By Application: Chronic & Autoimmune Diseases, Oncology, Other Applications

Subsegments:

1) By Synthetic Chemicals: Small Molecule Drugs, Chemical Synthesis Products

2) By Biopharmaceuticals: Monoclonal Antibodies, Recombinant Proteins, Vaccines, Other Biopharmaceuticals

3) By Other Types: Antibody-Drug Conjugates, Fusion Proteins, Biosimilars Of Other Biologics

Which Regions Are Key Players in the Growth of the Biosimilar Monoclonal Antibodies Market?

The countries covered in the biosimilar monoclonal antibodies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

What Key Elements Shape the Definition of the Biosimilar Monoclonal Antibodies Market?

Biosimilar monoclonal antibodies refer to a member of the family of biosimilars. Large, intricate proteins are typically given as part of the treatment for conditions like cancer or rheumatoid arthritis. They are employed by the immune system to recognize and destroy foreign substances, including bacteria, viruses, and others.

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