Exploring Key Insights of the Bevacizumab Biosimilars Market: Growth Prospects, Emerging Trends, and Opportunities
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What fueled the previous growth in the bevacizumab biosimilars market?
In the past few years, the market size for bevacizumab biosimilars has seen considerable growth. The market value will rise from $1.53 billion in 2024 to reach $1.66 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. Factors contributing to growth in the historic period include patent expiry, healthcare cost containment, a rise in cancer incidence, market competitiveness, improved patient accessibility and affordability, and acceptance of biosimilars.
What will be the bevacizumab biosimilars market size in the future?
The size of the social commerce market is projected to undergo accelerated growth in the coming years, with an estimated valuation reaching $1453.4 billion in 2029. This reflects a compound annual growth rate (CAGR) of 13.5%. This anticipated growth during the forecast period can be linked to several factors such as the proliferation of live shopping experiences, growth of social payment methods, development of social commerce platforms, targeted community engagement, as well as sustainability and ethical commerce practices. Key evolving trends for the forecast period are expected to be live commerce and video shopping, implementation of augmented reality (AR) for virtual try-ons, shop-enabled content and social ads, integration of chatbots and artificial intelligence (AI), along with marketing and affiliate initiatives.
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What main drivers are fueling expansion in the bevacizumab biosimilars market?
The increase in cancer incidences is projected to boost the expansion of the bevacizumab biosimilar market. The term cancer incidence denotes the quantity of novel cancer diagnoses in a specific demographic over a certain duration. Bevacizumab, a biologic, impedes tumor angiogenesis, potentially resulting in tumor reduction and inhibited growth. Similarly, it is equal in effectiveness and safety to reference biologics when treating advanced non-small cell lung cancer or metastatic colorectal cancer patients. For example, in October 2024, new cancer diagnoses reported by the UK’s National Health Service (NHS) in 2022 were 346,217, averaging 948 cases daily. This is a rise of 5% against the 329,664 diagnoses in 2021. There was a 7% hike in cancer diagnoses, growing to 180,877 in 2022 from 167,917. Hence, the escalating incidences of cancer are fueling the growth of the bevacizumab biosimilars market.
What key areas define the segmentation of the global bevacizumab biosimilars market?
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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Who are the dominant players expanding their reach 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
How are evolving market trends shaping bevacizumab biosimilars Strategies?
The advent of product innovation is a significant trend that is becoming prominent in the bevacizumab biosimilars industry. The major components of this market are focusing their attention on the creation of ground-breaking products to solidify their spot in the market. For example, in May 2022, the American pharmaceutical firms Viatris and Biocon Biologics introduced a biosimilar named Abevmy (bevacizumab), akin to Roche’s Avastin (bevacizumab). Abevmy has secured approval from Health Canada for application in four cancer-related indications. This product provides efficacy, safety, and quality on par with the reference biologic since it is a synthesized humanized monoclonal antibody (MA) that connects to and neutralizes the biological activity of human vascular endothelial growth factor (VEGF).
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Which regions are emerging as leaders in 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.
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