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The global bevacizumab biosimilars market is on a trajectory of growth, with expectations to increase from $1.31 billion in 2022 to $1.43 billion in 2023, boasting a Compound Annual Growth Rate (CAGR) of 9%. Looking ahead, the forecast envisions a market size of $1.93 billion in 2027, sustaining a substantial CAGR of 7.9%. What fuels this ascent? The rising prevalence of cancer cases takes center stage, steering the expansion of the bevacizumab biosimilars market.

Driving Force: Rising Cancer Prevalence

• Biological Defense: Bevacizumab, a key player in the biosimilars market, functions as a biologic inhibiting tumor angiogenesis. This inhibition can lead to tumor shrinkage and growth inhibition. Its efficacy and safety are comparable to reference biologics, making it a pivotal component in treating advanced non-small cell lung cancer or metastatic colorectal cancer.
• Cancer Incidence: The American Cancer Society reported 1.8 million new cancer cases in 2020. Data from the National Cancer Institute in September 2020 revealed 1,806,590 new cancer cases, highlighting a 43% incidence in men in the United States in 2020. This surge in cancer cases from the previous year emphasizes the escalating prevalence of cancer.

Trailblazers in the Market

Major players are at the forefront of shaping the bevacizumab biosimilars market, steering its course and contributing to its growth.

• Major Players: Hetero Drugs Ltd., Amgen Inc., Biocon Ltd., Mylan Inc., BioXpress Therapeutics SA, Celltrion Inc., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Samsung Bioepis Co. Ltd., mAbxience SA, Aurobindo Pharma Ltd., Abbvie Inc., Allergan Plc., Reliance lifesciences Pvt. Ltd., Beaconpharma Ltd., Celgene Corporation Co. Ltd., Fujifilm Kyowa Kirin Biologics Co. Ltd., F. Hoffmann-La Roche Ltd., and Genentech Inc.

Nurturing Innovation

Innovation stands tall as a key trend permeating the bevacizumab biosimilars market. Market players are strategically focusing on the development of innovative products to fortify their standing in the industry.

• Abevmy® Launch: In May 2022, Viatris and Biocon Biologics joined forces to introduce Abevmy® (bevacizumab), a biosimilar akin to Roche’s Avastin® (bevacizumab). This biosimilar gained approval from Health Canada for use across four oncology indications. Offering efficacy, safety, and quality parallel to the reference biologic, Abevmy® is a humanized monoclonal antibody synthesized to bind to and neutralize the biologic action of human vascular endothelial growth factor (VEGF).

Market Dynamics: A Comprehensive View

• By Product: Avastin, Mvasi, Zirabev, Aybintio, Other Products
• By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, Other Distribution Channels
• By Application: Colorectal Cancer, Non-small Cell Lung Cancer, Glioblastoma, Renal Cell Carcinoma, Cervical Cancer, Ovarian Cancer

Regional Spotlight

• North America Leading: As of 2022, North America takes the lead in the global bevacizumab biosimilars market. However, looking ahead, other regions are poised for significant growth, reshaping the global landscape.

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