Bevacizumab Biosimilars Growth Forecast 2025-2034: Trends, Opportunities, and Key Insights You Need to Know
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What is the Predicted CAGR for the Bevacizumab Biosimilars Market Over the Forecast Period of 2025 to 2034?
The market for bevacizumab biosimilars has seen robust growth in the recent past. It’s projected to escalate from $1.53 billion in 2024 to $1.66 billion in 2025, marking a compound annual growth rate (CAGR) of 8.2%. This upturn during the historic period can be ascribed to factors such as patent expiration, healthcare cost containment, a rise in cancer cases, competitive market scenario, patient accessibility and affordability, and acceptance of biosimilars.
The market for bevacizumab biosimilars is anticipated to exhibit substantial growth in the coming years, escalating to $2.27 billion by 2029 with a compound annual growth rate (CAGR) of 8.1%. This projected growth for the forecasted period can be traced back to the increasing demand for cancer treatments, expertise in biosimilar development, strains on the healthcare system, and the regulatory landscape for biosimilars, along with biosimilar interchangeability. The major trends to be observed during this period are alliances and partnerships, regulatory progress and approvals, advances and innovations in biosimilar development, strategies for market access, and management of the biosimilar lifecycle.
What Industry-Specific Factors Are Fueling the Growth of the bevacizumab biosimilars Market?
An increasing occurrence of cancer is predicted to drive the growth of the bevacizumab biosimilar market. The term cancer incidence is used to describe the amount of new cancer cases within a certain time frame in a particular population. Bevacizumab is a biosimilar that stops tumor angiogenesis, resulting in potential tumor shrinkage and inhibition of growth. It is equivalent to reference biologics in its effectiveness and safety when treating individuals with advanced non-small cell lung cancer or metastatic colorectal cancer. For instance, the UK’s National Health Service (NHS) observed 346,217 fresh cancer cases in 2022, which equates to an average of 948 instances per day. This is an increase of 5% compared to 329,664 diagnoses made in 2021. There was also a 7% increase in cancer diagnoses between 167,917 and 180,877 in 2022. As such, the escalating number of cancer cases is a primary driver of the bevacizumab biosimilars market.
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Who Are the Top Companies Driving Innovation and Growth in the Bevacizumab Biosimilars Market?
Major companies operating in the bevacizumab biosimilars market include:
• Cipla Limited_x000D_
• Reliance lifesciences Pvt. Ltd._x000D_
• Fujifilm Kyowa Kirin Biologics Co. Ltd._x000D_
• Pfizer Inc._x000D_
• F. Hoffmann-La Roche Ltd._x000D_
What Key Trends Are Currently Impacting the Bevacizumab Biosimilars Market’s Development?
In the bevacizumab biosimilars market, product innovation is an increasing trend being utilized by top competitors to solidify their market standing. Leading companies are focusing on the development of new and improved products. For instance, Viatris and Biocon Biologics, both US-based pharmaceutical firms, introduced a biosimilar named Abevmy (bevacizumab) in May 2022. This product, which is similar to Roche’s Avastin (bevacizumab), has obtained clearance from Health Canada and can be used in four different oncology indications. Furthermore, the biosimilar provides the same efficacy, safety, and quality as the reference biologic. It is a manufactured humanized monoclonal antibody (MA) that inhibits the biological activity of the human vascular endothelial growth factor (VEGF).
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Which Key Segments of the Bevacizumab Biosimilars Market Are Poised for Growth and Innovation?
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
Which Geographical Regions Are Pioneering Growth 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.
What Are the Defining Aspects of the Bevacizumab Biosimilars Market Landscape?
Bevacizumab biosimilars are a type of medication that is highly similar to a reference biologic drug called bevacizumab. It is commonly used to inhibit the growth of new blood vessels in tumors, thereby slowing down their progression.
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