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 Business Research Company’s biosimilar monoclonal antibodies market report forecasts the biosimilar monoclonal antibodies market size to grow to $11.29 Billion by 2027, with a CAGR (compound annual growth rate) of more than 14%.

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Biosimilar Monoclonal Antibodies Market Size Forecast

The global biosimilar monoclonal antibodies market is expected to grow from $5.47 billion in 2022 to $6.63 billion in 2023 at a compound annual growth rate (CAGR) of 21.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biosimilar monoclonal antibodies market is expected to grow from $11.29 billion in 2027 at a CAGR of 14.3%.

Key Biosimilar Monoclonal Antibodies Market Driver ­– Increase In The Prevalence Of Chronic Diseases

According to the American Cancer Society (ACS), in 2020, about 1.8 million new cancer cases are expected in the United States. Therefore, the prevalence of chronic diseases, including cancer, is expected to drive the biosimilar monoclonal antibodies market.

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Key Biosimilar Monoclonal Antibodies Market Trend – Focusing On Mergers And Acquisitions

The focus areas for many companies in the biosimilar monoclonal antibody market have shifted to mergers and acquisitions to acquire more production capabilities. Large prime manufacturers are forming joint ventures or buying small or midsized companies to acquire new capabilities, or to gain access to new markets. For instance, Aurobindo Pharma Limited acquired four cell culture-derived biosimilar products from TL Biopharmaceutical AG of Switzerland. As part of the agreement, TL will supply all the developmental data for four molecules, and Aurobindo and/or its affiliates will develop, commercialize, and market these products globally. Out of the four biosimilars acquired, three of them are monoclonal antibodies in oncology. In another case, in May 2020, AbbVie, a biopharmaceutical company based in the United States, announced its intention to acquire Allergan for $63 million.This transaction expands and diversifies AbbVie’s revenue base and supports in maintaining its leadership position in biosimilar monoclonal antibodies.

Biosimilar Monoclonal Antibodies Market Segment

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

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

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

Biosimilar Monoclonal Antibodies Market Major Players and Strategies

Major players in the biosimilar monoclonal antibodies market are Pfizer, Novartis, Allergan, Coherus BioSciences, Biocon, Amgen, Boehringer Ingelheim, Celltrion, BioXpress Therapeutics, and Intas Pharmaceuticals Limited.

In May 2020, AbbVie, a US-based biopharmaceutical company, acquired Allergan for an amount of $63 million. This transaction expands and diversifies AbbVie’s revenue base and supports maintaining its leadership position in biosimilar monoclonal antibodies. Allergan is an Ireland-based pharmaceutical company that manufactures, develops, and markets drugs, biosimilars, medical devices, eye care, and others.

The Biosimilar Monoclonal Antibodies Global Market Report 2023 covers regional data on biosimilar monoclonal antibodies market size, biosimilar monoclonal antibodies market trends and drivers, opportunities, strategies, and biosimilar monoclonal antibodies market competitor 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.

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 recognise and destroy foreign substances, including bacteria, viruses, and others.

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