The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Biosimilar Monoclonal Antibodies Global Market Report 2024, the biosimilar monoclonal antibodies market is expected to show significant growth in the forecast period.

The biosimilar monoclonal antibodies market has experienced remarkable growth in recent years, indicative of the increasing demand for advanced therapeutic options. Let’s dissect the driving forces behind this growth and what the future holds for this dynamic sector.

Current Landscape and Growth Dynamics

• The biosimilar monoclonal antibodies market has surged from $8.04 billion in 2023 to $9.25 billion in 2024, boasting a compound annual growth rate (CAGR) of 15.1%.
• This growth spurt can be attributed to patent expirations, heightened awareness of biosimilars, government initiatives, increased investment from pharmaceutical companies, and the growing acceptance of biosimilars among clinicians and patients.

Forecasts and Future Trends

• The market is poised for further expansion, projected to reach $12.79 billion by 2028, with a compound annual growth rate (CAGR) of 8.5%.
• Factors driving growth in the forecast period include rising biologic expenditure, expansion of biosimilar portfolios, personalization of biosimilar therapy, and heightened public interest in biosimilars.
• Major trends on the horizon encompass therapeutic expansion, personalized biosimilars, collaborations and partnerships, biosimilar autoinjectors and devices, and the emergence of biobetters.

Rising Prevalence of Chronic Diseases Fuels Growth in the Biosimilar Monoclonal Antibodies Market

• The prevalence of chronic diseases, including cancer, autoimmune diseases, and rheumatoid arthritis, is expected to be a key driver of the biosimilar monoclonal antibodies market.
• Biosimilar monoclonal antibodies play a pivotal role in treating chronic diseases, with notable examples including trastuzumab, bevacizumab, and rituximab in cancer treatment.
• The incidence of cancer is on the rise, contributing to the escalating demand for effective therapeutic interventions, thereby driving market growth.

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Enzene Biosciences Launches Cetuximab Biosimilar for Cancer Therapy

• Major players in the biosimilar monoclonal antibody market are focusing on developing biosimilar versions of therapeutic chimeric monoclonal antibodies to broaden treatment options and offer cost-effective alternatives for various conditions.
• Enzene Biosciences Ltd. introduced Cetuximab, a biosimilar of the cancer drug Erbitux, in May 2021, aimed at treating metastatic colorectal cancer and head and neck cancer.
• The use of a Chinese Hamster Ovary (CHO) cell line in manufacturing Cetuximab has resulted in more human-like glycosylation patterns, potentially reducing adverse effects.

Biocon Biologics Ltd. Acquires Viatris Inc.’s Biosimilars Business to Strengthen Global Presence

• In November 2022, Biocon Biologics Ltd. expanded its footprint in the biosimilars market by acquiring Viatris Inc.’s biosimilars business, enhancing its global reach and commercial capabilities.
• This strategic acquisition enables Biocon Biologics to leverage Viatris Inc.’s commercial infrastructure and research and development expertise to cater to diverse market segments.
• Viatris Inc., a prominent player in the pharmaceutical industry, develops, licenses, manufactures, and distributes generic and branded medicines.

Segmentation and Regional Insights

• The biosimilar monoclonal antibodies market is segmented by type, compound, and application, reflecting its multifaceted nature and diverse therapeutic applications.
• North America emerged as the largest region in the biosimilar monoclonal antibodies market in 2023, signaling the region’s prominence in this sector.

Conclusion: Navigating the Promising Trajectory
The biosimilar monoclonal antibodies market presents an exciting landscape characterized by innovation, collaboration, and expanding treatment options. As stakeholders continue to invest in research and development and forge strategic partnerships, the journey toward addressing chronic diseases and improving patient outcomes is poised to achieve new milestones in the years ahead.

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