The Business Research Company's Global Biosimilar Monoclonal Antibodies Market Size, Share And Growth Analysis For 2024-2033

LONDON, GREATER LONDON, UK, August 7, 2024 /EINPresswire.com/ -- The biosimilar monoclonal antibodies market has experienced robust growth in recent years, expanding from $8.04 billion in 2023 to $9.25 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to patent expirations, growing awareness of biosimilars, government initiatives, increasing investment from pharmaceutical companies, and growing acceptance of biosimilars by clinicians and patients.

Strong Future Growth Anticipated
The biosimilar monoclonal antibodies market is projected to continue its strong growth, reaching $12.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to rising biologic expenditure, biosimilar portfolio expansion, personalization of biosimilar therapy, and increasing public interest in biosimilars.

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Growth Driver Of The Biosimilar Monoclonal Antibodies Market
The prevalence of chronic diseases is expected to drive the biosimilar monoclonal antibodies market. Biosimilar monoclonal antibodies are used to treat chronic diseases such as cancer, autoimmune diseases, and rheumatoid arthritis. In cancer treatment, biosimilars of monoclonal antibodies such as trastuzumab, bevacizumab, and rituximab are used. Moreover, the incidence of cancer is increasing year by year.

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Major Players And Market Trends
Key players in the biosimilar monoclonal antibodies market include Pfizer Inc., Novartis AG, AbbVie Inc., Coherus BioSciences, Biocon Limited, Amgen Inc., Boehringer Ingelheim International GmbH.
Major companies in the biosimilar monoclonal antibody market are developing biosimilar versions of therapeutic chimeric monoclonal antibodies to expand treatment options and offer cost-effective alternatives for conditions like cancer and autoimmune diseases. Cetuximab is a chimeric monoclonal antibody used as a targeted therapy for metastatic colorectal cancer (mCRC) and head and neck cancer.

Segments:
1) By Type: Synthetic Chemicals, Biopharmaceuticals, Other Types
2) By Compound: Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab
3) By Application: Chronic and Autoimmune Diseases, Oncology, Other Applications

Geographical Insights: North America Leading The Market
North America was the largest region in the biosimilar monoclonal antibodies market in 2023. The regions covered in the biosimilar monoclonal antibodies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Biosimilar Monoclonal Antibodies Market Definition
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 recognize and destroy foreign substances, including bacteria, viruses, and others.

Biosimilar Monoclonal Antibodies Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Biosimilar Monoclonal Antibodies Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biosimilar monoclonal antibodies market size, biosimilar monoclonal antibodies market drivers and trends, biosimilar monoclonal antibodies market major players, biosimilar monoclonal antibodies competitors' revenues, biosimilar monoclonal antibodies market positioning, and biosimilar monoclonal antibodies market growth across geographies. The biosimilar monoclonal antibodies market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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