DUBLIN, December 09, 2021--(BUSINESS WIRE)--The "Biosimilar Monoclonal Antibodies Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar monoclonal antibodies market is expected to grow from $3.52 billion in 2020 to $4.33 billion in 2021 at a compound annual growth rate (CAGR) of 23%. The market is expected to reach $10.92 billion in 2025 at a CAGR of 26%.
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.
The biosimilar monoclonal antibodies market consists of sales of biosimilar monoclonal antibodies and related services by entities (organizations, sole traders and partnerships) that produce biosimilar monoclonal antibodies, which are used to treat patients with chronic diseases such as cancer, rheumatoid arthritis, and autoimmune disease.
Biosimilar monoclonal antibodies are highly similar to actual monoclonal antibodies in terms of pharmaceutical quality, safety, and efficacy, and are used to boost immunity by identifying and neutralizing foreign bodies. The market consists of revenue generated by the biosimilar monoclonal antibodies companies by the sales of these products.
The biosimilar monoclonal antibodies market covered in this report is segmented by type into synthetic chemicals, biopharmaceuticals, others and by application into chronic & autoimmune diseases, oncology, others.
Stringent regulations imposed on approvals of biosimilars is anticipated to hinder the growth of the biosimilar monoclonal antibodies market. The governments of different regions impose different rules regarding the production and use of biosimilars. Further, issues such as patent infringement or agreement issues restrict the manufacturers of biosimilars from commercializing the government-approved biosimilars.
The US Food and Drug Administration requires a double regulatory approval for biosimilars, restricting the use of biosimilars as an interchangeable drug to biologics, whereas, in Europe, the European Medicines Agency (EMA) approves biosimilars as interchangeable products for biologics.
In February 2019, out of the total 17 approved biosimilars, only 7 biosimilars including 4 originating biologics could enter the US commercial market. The strict government policies for approval of these drugs negatively impact manufacturers in the biosimilar monoclonal antibodies market.
In May 2020, AbbVie, a US-based biopharmaceutical company, has acquired Allergan for an amount of $63 million. This transaction expands and diversifies AbbVie's revenue base and supports in maintaining its leadership positions 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 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 disease, 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. Therefore, the prevalence of chronic diseases including cancer is expected to drive the biosimilar monoclonal antibodies market.
The focus areas for many companies in the biosimilar monoclonal antibodies market has shifted to mergers and acquisitions to acquire more production capabilities. Large prime manufactures are forming joint ventures or buying small or midsized companies to acquire new capabilities, or to gain access to new markets.
Key Topics Covered:
1. Executive Summary
2. Biosimilar Monoclonal Antibodies Market Characteristics
3. Biosimilar Monoclonal Antibodies Market Trends and Strategies
4. Impact Of COVID-19 On Biosimilar Monoclonal Antibodies
5. Biosimilar Monoclonal Antibodies Market Size and Growth
5.1. Global Biosimilar Monoclonal Antibodies Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Biosimilar Monoclonal Antibodies Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Biosimilar Monoclonal Antibodies Market Segmentation
6.1. Global Biosimilar Monoclonal Antibodies Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Biosimilar Monoclonal Antibodies Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Chronic & Autoimmune Diseases
6.3. Global Biosimilar Monoclonal Antibodies Market, Segmentation by Compound, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Biosimilar Monoclonal Antibodies Market Regional and Country Analysis
7.1. Global Biosimilar Monoclonal Antibodies Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Biosimilar Monoclonal Antibodies Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Intas Pharmaceuticals Limited
Genor BioPharma Co. Ltd
Dr. Reddys Laboratories Ltd
Reliance Life Sciences
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