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InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled “Global Biosimilar Monoclonal Antibodies Market by (Product (infliximab, trastuzumab, rituximab, adalimumab, bevacizumab, cetuximab, ranibizumab, denosumab, eculizumab, and other pipeline products), Indication (oncology, inflammatory & autoimmune disorders, chronic diseases, blood disorders, and other indications)) – Market Outlook and Industry Analysis 2030” According to company’s newest research, the global Biosimilar Monoclonal Antibodies Market is worth US$ 4.98 Billion in 2021 and is predicted to reach US$ 36.85 Billion in 2030, with a promising CAGR of 25% between 2022 and 2030.
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The development of high, effective biosimilars enables expanding access to specific medications. Biosimilar monoclonal antibodies (mAbs) are a new class of biologic drugs that are predicted to disrupt the pharmaceutical industry by offering comparable products in terms of efficacy, safety, and quality while potentially offering significant cost reductions. Monoclonal antibodies have positioned themselves as a significant product category of biotechnology-derived therapeutic products. They are structurally complicated, and, depending on the isotype, they may contain multiple functional domains inside a single molecule, including antigen-binding region, complement-binding region, and constant part interacting with Fc receptors. In oncology, presently, monoclonal antibody biosimilars are gaining dominance. Additionally, various licensed monoclonal antibodies in oncology, such as checkpoint inhibitors like nivolumab or pembrolizumab, are projected to witness significant growth in the future years.
Monoclonal antibodies are often large, complicated proteins. They are substantially more expensive than other drugs since they are created in a complex biotechnological process in living genetically modified bacteria or cells. Infliximab, rituximab, abciximab, trastuzumab, adalimumab, and bevacizumab are some of the different substances employed in numerous applications such as chronic and autoimmune disorders, oncology, and others.
Over the projection period, the incidence of chronic diseases, the development of improved mAbs, and the expansion of health care infrastructure are likely to positively impact the market growth. Growing interest among pharmaceutical companies to produce biosimilars has resulted from the patent expirations of monoclonal antibodies, which is expected to propel the market throughout the forecast period. However, the market for biosimilar monoclonal antibodies is expected to be hampered by the strict rules imposed on biosimilar approvals.
North America has the highest revenue share. Increased investment in pharmaceutical research and medication development, rising prevalence of chronic diseases such as cancer, and a rise in product approvals are all contributing to the expansion. For instance, in Feb 2022, The US Food and Drug Administration (FDA) granted an emergency use authorization (EUA) for a novel monoclonal antibody for the treatment of COVID-19 that also works against the omicron variant. The EUA for bebtelovimab is for the treatment of mild to moderate COVID-19 in adults and pediatric patients who have a positive COVID-19 test and are at high risk of developing severe COVID-19, which could result in hospitalization or death.
Due to the increasing demand for cost-effective treatments, the rising prevalence of chronic diseases, and increased government investment in expanding healthcare facilities, the Asia Pacific area is anticipated to rise significantly throughout the projection period (2020-2030).
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The following key companies are engaged in the Biosimilar Monoclonal Antibodies market:
Pfizer (US), Novartis (Switzerland), Allergan (Ireland), Coherus BioSciences (US), Biocon (Bengaluru), Amgen (US), Boehringer Ingelheim (Germany), Celltrion (South Korea), BioXpress Therapeutics (Switzerland), Intas Pharmaceuticals Limited (Gujarat), Genor BioPharma Co. Ltd (China), BIOCAD (Russia) among others.
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