Global biosimilar monoclonal antibodies market is projected to grow at a CAGR of 23.5% by 2032: Visiongain Reports Ltd
/EIN News/ --
Visiongain has published a new report entitled Biosimilar Monoclonal Antibodies 2022-2032. It includes profiles of Biosimilar Monoclonal Antibodies and Forecasts Market Segment by Type (Synthetic Chemicals, Biopharmaceuticals), Market Segment by Application (Chronic & Autoimmune Diseases, Oncology Diseases, Other Applications), Market Segment by Compound (Infliximab, Rituximab, Abciximab, Trastuzumab, Adalimumab, Bevacizumab) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The global biosimilar monoclonal antibodies market was valued at US$4,087 million in 2021 and is projected to grow at a CAGR of 23.5% during the forecast period 2022-2032.
Biosimilars Companies Must Address R&D Infrastructure Across Emerging Economies
In several emerging economies, research & development infrastructure problems must be resolved by biosimilars companies. Manufacturers may be concerned about intermittent power and refrigeration in remote areas because so many biosimilars necessitate cold storage logistics and storage. It is already common practice in the small-molecule industry to build formulations for new markets using the expertise of regional manufacturers. The complexity of the production process makes this difficult for biologics, however, regional partnerships might have an even greater impact given the more difficulties with immunogenicity & stability with large molecules.
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How Has COVID-19 Had a Significant Impact on the Biosimilar Monoclonal Antibodies Market?
Biopharmaceutical manufacturers are finding it difficult to predict the enormous imbalance between supply and demand brought on by COVID-19. On the supply side, lockdowns around the world had caused disruptions in supply chain operations and production in centers like China, India, and the United States. On the one hand, patients are put off looking for therapy, especially for less practical delivery techniques like infusions, which might result in a decline in patient volume and total demand. Although all producers are attempting to reduce the possibility of supply shortages, biosimilar manufacturers who depend on facilities in Europe and Asia may be particularly vulnerable in terms of supply.
How will this Report Benefit you?
Visiongain’s 479-page report provides 238 tables and 272 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses of the global biosimilar monoclonal antibodies market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Biosimilar Monoclonal Antibodies. Get financial analysis of the overall market and different segments including type, application, compound, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing biosimilar monoclonal antibodies market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Biosimilars: Leading the Way to Cost-Effective Healthcare
Drugs known as "biosimilars" are identical copies of extremely complex biological medicines that work in the same way as the original therapy. The US FDA is approving an increasing number of biosimilars. This promotes competition, which can lower overall healthcare costs, especially when treating diseases like chronic & autoimmune diseases, oncology diseases, and other applications. On 4th May 2022, The US Food and Drug Administration authorized Trastuzumab, a biosimilar drug created by Mylan and Biocon. Trastuzumab (Ogivri) is a biosimilar drug of Roche's popular drug Herceptin, a widely used and acknowledged therapy for the treatment of breast cancer.
mABs Products Will Continue to be a Dominant Therapeutic Modality
In the near future, mABs products will continue to be crucial in the management of numerous disorders. The effect of mAB therapies on efforts to develop COVID-19 vaccine treatments is unknown. Despite the present epidemic, it is projected that worldwide mABs authorization and sales would rise over the next five years. While initially hurting mABs originator revenues, the introduction of biosimilar products is predicted to boost overall access to various antibody product types. As a result, this sector of the biopharmaceutical industry will see a net rise in patients. Manufacturing capacity is always growing to keep up with the increased demand for these commodities.
Where are the Market Opportunities?
Local Firms Can Assist International Biosimilars Companies in Increasing Sales
Local businesses can help multinational biosimilars companies grow their sales by introducing stakeholders, providing some local credibility, and being knowledgeable of local operating environments and patient expectations. This is in addition to the strength of the biosimilars company's worldwide brand. A lot of developing nations are passing local manufacturing regulations that demand that a product be produced (at least partially) domestically. Partnership with local companies could be a flexible and affordable way to do this while also supporting foreign firms in overcoming obstacles like local laws and customs. Numerous recent partnerships (such as Lilly's strategic collaboration with Chinese pharmaceutical company Innovent and South Korean company Hanmi Pharmaceuticals on 27th March 2022) have shown that multinational biosimilars enterprises can profit from and use resident players' R&D capabilities.
Untapped Opportunities Across Emerging Economies
Lack of regulatory oversight and/or adherence, immature distribution networks, subpar healthcare insurance infrastructures, fragmented demand, and producer margin pressure may all be factors limiting the growth of emerging markets. As a result, businesses might need to alter their current sales, advertising, and distribution strategies. Infrastructure and market access are two significant issues that must be resolved. Biosimilars manufacturers will need widespread access to local companies, distributors, and retailers if they want to succeed in untapped and emerging markets of developing countries. To develop evidence-based reimbursement plans, manufacturers will need to work closely with payers and legislators. As purchasing power and the demand for biopharmaceuticals rise, governments and payers in emerging economies face the challenge of limiting healthcare costs.
Competitive Landscape
The major players operating in the biosimilar monoclonal antibodies market are 3SBio Inc., AbbVie Inc. (AbbVie), Amgen Inc., BIOCAD, Biocon Limited, Boehringer Ingelheim, Celltrion Healthcare Co Ltd., Dong-A Socio Holdings, Dr. Reddy’s Laboratories Ltd, Genor Biopharma Holdings Ltd., Intas Pharmaceuticals Ltd., Novartis AG, Pfizer Inc. (Pfizer), Reliance Life Sciences, Torrent Pharmaceuticals Limited. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launches.
Recent Developments
- On 8th March 2022, In Holly Springs, North Carolina, Amgen announced the construction of its newest biomanufacturing facility. By 2025, the facility should be operational, helping to meet the rising demand for Amgen's medications, which are used to treat life-threatening conditions like cancer and heart disease.
- On 28th Feb 2022, Biocon Biologics Ltd., a division of Biocon Ltd., disclosed a binding contract with its business partner Viatris Inc. In order to establish a distinctive, fully integrated, global biosimilars organization, Biocon Biologics Ltd. (BBL) will thus purchase Viatris' biosimilars business. Up to US$3 billion in total consideration will be given to Viatris, consisting of over US$2 billion in cash and US$1 billion in Compulsorily Convertible Preference Shares (CCPS) in BBL.
To find more Visiongain research reports on the Pharma sector, click on the following links:
- Vaccine Sales Market Report
- Top 50 Biosimilar Drug Manufacturers
- Protein Labelling Reagents for Research Use Only (RUO) Market Report
Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: dev.visavadia@visiongain.com
About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: dev.visavadia@visiongain.com
