The Bevacizumab Biosimilar Market is expected to grow at an 18.40 % CAGR during the forecast period for 2023-2031.
Bevacizumab is a recombinant humanized monoclonal antibody that neutralizes vascular endothelial growth factor A (VEGF-A) biologic activity (an essential endothelial cell mitogen and survival factor). It is the first anti-angiogenic therapy approved for the treatment of human cancer. The drug was developed by F. Hoffmann-La Roche AG and approved by US FDA in February 2004 as first-line therapy in combination with intravenous 5-fluorouracil-based chemotherapy for the treatment of metastatic colorectal cancer. Bevacizumab is approved for the treatment of patients with cervical, epithelial ovarian, and fallopian tube cancer in the United States and Europe. Bevacizumab is also approved for the treatment of patients with non-small-cell lung cancer and metastatic renal cell carcinoma. Also, it is indicated for the treatment of patients with glioblastoma in the United States and use in metastatic breast cancer in Europe. Bevacizumab is approved by European Medicines Agency in 2005 and marketed under the trade name Avastin.
Biosimilar is defined as a type of biological product that is approved by respective regulatory bodies because of its clinical similarity to already approved biological products. Due to the high cost of the biologics, significant companies are focused on the development of biosimilar to fulfill the need of low-income patients as well as expand their coverage. Patent of avastin will expire in Europe in 2022, and in the U.S., the patent will expire in 2019. Thus many biosimilar of bevacizumab is in development phase and are expected to come into the market in the forecast period. Introduction to biosimilars, increase in incidence and prevalence rate of various cancer, rising demand for targeted therapy, and price cuts have boosted the growth of bevcizumab biosimilar market. However, the stringent regulatory process for the approval of bevacizumab biosimilar, intense competition, and disappointing pipeline results are the major restraining factors for the growth of the bevacizumab biosimilar market.
Market Segmentation
Based on application, the global bevacizumab biosimilar market is segmented in colorectal cancer, non-small cell lung cancer, glioblastoma, renal cell carcinoma, cervical cancer, and ovarian cancer. Non-Small Cell Lung Cancer and Colorectal Cancer segment is expected to grow at higher pace during the forecast period owing to increasing incidence and prevalence rate. Based on distribution channel the global bevacizumab biosimilar market is segmented as hospital pharmacy, online pharmacy and others. Hospital pharmacy segment is expected to grow during forecast period due to increase in number of hospital visit and hospital stays.
At regional level, the global bevacizumab biosimilar market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In terms of revenue, North America followed by Europe is major contributor for the global bevacizumanb biosimilar market. This is because strong clinical pipeline, increasing research and drug development activities, presence of major players, and presence of developed healthcare infrastructure propels the growth of the market in the region. Asia Pacific is third promising revenue contributor which is expected to grow at rapid pace in upcoming year. Countries such as Japan, India and China are major contributors for this market. Early availability of biosimilar and emerging and huge population base countries such as China and India offers tremendous market opportunities for the bevacizumab biosimilar market.
Competitive Landscape
Some of The Key Players in The Bevacizumab Biosimilar Market:
- Amgen
- AryoGen Pharmed
- Biothera
- Boehringer Ingelheim
- Centus Biotherapeutics
- Henlius Biotech
- Innovent Biologics
- Mylan
- mAbxience
- Outlook Therapeutics
- Pfizer
- Prestige Biopharma
- Roche
- Samsung Bio
- TOT Biopharm
- Other Prominent Players
The Bevacizumab Biosimilar Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 18.40 % from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, By Application, By Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Amgen, AryoGen Pharmed, Biothera, Boehringer Ingelheim, Centus Biotherapeutics, Henlius Biotech, Innovent Biologics, Mylan, mAbxience, Outlook Therapeutics, Pfizer, Prestige Biopharma, Roche, Samsung Bio, TOT Biopharm, and others |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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