Biosimilar Monoclonal Antibodies (mAbs) Market Size Worth $ 11.92 Billion, Globally, By 2028 15.05% CAGR: Verified Market Research®
JERSEY CITY, NJ, October 5, 2021 / PRNewswire / – Verified Market Research recently published a report, “Biosimilar Monoclonal Antibodies (mAbs) Market“By product (erythropoietin (EPO), human growth hormone (HGH), granulocyte colony stimulating factor (G-CSF)), by application (anti-cancer and anti-inflammatory / autoimmune) and by geography. According to Verified Market Research, the global Biosimilar Monoclonal Antibodies (mAbs) market size has been estimated to be $ 3.52 billion in 2020 and should reach $ 11.92 billion by 2028, with a CAGR of 15.05% from 2021 to 2028.
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Global Biosimilar Monoclonal Antibodies (mAbs) Market Overview
The Biosimilar Monoclonal Antibodies market includes the sales of biosimilar monoclonal antibodies and related services by entities (such as organizations, independent marketers, and partnerships) that supply biosimilar monoclonal antibodies, which are practiced to treat patients with chronic diseases such as rheumatoid arthritis, cancer and autoimmune disease. Biosimilar monoclonal antibodies are extremely similar to real monoclonal antibodies in terms of safety, pharmaceutical grade, and efficacy, and are used to promote immunity by identifying and neutralizing foreign bodies.
The percentage of cancer is increasing year by year. According to the American Cancer Society (ACS), in 2020, approximately 1.8 million new cancer cases are expected in United States. Therefore, the predominance of chronic diseases including cancer is believed to promote the biosimilar monoclonal antibody market.
In addition, the introduction of advanced mAbs is also expected to boost the global biosimilar monoclonal antibody market. In addition, there is an increase in the geriatric population around the world. In 2019, there were approximately 703 million people aged 65 or older worldwide. The number of elderly people is expected to reach 1.5 billion by 2050. Globally, the share of the population aged 65 and over has increased from 6% in 1990 to 9% in 2019. As a result, there has been an increase in the number of elderly people. prevalence of diseases, such as cancer and rheumatoid arthritis, which is driving the market growth. However, strict government regulations regarding the absence of preanalytical testing are hampering this growth.
- In April 2021, Biocon Biologics Ltd, a fully integrated pure play biosimilars company and a subsidiary of Biocon Ltd, announced that it had received the Facility of the Year 2021 (FOYA) award from the International Society for Pharmaceutical Engineering (ISPE). The company received an honorable mention for its monoclonal antibody drug manufacturing plant located in Biocon Park.
- In May 2021, FDA clears additional monoclonal antibody for treatment of COVID-19.
The main key players in the market are Biocon, Celltrion, Dr. Reddy’s Laboratories, Hospira, 3SBio, Accord Healthcare, AET Biotech, Allergan, Amega Biotech.
Verified market research segmented the global Biosimilar Monoclonal Antibody (mAb) market on the basis of product, application, and geography.
- Biosimilar Monoclonal Antibodies (mAbs) Market, By Product
- Erythropoietin (EPO)
- Human growth hormone (HGH)
- Granulocyte colony stimulating factor (G-CSF)
- Monoclonal antibody (mAb)
- Interferon (IFN)
- Biosimilar Monoclonal Antibodies (mAbs) Market, By Application
- Anti-inflammatory / autoimmune
- Biosimilar Monoclonal Antibodies (mAbs) Market By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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