Biosimilar Monoclonal Antibodies Market Expected To Generate A CAGR of 35.7% By 2026
The global biosimilar monoclonal antibodies market is projected to reach a value of over US$ 32,000.0 Mn in 2026 at a CAGR of 35.7% over the forecast period. Monoclonal antibodies (mAb) are antibodies produced by using identical immune cells that are clones of one unique parent cell. Since monoclonal antibodies are produced from clones of only one parent cell, all monoclonal antibodies produced by the parent cell are the same due to which, they are called biosimilar monoclonal antibodies. A monovalent antibody can be antibody with affinity that can bind the same epitope, antigen, or strain of microorganism that is recognized by the antibody.
A monoclonal antibody is a laboratory-made protein that can bind to substances in the body such as cancer cells. It is made in such a way that it binds to only one substance to treat a specific type of cancer. Different monoclonal antibodies are required to be made to target different types of cancers as each monoclonal antibody recognizes their respective protein and work in different ways, depending on the protein they are targeting.
Rising prevalence of chronic diseases such as cancers, rising incidence of patient expiration for several biologics, improvised products, and expanding healthcare infrastructure are key factors driving growth of the global biosimilar monoclonal antibodies market. Other factors include rising adoption rate and demand for cost-effective diagnosis and treatments, collaboration and mergers between global and local players are expected to result is significant for this market. However, stringent government regulatory policies for development of biosimilar monoclonal antibodies and unfavorable manufacturing procedures and associated cost structure are restraining growth of the global biosimilar monoclonal antibodies market.
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The global biosimilar monoclonal antibodies market report has been segmented on the basis of drug class, application, and region.
On the basis of drug class segmentation, Adalimumab segment is estimated to account for major revenue share in the global market and is projected to register highest CAGR of around 37.0% over the forecast period. This can be attributed to increasing incidence of chronic psoriasis and Crohn’s disease for which Adalimumab is used as a primary medication. It is commercially available under the trade name Humira. Also, the Adalimumab segment in the global biosimilar monoclonal antibodies market is projected to maintain its dominant revenue contribution in the global market over the forecast period.
Among the application segments, the oncology segment accounted for highest revenue share in the global biosimilar monoclonal antibodies market, and is expected to register highest CAGR of around 38.0% during the forecast period 2017 & 2026. It is further projected to maintain its dominant revenue contribution over the forecast period, owing to increasing use of biosimilar monoclonal antibodies (MAB) in the field of oncology in developed and developing economies.
The market in Asia Pacific is projected to register highest CAGR of around 36.0% over the forecast period, and is expected to be valued around US$ 8,900.0 Mn in 2026. Increasing number of government initiatives for development of healthcare facilities in emerging economies such as China, Japan, and India and increasing adoption of biosimilar products are key factors expected to propel growth of the Asia Pacific market over the forecast period.
Moreover, markets in Latin America and Middle East & Africa are also projected to witness moderate growth over the forecast period due to increasing number of advanced healthcare facilities in the region.
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Companies profiled include Allergan plc, BIOCADBioXpress Therapeutics SA, Biocon, Boehringer Ingelheim GmbH, Celltrion Inc., Coherus BioSciences Inc., Dr. Reddy’s Laboratories Ltd., Genor BioPharma Co. Ltd., Intas Pharmaceuticals Limited, Novartis AG, Pfizer Inc., and Reliance Life Sciences.
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