Biosimilar Monoclonal Antibodies (mAbs) Market size worth $ 11.92 Billion, Globally, by 2028 at 15.05% CAGR: Verified Market Research®

JERSEY CITY, N.J., Oct. 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 was valued at USD 3.52 Billion in 2020 and is projected to reach USD 11.92 Billion by 2028, growing at 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 sales of biosimilar monoclonal antibodies and associated services by entities (such as organizations, sole traders, and partnerships) that provide biosimilar monoclonal antibodies, which are practiced to handle patients with chronic diseases such as rheumatoid arthritis, cancer, and autoimmune disease. Biosimilar monoclonal antibodies are extremely similar to actual monoclonal antibodies in terms of safety, pharmaceutical quality, and efficacy, and are employed to promote immunity by identifying and neutralizing foreign bodies.

The percentage of cancer is increasing year over year. As per the American cancer society (ACS), in 2020, approximately 1.8 million new cancer cases are foreseen in the United States. Consequently, the predominance of chronic diseases including cancer is supposed to encourage the biosimilar monoclonal antibodies market.

Further, the introduction of advanced mAbs is also foreseen to drive the global biosimilar monoclonal antibody market. Besides, there is an increase in the geriatric population globally. In 2019, there were approximately 703 million people aged 65 years or over in the world. The number of older persons is predicted to rise to 1.5 billion in 2050. Worldwide, the share of the population aged 65 years or over increased from 6 percent in 1990 to 9 percent in 2019. Owing to this, there has been an increase in the prevalence of diseases, such as cancer and rheumatoid arthritis, which is boosting the market growth. However, stringent government regulations towards the absence of pre-analytical tests hinder this growth.

Key Developments

  • In April 2021, Biocon Biologics Ltd, a fully integrated 'pure play' biosimilars company and a subsidiary of Biocon Ltd, has announced that it has been awarded with the 2021 Facility of the Year Award (FOYA) from the International Society for Pharmaceutical Engineering (ISPE). The company received an Honorable Mention award for its monoclonal antibodies drugs substances manufacturing facility located at Biocon Park.
  • In May 2021, FDA Authorizes Additional Monoclonal Antibody for Treatment of COVID-19.

Key Players

The major key players in the market are Biocon, Celltrion, Dr. Reddy's Laboratories, Hospira, 3SBio, Accord Healthcare, AET Biotech, Allergan, Amega Biotech.

Verified Market Research has segmented the Global Biosimilar Monoclonal Antibodies (mAbs) 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)
      • Insulin
      • Interferon (IFN)
      • Others
  • Biosimilar Monoclonal Antibodies (mAbs) Market, By Application
    • Anti-Cancer
    • Anti-Inflammatory/Autoimmune
  • Biosimilar Monoclonal Antibodies (mAbs) Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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