Bevacizumab Biosimilars Global Market Report 2023

Major players in the bevacizumab biosimilars market are Hetero Drugs Ltd., Amgen Inc., Biocon Ltd., Mylan Inc., BioXpress Therapeutics SA, Celltrion Inc., Teva Pharmaceutical Industries Ltd., Pfizer Inc.

New York, NY (GLOBE NEWSWIRE) - Reportlinker.com announces the release of the report "Bevacizumab Biosimilars Global Market Report 2023" -  https://www.reportlinker.com/p06486628/?utm_source=GNW, Samsung Bioepis Co. Ltd., mAbxience SA, Aurobindo Pharma Ltd., Abbvie Inc., Allergan Plc., Reliance lifesciences Pvt. Ltd., Beaconpharma Ltd., Celgene Corporation Co. Ltd., Fujifilm Kyowa Kirin Biologics Co. Ltd., F. Hoffmann-La Roche Ltd., and Genentech Inc.

The global bevacizumab biosimilars market is expected to grow from $1.31 billion in 2022 to $1.43 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bevacizumab biosimilars market is expected to reach $1.93 billion in 2027 at a CAGR of 7.9%.

The bevacizumab biosimilars market consists of sales of byvasda, cizumab, alymsys, bevax, and cyramza.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Bevacizumab biosimilars are a type of medication that is highly similar to a reference biologic drug called bevacizumab. It is commonly used to inhibit the growth of new blood vessels in tumors, thereby slowing down their progression.

North America was the largest region in the bevacizumab biosimilars market in 2022. The regions covered in bevacizumab biosimilars report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of bevacizumab biosimilar products are avastin, mvasi, zirabev, aybintio, and others.Avastin is the brand name for the original biological drug bevacizumab, referring to an anti-angiogenic therapy that inhibits the formation of new blood vessels.

They are available in various distribution channels, such as hospital pharmacies, online pharmacies, retail pharmacies, and others. They are used for various applications such as colorectal cancer, non-small cell lung cancer, glioblastoma, renal cell carcinoma, cervical cancer, and ovarian cancer.

The rising prevalence of cancer cases is expected to propel the growth of the bevacizumab biosimilars market going forward.Cancer incidence refers to the number of new cancer cases in a specific population for a given period.

Bevacizumab is a biologic that inhibits tumor angiogenesis, which can lead to tumor shrinkage and growth inhibition, and it is comparable to reference biologics in terms of efficacy and safety in treating patients with advanced non-small cell lung cancer or metastatic colorectal cancer. For instance, in 2021, According to the American cancer society, 1.8 million new cancer cases were diagnosed in 2020. Furthermore, according to September 2020 data published by the National Cancer Institute, a US-based government agency part of the National Institutes of Health, 1,806,590 new cancer cases were recorded, indicating that 43% of all cancer diagnosed in men in the United States in 2020, up from 1,752,735 in the previous year, i.e., 2019. Therefore, the rising prevalence of cancer cases drives the bevacizumab biosimilars market.

Product innovation has emerged as a key trend gaining popularity in the bevacizumab biosimilars market.Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market.

For instance, in May 2022, Viatris, a US-based pharmaceutical company, and Biocon Biologics, a US-based pharmaceutical company, launched a biosimilar called Abevmy® (bevacizumab), which is a biosimilar similar to Roche’s Avastin® (bevacizumab).Abevmy has received approval from Health Canada for use across four oncology indications.

The product offers efficacy, safety, and quality similar to the reference biologic, as it is a synthesized humanized monoclonal antibody (MA) that binds to and neutralizes the biologic action of human vascular endothelial growth factor (VEGF).

In November 2022, Biocon Biologics Ltd., an India-based firm and subsidiary of Biocon Ltd., that manufactures biopharmaceuticals acquired Viatris Inc.’s global biosimilars business for an undisclosed amount. With this acquisition, Biocon Biologics aims to further strengthen its position in the biosimilars market. Viatris Inc. is a US-based pharmaceutical and healthcare company that deals in medicines for major therapeutic areas including cancer, including Bevacizumab.

The countries covered in the bevacizumab biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The bevacizumab biosimilar market research report is one of a series of new reports that provides bevacizumab biosimilar market statistics, including bevacizumab biosimilar industry global market size, regional shares, competitors with a bevacizumab biosimilar market share, detailed bevacizumab biosimilar market segments, market trends, and opportunities, and any further data you may need to thrive in the bevacizumab biosimilar industry. This bevacizumab biosimilar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. Read the full report: https://www.reportlinker.com/p06486628/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.