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Kenneth Research has recently added a report titled Global Biosimilar Monoclonal Antibody Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Biosimilar Monoclonal Antibody Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Biosimilar Monoclonal Antibody Market is valued approximately at USD 27.84 Billion in 2018 and is anticipated to grow with a healthy growth rate of more than 35.70% over the forecast period 2019-2026. Biosimilar monoclonal antibodies can be known as a biological molecule derived by the organisms and living cells. Also, it displays a certain level of variability which can be attributed to the variations in the biological expression systems of the recombinant. In addition, biosimilar monoclonal antibodies are widely used in various fields of diagnostics of diseases such as oncology, autoimmune and in various chronic diseases. The Biosimilar Monoclonal Antibody market to witness prominent growth owing to the incorporation of advanced mAbs (Monoclonal Antibodies). As a result, the demand & adoption for Biosimilar Monoclonal Antibody would increase thereby, making its way for the growth of the market. The growth of the market is primarily driven by the increase in prevalence of diseases, such as cancer and rheumatoid arthritis and growth in geriatric population globally. For Instance: according to World Cancer Research Fund International (WCRFI), breast cancer is the most common form of cancer in women worldwide with an average 2million new cases being detected every year. American Cancer Research Society (ACRS) anticipates by 2030, incident rate of breast cancer is expected to reach over 9.9million cases with over 5.5million annual deaths, primarily due to aging population. Similarly, as per the European Breast Cancer Coalition, incidence in the EU-28 in 2018 was estimated to be around 404,920. Thus, the demand for biosimilar monoclonal antibodies would increase as these drugs are normally administered in the treatment of cancer, chronic lymphocytic and leukemia. However, unfavorable government regulations in developed regions along with the high cost associated with the manufacturing process of these drugs are expected to impede the growth of the market over the forecast period.
The regional analysis of global Biosimilar Monoclonal Antibody market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to hold a notable share in the world in terms of revenue owing to the presence of advanced healthcare facilities along with the increasing adoption of biosimilar monoclonal antibodies. The dominance of the region is witnessed owing to the ongoing government activities to develop advanced and novel drugs. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period. Factors such as rising public-private initiative aimed towards boosting advance research practices and increase investment to promote Biosimilar Monoclonal Antibody research is expected to create lucrative prospects for the growth pf the region during the forecast period of 2019-2026.
Major market player included in this report are:
Boehringer Ingelheim GmbH
Coherus BioSciences Inc
Dr. Reddys Laboratories Ltd
Genor BioPharma Co Ltd
Intas Pharmaceuticals Limited
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Chronic & Autoimmune Diseases
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Biosimilar Monoclonal Antibody Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.