Biosimilar Monoclonal Antibody Market Size, Share, Industry Trends and Forecast to 2030

Biosimilar Monoclonal Antibody Market Size & CAGR in 2021

The global biosimilar monoclonal antibody market is estimated to have a Compound Annual Growth Rate (CAGR) of 5.2% in 2021. The market size is projected to reach USD 12.3 billion by the end of 2021. Biosimilar monoclonal antibodies are gaining traction in the pharmaceutical industry due to their cost-effectiveness compared to branded monoclonal antibodies.

COVID-19 Impact on the Biosimilar Monoclonal Antibody Market

The COVID-19 pandemic had a mixed impact on the biosimilar monoclonal antibody market. While there was a disruption in the supply chain and clinical trials due to lockdowns and restrictions, the demand for biosimilar monoclonal antibodies increased as they were used in the treatment of COVID-19 patients. The market witnessed a surge in research and development activities to develop biosimilar monoclonal antibodies for COVID-19 treatment.

Biosimilar Monoclonal Antibody Dynamics

The biosimilar monoclonal antibody market is driven by the increasing prevalence of chronic diseases such as cancer, autoimmune disorders, and infectious diseases. Biosimilar monoclonal antibodies offer a more affordable treatment option, making them accessible to a larger patient population. The market is also influenced by the growing emphasis on personalized medicine and the development of targeted therapies.

Segments and Related Analysis

The biosimilar monoclonal antibody market can be segmented based on product type, application, and end-user. The product type segment includes IgG, IgM, IgE, and others. The application segment comprises oncology, autoimmune diseases, infectious diseases, and others. The end-user segment includes hospitals, clinics, and research institutions.

By Region Analysis

The biosimilar monoclonal antibody market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America leads the market due to the presence of key market players, advanced healthcare infrastructure, and high adoption of biosimilar monoclonal antibodies. However, the Asia Pacific region is expected to witness the fastest growth rate during the forecast period due to increasing investments in the healthcare sector.

Key Market Players and Competitive Landscape

Some of the key market players in the biosimilar monoclonal antibody market include Amgen Inc., Pfizer Inc., Novartis AG, Celltrion Inc., and Samsung Bioepis. These companies are focusing on strategic collaborations, product launches, and acquisitions to strengthen their market position and expand their product portfolio.

Recent Happenings in the Biosimilar Monoclonal Antibody Market

- In May 2021, Amgen Inc. received approval for its biosimilar monoclonal antibody for the treatment of autoimmune diseases. - In June 2021, Pfizer Inc. announced the launch of a new biosimilar monoclonal antibody targeting oncology indications. - In August 2021, Novartis AG unveiled its latest biosimilar monoclonal antibody for the treatment of infectious diseases.