Bevacizumab Biosimilars Market Set for Explosive Growth: Cost-Effective Cancer Treatment Options Drive Adoption

Global Bevacizumab Biosimilars Market is expected to grow at an 18.4 % CAGR during the forecast period for 2024-2031.

Global Bevacizumab Biosimilars Market is expected to grow at an 18.4 % CAGR during the forecast period for 2024-2031.

The market for bevacizumab biosimilars, a biologic medication used to treat different kinds of cancer, has grown significantly in the last few years. This increase can be ascribed to the high cost of the original medication as well as the rising incidence of cancer throughout the globe. The market is growing as a result of the launch of bevacizumab biosimilars, which have given consumers and healthcare providers a more affordable option.
The market for bevacizumab biosimilars is anticipated to continue growing in the upcoming years due to the growing emphasis on biosimilars and the original medication’s patent expiring. To take advantage of the potential this expanding market presents industry players.

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Recent Developments:

  • In December 2023, Bio-Thera Solutions received USFDA approval for fifth bevacizumab biosimilar, Avzivi (bevacizumab-tnjn) for the treatment of several types of cancers including metastatic colorectal cancer, nonsquamous non–small cell lung cancer, recurrent glioblastoma, metastatic renal cell carcinoma, cervical cancer and epithelial ovarian cancer.

  • In November 2022, the global biosimilars business of Viatris Inc. was successfully bought by Biocon Biologics Ltd., an India-based company and subsidiary of Biocon Ltd., for an undisclosed sum. Biocon Biologics Ltd. is involved in the manufacturing of biopharmaceuticals. The goal of this calculated acquisition is to increase Biocon Biologics’ market share in the biosimilars industry. With notable drugs like Bevacizumab, Viatris Inc. is a US-based pharmaceutical and healthcare company that specializes in medicines for important therapeutic areas, including cancer.