Major factor driving growth of the global biosimilar monoclonal antibodies market is patent expiry o

Antibodies produced by using identical immune cells which are clones of a unique parent cell are referred to as biosimilar monoclonal antibodies. Moreover, since monoclonal antibodies are produced from clones of only one parent cell, all monoclonal antibodies produced by the parent cell are the same due to which they are called biosimilar monoclonal antibodies.

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High prevalence rate coupled with increasing incidence of chronic diseases such as cancer and patent expiration on various biological drugs are major factors driving growth of the global market. Also, increasing government investment into development of appropriate healthcare infrastructure especially in developing economies is another factor expected to aid in growth of the global market over the forecast period.

Stringent government regulations for development and distribution of biosimilar monoclonal antibodies is a major factor restraining growth of the global monoclonal antibodies market. Additionally, high costs associated with development of biosimilar monoclonal antibodies is another factor anticipated to hamper growth of the global market over the forecast period.

Patent expirations on biological drugs is expected to create potential opportunities for prominent players in the market to expand their market presence and revenue share.

The global biosimilar monoclonal antibodies market report has been segmented on the basis of drug class, product, and region. On the basis of region, the global biosimilar monoclonal antibodies market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The market in Europe accounted for highest share in the global biosimilar monoclonal antibodies market in terms of revenue, owing to favorable government policies for manufacturing and distribution and high adoption of biosimilar monoclonal antibodies among individuals in countries in the region. The market in Asia Pacific is projected to witness highest growth over the forecast period registering highest CAGR, as compared to that of markets in other regions. This can be attributed to high prevalence rate of chronic diseases and increasing adoption of biosimilar monoclonal antibodies in emerging economies such as China and India.

Prominent players in the global biosimilar monoclonal antibodies market include Pfizer Inc., Novartis AG, Reliance Life Sciences, Biocon, Intas Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, BioXpress Therapeutics, SA., Coherus BioSciences, Inc., Genor BioPharma Co. Ltd., Allergan PLC, Celltrion Healthcare Co. Ltd., and Dr. Reddy’s Laboratories Ltd.

Monoclonal antibodies (mAb) are antibodies produced by using identical immune cells that are clones of one unique parent cell. Since monoclonal antibodies are produced from clones of only one parent cell, all monoclonal antibodies produced by the parent cell are the same due to which, they are called biosimilar monoclonal antibodies.

Global Biosimilar Monoclonal Antibodies Market Dynamics:

Major factor driving growth of the global biosimilar monoclonal antibodies market is patent expiry on essential biological drugs. These patent expiries allow manufacturers to produce biosimilar drugs in bulk quantities and offer it to the general public at much cost-effective rates. Also, a number of pipeline products and increasing cases of chronic and autoimmune diseases are other factors expected to fuel growth of the global biosimilar monoclonal antibodies market over the forecast period. Moreover, recent approvals by prominent regulatory bodies in developed economies for biosimilar monoclonal antibodies is another factor expected to boost adoption of biosimilar MAB and in turn propel growth of the global market to a significant extent.

Sumit Khatpe is a content writer at MarketResearch.biz. He creates customized research reports across all markets https://marketresearch.biz/report/biosimilar-monoclonal-antibodies-market/