Global Bevacizumab Market – Industry Trends and Forecast to 2030

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Bevacizumab Market Analysis and Size

The increasing prevalence of cancer and changing lifestyle along with support groups are being instrumental for cancer patients in coping with cancer by providing funds and supportive care will boost the market growth. Emerging markets and the collaboration of global pharmaceutical manufacturers also have a positive impact on the market.                                

Data Bridge Market Research analyses that the market, which was USD 6,679.14 million in 2022, would rocket up to USD 12,967.08 million by 2030 and is expected to undergo a CAGR of 9.20% during the forecast period. “Cancer” dominates the disease segment of the bevacizumab market owing to the growing demand for bevacizumab to treat cancer. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Bevacizumab Market Scope and Segmentation

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Market Definition

Bevacizumab is a humanized recombinant monoclonal antibody that is effective against vascular endothelial growth factor called VEGF (pro angiogenic cytokine), which is made up of cells that help in new blood vessel formation. Bevacizumab acts by binding to VEGF and subsequently inhibiting its receptor binding process, which prevents the growth of the tumor and cancerous cells. Bevacizumab is currently undergoing many trials for being combined with other drugs for cancer treatment.

Global Bevacizumab Market Dynamics

Drivers

• Increasing cancer prevalence

Cancer remains a major global health problem, and the incidence of various types of cancer is increasing. Bevacizumab is the main treatment for many types of cancer, including colon, lung, breast, and kidney cancer. The increasing prevalence of cancer worldwide increases the demand for bevacizumab as an effective treatment option, driving market growth.

• Advancements in biotechnology and research

The field of biotechnology and cancer research is rapidly evolving, leading to the discovery of new therapeutic targets and treatments. Bevacizumab, an anti-angiogenic drug, has shown efficacy in inhibiting tumor growth by targeting blood vessel formation. Continued R&D efforts to find new applications and combinations for bevacizumab will drive market growth.

• Growing investment in healthcare facilities

Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market. The rising number of partnerships and strategic collaborations between the public and private players about funding and application of new and improved technology further creates lucrative market opportunities.  

• Technological advancements in drug delivery systems

The development of improved drug delivery systems has improved the delivery and efficacy of bevacizumab. For example, the introduction of intravitreal injections in treating eye diseases facilitated the use of bevacizumab in conditions such as macular degeneration and diabetic retinopathy. Technological advancements in drug delivery systems improve patient comfort and enable targeted deliveries, thus driving market growth.

Opportunities

• Growing demand in emerging markets

Emerging markets present a significant opportunity for the bevacizumab market. As healthcare infrastructure and access to advanced treatments improve in these regions, the demand for bevacizumab is expected to rise. Emerging economies, such as China, India, Brazil, and others, have a large population base and increasing incidences of cancer. By strategically entering these markets and addressing affordability challenges, companies can tap into the growing demand and expand their market share. 

• Expansion into new indications

Although bevacizumab is mainly used in treating various cancers, it can be expanded to new indications. Bevacizumab is currently being studied for its effectiveness in other diseases, such as age-related macular degeneration, diabetic retinopathy, and certain neurological diseases. Successfully expanding the range of indications for bevacizumab could open new market segments and stimulate revenue. 

Challenges/ Restraints

• Patent expiry and potential generic competition

Bevacizumab has limited patent exclusivity, and if the patents expire, it opens the door to potential generic competition. Generic versions of bevacizumab, also known as biosimilars, may enter the market at lower prices, challenging incumbent drugmakers for market share and profitability. Successfully navigating the competitive environment by introducing biosimilars is a major challenge for companies in the bevacizumab market. 

• High cost and limited affordability

Bevacizumab is a complex biological drug with high production costs. As a result, medicines are expensive, making them unaffordable for a large part of the population, especially in developing and low-income countries. The high cost of bevacizumab may limit its availability and adoption, thus hindering market growth. 

• Stringent regulatory requirements

The regulatory processes and requirements for approval of bevacizumab and other biologics can be rigorous and time-consuming. Regulatory approval from different authorities in multiple countries can be complex and expensive. Regulatory challenges may delay market entry and limit the availability of bevacizumab, affecting the growth potential of this market. 

The global Bevacizumab market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Bevacizumab market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2020, the European Medicines Agency (EMA) approved the first biosimilar of bevacizumab for the treatment of multiple types of cancer. The availability of biosimilars contributes to increased competition in the market and has the potential to enhance patient access to bevacizumab therapy.

• In 2020, the U.S. Food and Drug Administration (FDA) approved bevacizumab in combination with chemotherapy as a treatment option for patients with advanced hepatocellular carcinoma (liver cancer). Ongoing clinical trials and research also evaluate the use of bevacizumab in combination with other therapies and its potential in different types of cancers and non-cancerous conditions. 

Global Bevacizumab Market Scope

This market is segmented on the basis of diseases, brand name, Dosage, application, end-users, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Diseases

• Cancer
• Eye diseases

Brand Name

• Avastin
• Mvasi
• Zirabev
• Others

Dosage

• 100 mg
• 400 mg

Application

• Non squamous non-small cell lung cancer
• Recurrent glioblastoma
• Cervical cancer
• Colorectal cell cancer
• Ovarian cancer
• Proliferative diabetic retinopathy
• Malignant glioma
• Neurofibromatosis
• Pancreatic cancer
• Others

End User

• Hospitals
• Cancer supportive centres
• Home healthcare
• Academic and research institutes
• Others

Distribution channel

• Direct tender
• Hospital pharmacy
• Retail pharmacy
• Online pharmacy
• Others

Global Bevacizumab Market Regional Analysis/Insights

The global bevacizumab market is analysed, and market size insights and trends are provided by country, diseases, brand name, Dosage, application, end-users, and distribution channel as referenced above.

The countries covered in this market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.

Europe accounts for the largest market share due to the increased consumption of bevacizumab to treat various types of cancer.   

Asia-Pacific is expected to account for the largest market share over the coming years for the market due to increasing prevalence and growing healthcare expenditure.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Bevacizumab market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2010-2020.

Competitive Landscape and Global Bevacizumab Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Genentech (U.S.)
• Amgen (U.S.)
• Pfizer Inc. (U.S.)
• Allergan (Ireland)
• Biocon (India)
• Reliance Life Sciences (India)
• Beacon Pharmaceuticals Limited (Bangladesh)
• Celgene Corporation (U.S.)
• Mylan Inc, (U.S.)
• Dr. Reddy’s Laboratories Ltd (India)
• Eli Lilly and Company (India)
• BioXpress Therapeutics (Switzerland)
• Teva Pharmaceutical industries Ltd. (Isarel)
• CELLTRION INC. (South Korea)
• mAbxience (Switzerland)
• Samsung Bioepis (China)
• FUJIFILM KYOWA KIRIN BIOLOGICS Co., Ltd. (Japan)
• Hetero Drugs (U.S.)
• AryoGen Pharmed (Iran)
• Zydus Cadila (India)

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