Bevacizumab Market Size, Share, and Industry Analysis, By Product (Avastin, Alymsys, Mvasi, and Others), By Indication (Metastatic Colorectal Cancer, Recurrent Glioblastoma, Metastatic Renal Cell Carcinoma, Persistent, Recurrent, or Metastatic Cervical Cancer, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Drug Stores, and Others), and Regional Forecast 2024-2032

Bevacizumab is a humanized immunoglobulin G monoclonal antibody used to treat several types of cancers, including cervical cancer, metastatic colorectal cancer, glioblastoma, metastatic renal cell carcinoma, hepatocellular carcinoma, and others. Bevacizumab is administered in combination with other chemotherapy agents and targets a cancer cell protein identified as vascular endothelial growth factor (VEGF). Furthermore, this drug is off-labelly used for the treatment of diabetic eye disease.

Rising regulatory approvals, product launches, and increased investment in healthcare facilities are the primary drivers propelling the growth of the global bevacizumab market.

• For instance, in December 2023, the U.S. FDA approved Bio-Thera Solutions' Avastin biosimilar, bevacizumab-tnjn (Avzivi), for treating lung and colorectal cancers.


• Furthermore, in June 2023, Enzene Biosciences Ltd introduced Bevacizumab, a biosimilar of Avastin in India. This new biosimilar drug is used to treat metastatic colorectal cancer.

Furthermore, the growing prevalence of different types of cancers caters to the usage and demand for the products, which, in turn, drives market growth.

• For instance, according to data estimated by the American Cancer Society, Inc. in January 2024, approximately 81,610 new cases of renal cancer (52,380 in men and 29,230 in women) are projected to be diagnosed in 2024. Moreover, nearly 14,390 individuals (9,450 men and 4,940 women) are expected to die by the end of 2024.

Additionally, factors such as advancements in drug delivery systems and government support for biotechnological research are expected to drive market growth over the forecast period. Additional factors favoring industry expansion are an increased awareness about timely diagnosis and treatment for various recurrent and metastatic cancers.

The COVID-19 pandemic had a favorable impact on the global bevacizumab market in 2020 due to an increase in the demand for medication. Due to an increase in demand for Bevacizumab, many pharmaceutical and biotechnological companies have shifted their focus toward the development and launch of new drugs that are biosimilars of Bevacizumab. Several companies have experienced an increase in their sales of these products during the pandemic.

• In addition, the sales of MVASI (Bevacizumab) by Amgen Inc. in the U.S. reached USD 656.0 million in 2020 compared to USD 121.0 million in 2019. Similarly, global sales (excluding the U.S.) soared from USD 6.0 million in 2019 to USD 142.0 million in 2020. This boost in drug sales correlated with the growing demand for cancer treatment.

Furthermore, many research studies were conducted during the pandemic to check the efficiency of bevacizumab on COVID-19-infected patients. Recent studies have suggested that Bevacizumab, an FDA-approved anti-VEGF medication commonly used in cancer treatment, shows promise in treating acute lung injury (ALI) and acute respiratory distress syndrome (ARDS) in COVID-19 by reducing pulmonary edema.

• For instance, as per an article published by the National Center for Biotechnology Information (NCBI) in June 2022, a research study was conducted on COVID-19-infected patients. In this trial, 27 patients were registered and administered a single dose of Bevacizumab, then monitored over a 28-day period. Of these patients, 24 showed enhanced oxygen levels and there were no reported deaths. Additionally, none of the patients who received Bevacizumab experienced a deteriorating oxygen level.

This has led to a surge in the demand for the drug in the market, fueled by its efficacy during COVID-19 pandemic and the growing number of cancer patients requiring it.

Key Insights

The report covers the following key insights:

• Prevalence of Cancer - By Key Countries/Regions, 2022/2023


• New Product Launches, By Key Players


• Pipeline Analysis, By Key Players


• Overview of Regulatory Scenario, By Key Countries/Regions


• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)


• Impact of COVID-19 on the Global Bevacizumab Market

Segmentation

Analysis by Indication

Based on indication, the market can be segmented into metastatic colorectal cancer, recurrent glioblastoma, persistent or metastatic cervical cancer, metastatic renal cell carcinoma, and others. The metastatic colorectal cancer segment accounted for a significant share of the bevacizumab market in 2023. The growing prevalence of metastatic colorectal cancer and increasing regulatory approvals for bevacizumab biologics are some key factors responsible for segment growth.

• For instance, as per data provided by the WHO in July 2023, colorectal cancer ranks as the third most prevalent cancer globally, comprising roughly 10.0% of all cancer diagnoses. It stands as the second highest cause of cancer-related deaths worldwide. In 2020, over 1.9 million new cases of colorectal cancer and over 930,000 colorectal cancer-related deaths were estimated globally.

Moreover, various market players are engaged in strategic collaborations aimed at developing and launching bevacizumab to treat various types of cancers.

• For instance, in July 2019, Amgen and Allergan plc jointly developed MVASI, a biosimilar of Avastin, and introduced it into the U.S. market. The U.S. FDA approved this drug for the treatment of five different types of cancer. These comprise metastatic colorectal cancer, recurrent glioblastoma, non-squamous non-small cell lung cancer, metastatic renal cell carcinoma, and metastatic cervical cancer in combination with chemotherapy.

Regional Analysis

North America accounted for a significant share of the global bevacizumab market in 2023 and is expected to maintain its position over the forecast period. The region's highest growth is mainly due to the rising cancer burden across the U.S. and Canada. The growth is also driven by the well-established medical infrastructure and the widespread availability of advanced diagnostic testing for various types of cancer. Moreover, the rising incidence of metastatic and recurrent cancer in the region drives the demand for bevacizumab to treat these disease conditions, thereby boosting regional market expansion.

• For instance, as stated in the American Cancer Society, Inc., cancer stands as a primary cause of death in Canada and the second-leading cause of death, following heart disease, in the U.S. Further, lung cancer remains the leading cause of cancer-related deaths in both genders. In 2018, approximately 693,000 cancer fatalities and 1.9 million new cancer cases were reported in North America.

In addition, government funding for cancer treatment and the availability of a higher number of cancer centers across the region is another factor contributing to market growth across North America.

• For instance, as per data provided by the National Cancer Institute in September 2023, 72 NCI-Designated Cancer Centers exist across 36 states and the District of Columbia, all funded by NCI to provide state-of-the-art cancer treatments. Among these institutions are nine cancer centers, seven basic laboratory cancer centers, and 56 comprehensive cancer centers.

Increasing cases of colorectal cancer, cervical cancer, and other types of cancers and the utilization of Bevacizumab at healthcare facilities, including hospitals and cancer centers in North America, are positively impacting the market.

Key Players Covered

The report provides the profiles of key players such as Genentech, Inc. (F. Hoffmann-La Roche Ltd), Pfizer Inc., Amneal Pharmaceuticals LLC., Novartis AG, Amgen Inc., and Celltrion Healthcare Co., Ltd.

Key Industry Developments

• In March 2024, Dr. Reddy's Laboratories introduced Versavo (Bevacizumab) in the U.K. This drug is a biosimilar of Avastin and is indicated for different types of cancer, including metastatic colorectal cancer.


• In April 2023, Celltrion announced the launch of VEGZELMA (bevacizumab-adcd) in the U.S. This drug is used to treat several cancers, including breast and colorectal cancer.


• In October 2022, Amneal Pharmaceuticals, Inc. introduced ALYMSYS (bevacizumab-maly) in the U.S. market.


• In September 2022, the U.S. FDA approved Celltrion's Vegzelma for treating six different types of cancers.


• In December 2019, Daiichi Sankyo Company, Limited introduced bevacizumab B.S. in Japan.