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Bevacizumab Market: Applications, Types and Market Analysis to 2021

Global Bevacizumab Industry is expected to grow at a higher CAGR in the forecast period. Bevacizumab commonly known as avastin is used to diagnose malignant glioma. The drug belongs to a class of drugs called monoclonal antibodies in which the drugs are built around to work with proteins present on the surface of tumor cells.

Specifically, bevacizumab reduces tumors by eliminating the formation of new blood vessels that feeds tumors and supplies them with oxygen. This process is known as angiogenesis which includes blocking the protein action termed as vascular endothelial growth factor (VEGF). VEGF plays a crucial role in formation of new blood vessels that surrounds tumors. Hence, with blocking of VEGF, the tumor growth is said to stop or control.

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Avastin is generically names as bevacizumab and is approved by U.S FDA to treat patients with several types of colorectal and lung cancers. The route of administration for bevacizumab is to inject through an IV every 14 to 21 days as prescribed. On detection of no side-effects, the treatment continues. Patients may experience side-effects such as delayed wound healing, nosebleeds, high blood pressure, excessive outflow of protein in urine, high blood pressure, fatigue and headache when diagnosed alone. Overall the global market for bevacizumab is anticipated to grow at a higher CAGR in the forecast period.

Global bevacizumab is driven by factors such as rising incidences of tumor and cancer. Additionally, sedentary lifestyle leading to acute illness also propels the global bevacizumab market. Moreover, rising geriatric population is anticipated to fuel the market growth in the forecast period. However, higher medication cost is likely to impede the market growth in the forecast period.

Global Bevacizumab Industry geographically spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. North America and European market is expected to grow at a higher CAGR in the forecast period owing to rise in prevalence of cancer and tumor patients. Moreover, increasing R&D in cancer is also expected to boost the market growth.

APAC regions such as China, Japan and Singapore are anticipated to boost the market growth owing to large consumer base and growing prevalence of cancer patients. Middle-East and African market is expected to grow at a moderate CAGR in the forecast period owing to rising medical infrastructure and growing R&D activities in the global bevacizumab industry.     The key players in the global bevacizumab industry include Pfizer, Biocon, Bionomics, Genexine, Amgen, Levolta Pharmaceuticals, Enzon Pharmaceuticals, Marsala Biotech, Mabtech, and Fujifilm Kyowa Kirin Biologics.

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