Oncology Biosimilars Market 2020 Global Research and Clinical Analysis - Biocoin, Celltrion Inc., Dr. Reddy's Laboratories Ltd.

The New report includes a detailed study of Global Oncology Biosimilars Market. It is the result of a comprehensive research carried out keeping in mind the different parameters and trends dominating the global Oncology Biosimilars Market. Both primary and secondary research has been carried out to arrive at the desired outcome. The primary research included feedback, opinion, and suggestion provided by the people and organization residing in the key markets as identified the industry experts.

The global oncology biosimilars market was worth $2990.34 million in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 33.17% and reach $9404.54 million by 2023.

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Top Key Players Profiled in This Report:

Biocoin, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Apotex Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH and BIOCAD.

The oncology biosimilars market covered in this report is segmented by drug type into monoclonal antibody, immunomodulators, hematopoietic agents, granulocyte colony-stimulating factor (G-CSF). It is also segmented by cancer type into breast cancer, colorectal cancer, blood cancer, neutropenia cancer, non-small cell lung cancer, others and by distribution type into hospital pharmacy, retail pharmacy and online pharmacy.

The expiration of patent of biologics used for the treatment of cancer is driving the production of new oncology biosimilars. Biologics can be patented for a limited period and the expiration of patents for biologics allows the development of new biosimilars. Biologics are targeted drugs synthesized from living organisms which induces the immune system to attack cancer cells. Biosimilars are similar to biologics but are not identical and offers the same effectiveness as biologics at a reduced cost. According to the Center for Biosimilars, patents on nearly 20 oncology biologics will expire by 2023, leading to the development of new biosimilars in cancer care. The increased number of patent expiry is expected to boost the demand for the production of new oncology biosimilars, thus, driving the market growth for oncology biosimilars.

The lack of awareness on biosimilars among primary care physicians (PCPs) and specialist limits the growth of the oncology biosimilars market. Biosimilars are manufactured from cell lines and offer the same effectiveness as biologics. However, lack of detailed awareness on the biosimilars amongst the prescribers reduces the prescriptions of biosimilars affecting the biosimilar market. For instance, as reported in 2018 by the Health Research Institute of PricewaterhouseCoopers, out of 442 clinicians surveyed 55% of clinicians were unfamiliar with biosimilars and 35% were reluctant to prescribe them due to concerns included safety of the follow-on biologic. Thus, the lack of awareness about biosimilars among primary care physicians (PCPs) and specialists restricts the growth of the oncology biosimilars market.

The pharmaceutical companies are increasingly investing in research and development to produce new oncology biosimilars. The companies are exploiting growth potential of rising biosimilar market by investing in their research and development (R&D) processes to support the research and production process of new biosimilars. For instance, in the fiscal year 2017, Aurobindo Pharma spent $80 million to support the research for the biosimilars including oncology biosimilars. Also, in 2019, Biocon, Indias largest biotechnology company invested to acquire some assets of Pfizer Healthcare to set up R&D facility to boost biosimilar development.

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Scope of the Report:

Markets Covered: 1) By Drug Type: Monoclonal Antibody; Immunomodulators; Hematopoietic Agents; Granulocyte Colony-Stimulating Factor (G-CSF); 2) By Cancer Type: Breast Cancer; Colorectal Cancer; Blood Cancer; Neutropenia Cancer; Non-Small Cell Lung Cancer; Others; 3) By Distribution Type: Hospital Pharmacy; Retail Pharmacy; Online Pharmacy

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Time series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP, Expenditure Per Capita, The Oncology Biosimilars Indicators Comparison.

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This research report represents a 360-degree overview of the competitive landscape of the Global Oncology Biosimilars Market. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies. The research report analyzes the Global Oncology Biosimilars Market in a detailed and concise manner for better insights into the businesses. Finally, the researchers throw light on different ways to discover the strengths, weaknesses, opportunities, and threats affecting the growth of the Global Oncology Biosimilars Market. The feasibility of the new report is also measured in this research report.

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