Press release
Granulocyte-Colony Stimulating Factor Category to Dominate the Oncology Biosimilars Market Through 2025
The demand for oncology biosimilar drugs has augmented in recent years. This is attributed to the rising prevalence of various types of cancers across the world. In addition, existing anti-cancer drugs in the pipeline are quite expensive, thus rendering them unaffordable to people in lower and middle income countries. As a consequence, the market for biosimilars has burgeoned.For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=4800
However, the current COVID-19 pandemic is poised to stall growth trajectory of the market, owing to supply chain disruptions from leading biosimilar manufacturing hubs and shifting priorities of healthcare providers. These shifting priorities are delaying clinical trials for biosimilars, thus delaying their adoption. However, long-term prospects are highly optimistic, with the industry registering an aggrandizing CAGR of 29.4% by 2025-end.
Key Takeaways of Oncology Biosimilars Market Study:
• By drug class, the granulocyte-colony stimulating factor (G-CSF) category shall dominate the oncology biosimilars market, capturing more than 3/5th of the total market share. Rising adoption of chemotherapy is the key growth driver of the segment. However, monoclonal antibodies are set to grow the fastest, expanding 4.0x, attributed to modification of manufacturing facilities to develop complex and effective drugs.
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• By disease indication, the blood cancer and neutropenia segments are set to account for the majority of the market share, accounting for 22.3% and 54.7% respectively. Rising FDA approvals for biosimilar products manufactured by leading market players are attributed as key drivers behind the expansion. Examples of such drugs are filgrastim-sndz and filgrastim-aafi.
Global Oncology biosimilars Market Segmentation
Fact.MR has studied the global oncology biosimilars market with detailed segmentation on the basis of drug class, disease indication, distribution channel, and region.
Drug Class
• G-CSF
• Monoclonal Antibody
• Hematopoietic Agents
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Disease Indication
• Breast Cancer
• Non-Small Cell Lung Cancer
• Colorectal Cancer
• Neutropenia
• Blood Cancer:
• Leukemia:
• Myeloid Leukemia
• Chronic Lymphocytic Leukemia (CLL)
• Non-Hodgkin Lymphoma
• Others
Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/09/11/1914156/0/en/Ill-Effects-of-Self-medication-Practices-to-Ramp-up-the-Adoption-of-Earwax-Removal-Aids-Fact-MR.html
Global Oncology Biosimilars Market: Competition Structure:
The global oncology biosimilars market consists of the following market players: Celltrion, Inc., Dr. Reddy’s Laboratories Ltd., Biocon, Teva Pharmaceutical Industries Ltd., and Sandoz International GmBh. This makes it a highly consolidated market. Collectively, these market players account for more than 70% of the market share. In order to increase their market footprints, these companies rely heavily on strengthening their product distribution networks through active collaborations.
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