Oncology Biosimilars Is Likely To Be Valued At Us$ 12 Billion By 2031

The global oncology biosimilars market is expected to surge nearly 3x across the 2022-2032 forecast period, reaching US$ 12 Billion. As of 2022, the market is expected to garner a valuation of US$ 4.2 Billion. Advancements in cancer research to develop breakthrough therapeutics and diagnostics is expected to impel market growth in the future.

From 2015 to 2021, sales of oncology biosimilar drugs flourished at a CAGR of 9%, closing at a value of US$ 4 Billion. The increased incidences of cancer, such as lung cancer and breast cancer, a susceptible ageing population, and an increase in research and development efforts done by numerous pharmaceutical firms have all led to the expansion of the oncology biosimilars market.

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Additionally, increased patient awareness, advancements in therapeutic approaches, and the high cost of biologics medications are all factors influencing the demand for oncology biosimilars. Conversely, product recalls, allied with restrictive regulations, are factors inhibiting the growth of this sector. Because of the increasing frequency of cancer and the increase in the number of FDA-approved medications, North America has seen a good expansion in the oncology biosimilars market throughout the anticipated period.

Key Takeaways from the Market Study

• Demand for oncology biosimilars is expected to grow at an 11% CAGR between 2022 and 2032.
• By 2032, the oncology biosimilars market in the United States will reach US$ 5.6 Billion by 2020.
• China is expected to register a 7.7% CAGR with regard to the Oncology Biosimilars industry
• Japan is expected to document a CAGR worth 7.5% in the Oncology Biosimilars market
• The neutropenia segment is expected to grow at a rapid 7% CAGR over the assessment period.

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Competitive Landscape

The worldwide market for oncology biosimilars is a highly consolidated market. The top five market participants jointly account for more than 70% of the market share. To expand their market footprints, these companies rely heavily on active collaborations to boost their product distribution networks.
• In 2018, Biocon, for example, established an exclusive global agreement with Sandoz on next-generation biosimilars. Similarly, Dr. Reddy's cooperated with TR Pharm in 2016 to offer three biosimilars in Turkey. Pfizer, Inc., Celltrion, Inc., Sandoz International GmBH, STADA Arzneimittel AG, and Apotex, Inc. are some of the other significant industry participants in the global oncology biosimilars market.
• Atos has announced recently in April 2022 that it intends to forge a 5-year contractual agreement to deliver managed services for digital operations, applications and cybersecurity for Independent Health (IH). Atos' operational solutions will leverage infrastructure and digital platforms to optimize operating costs and generate efficiencies across the business landscape.

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Key Segments Covered in the Oncology Biosimilars Industry Report
· Oncology Biosimilars by Drug
•
o G-CSF
o Monoclonal Antibody
o Hematopoietic Agents
· Oncology Biosimilars by Disease Indication
•
o Breast Cancer
o Non-Small Cell Lung Cancer
o Colorectal Cancer
o Neutropenia
o Blood Cancer
o Leukemia
 Myeloid Leukemia
 Chronic Lymphocytic Leukemia (CLL)
 Non-Hodgkin Lymphoma
o Others
· Oncology Biosimilars by Distribution Channel
•
o Hospital Pharmacy
o Retail Pharmacy
o Online Pharmacy
· Oncology Biosimilars by Region
•
o North America
o Europe
o Asia Pacific
o Rest of the World

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