Herceptin Biosimilar Market to reach USD 11,287 Million - Risk-adjusted numbers with COVID-19 analysis change scenario

The Global Herceptin Biosimilar Market Size was valued at USD 1,795 Million in 2021 and is predicted to be worth USD 11,287 Million by 2030, with a CAGR of 23.2% from 2022 to 2030.

Breast cancer is among the most common causes among women worldwide. An increase in the incidence of gastric and breast cancer among individuals, particularly women, is a major factor contributing to the growth Herceptin biosimilar market size. In the coming years, there will be numerous opportunities for the global Herceptin biosimilars market shares to expand. This advancement can be attributed to a wide range of factors. Globally, people's lifestyles have undergone a noticeable shift in recent years. The number of individuals who smoke has also significantly increased. All of these factors have contributed to a growth in the proportion of cancer patients worldwide. This type of situation has resulted in significant market opportunities in the global Herceptin biosimilar market trends.

Herceptin, also known as trastuzumab, is a monoclonal antibody that is being used to treat various cancer patients. Herceptin is a type of immune-targeted treatment that works by inhibiting the living being's vascular endothelial growth factor. Herceptin biosimilar incorporates the chemotherapy drugs cyclophosphamide and doxorubicin, which are used as a component of a treatment regimen. The rising incidence of breast cancer among people, combined with advancements in the healthcare sector, is influencing the growth of the global market. Besides that, growing R&D activities in the healthcare profession and technological advancements are expected to boost overall industry demand for Herceptin biosimilars market size throughout the projected period.

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Global Herceptin Biosimilar Market Dynamics

Growing development and advancement in the healthcare sector and the increasing implementation of advanced innovation lead to the expansion of the Herceptin biosimilars market growth. Furthermore, higher healthcare applications for anticancer therapy and stimulating sustainable therapeutic interventions in healthcare facilities are propelling the development of the Herceptin biosimilars market value in the coming years. The increasing incidence of malignant tumors such as gastric cancer, breast cancer, and others can be likened to the Herceptin biosimilars market growth. According to the World Health Organization, approximately 2.26 million people have cancer, which leads to the rise of monoclonal antibodies for diagnosis and drives the Herceptin biosimilars market value during the forecast period.

Herceptin Biosimilar Market Regional Outlook

The Herceptin biosimilar market is divided into five continents: Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa. According to the Herceptin biosimilar market analysis, North America is projected to lead the global market during the forecast period. The rising number of patients affected by breast and gastric cancer, developments and improvements in medical sectors, a rise in government funding and support, and the presence of major main players all contribute to the market's growth in North America. For example, in 2019, Allergan plc and Amgen Inc. collaborated to release KANJINTI (trastuzumab) for the diagnosis of HER2-overexpressing adjuvant as well as metastatic breast cancer, as well as HER2-overexpressing metastatic gastric or gastro esophageal junction adenocarcinoma. KANJINTI has been approved by the US Food and Drug Administration to treat breast and gastric cancer throughout the United States.

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Market Segmentation

The global herceptin biosimilar market is divided into application and end-user, according to Acumen Research and Consulting. In terms of application, the segment has been classified into breast cancer, lymphoma, leukemia, colorectal cancer, and others. In terms of end-user, the industry is categorized into oncology centers, hospital & clinics, and others.

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Herceptin Biosimilar Market Players

Nowadays, prominent players are constantly focusing on launching new products in untapped regions, which is shaping the market for Herceptin biosimilars. To keep their competitive position in the market and ultimately benefit the needs of their customers, businesses operating in the Herceptin biosimilars market are undertaking different strategic projects such as the development of new products, collaborations, and geographical and product portfolio expansion. For example, in December 2019, Mylan and Biocon introduced Ogivri (trastuzumab-dkst), a Trastuzumab Biosimilar, in the United States. Mylan intends to make Ogivri available in 150 mg as well as 420mg doses, rising access to treatment for HER2-positive gastric and breast cancer.

Some of the prominent Herceptin biosimilar market companies are Amgen Inc., Genor Biopharma Company Ltd, Merck & Co., Inc., Mabion SA, Roche Holding AG, Pfizer Inc., Mylan N.V, Biocon Limited, AryoGen Biopharma, Gedeon Richter Plc, Accord Healthcare Ltd, and Samsungbioepis Co,.Ltd.

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