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Oncology Biosimilars Market Analysis, Trends, Growth, Research And Forecast 2032
Oncology Biosimilars Market
The Business Research Company's Oncology Biosimilars Global Market Report 2023 identifies The expiration of the patent of biologics used for the treatment of cancer as the major driver for the oncology biosimilars market's growth in the forecast period. 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 that induce the immune system to attack cancer cells. Biosimilars are similar to biologics but are not identical and offer the same effectiveness as biologics at a reduced cost
The global oncology biosimilars market size grew from $4.19 billion in 2022 to $5.38 billion in 2023 at a compound annual growth rate (CAGR) of 28.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global oncology biosimilars is expected to grow from $12.83 billion in 2027 at a CAGR of 24.3%.
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Major competitors in the oncology biosimilars market are Bitcoin, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Apotex Inc., Teva Pharmaceutical Industries Ltd.
A key trend in the oncology biosimilars market includes the pharmaceutical companies are increasingly investing in research and development to produce new oncology biosimilars. The companies are exploiting the growth potential of the 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 February 2021, Coherus and Junshi Biosciences announced a collaboration in which Coherus would in-license toripalimab, an anti-PD-1 antibody in the US and Canada. Coherus plan to build a leading immuno-oncology franchise using cash from its commercial biosimilar business. Also, in 2019, Biocon, India's largest biotechnology company invested to acquire some assets of Pfizer Healthcare to set up an R&D facility to boost biosimilar development.
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The oncology biosimilars market is segmented -
• By Drug Type: Monoclonal Antibodies, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF)
• By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types
• By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the oncology biosimilars market.
The Business Research Company's "Global Oncology Biosimilars Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Oncology Biosimilars Market Include:
1. Executive Summary
2. Oncology Biosimilars Market Characteristics
3. Oncology Biosimilars Market Trends And Strategies
4. Oncology Biosimilars Market - Macro Economic Scenario
5. Oncology Biosimilars Market Size And Growth
……
27. Oncology Biosimilars Market Competitive Landscape And Company Profiles
28. Oncology Biosimilars Pipeline Analysis
29. Key Mergers And Acquisitions In The Oncology Biosimilars Market
30. Oncology Biosimilars Market Future Outlook and Potential Analysis
31. Appendix
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