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Oncology Biosimilars Global Market Report 2024 - By Size, Share, Growth, Report, Forecast To 2033
Oncology Biosimilars Market
Oncology Biosimilars Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $16.48 billion In 2028 At A CAGR Of 16.8% :
The oncology biosimilars market size has grown exponentially in recent years. It will grow from $6.9 billion in 2023 to $8.85 billion in 2024 at a compound annual growth rate (CAGR) of 28.3%. The growth in the historic period can be attributed to rising prevalence of cancer, patent expirations of biologic cancer drugs, government support for biosimilars, growing investments in biosimilar development and manufacturing, expanding geographical reach of biosimilars.
The oncology biosimilars market size is expected to see exponentially grown in the next few years. It will grow to $16.48 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to expanding oncology biosimilar portfolio, patient-centric care, healthcare cost containment, targeted therapies, expanding pipeline. Major trends in the forecast period include biobetters, oncology biosimilar combinations, supportive care biosimilars, real-world evidence.
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Oncology Biosimilars Market Major Segments
The oncology biosimilars market covered in this report is segmented -
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, Other Cancer Types
3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Key Driver - Patent Expirations Drive New Oncology Biosimilars
The expiration of the 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 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. 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.
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Prominent Trend - Fostering Innovation Through Research And Development For Oncology Biosimilars
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.
Oncology Biosimilars Market Players
Major companies operating in the oncology biosimilars market include Biocon Biologics Limited, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Apotex Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, BIOCAD, Amgen Inc., F. Hoffmann-La Roche, Baxter International Inc., Sanofi SA, Mylan, Samsung Bioepis, Biogen International GmbH, Merck & Co. Inc., Coherus Biosciences, Eli Lilly and Company, Novartis AG, Shanghai Henlius Biotech, Viatris Inc., Catalent Inc., Patheon, Accord Healthcare Ltd., Zydus Cadila Health Care Limited, Hetero Drugs Limited, Mundipharma International Limited, Mabion SA, Polpharma Biologics, Alvotech, Innovent Biologics, Gan & Lee Pharmaceuticals, Henlius Biotech
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Largest And Fastest Growing Region In The Market
North America was the largest region in the global oncology biosimilars market in 2023. Middle East is expected to be the fastest-growing region in the oncology biosimilars market report forecast period. The regions covered in the oncology biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Oncology Biosimilars Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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