Press release
Patent Expirations Drive New Oncology Biosimilars Driver: Leading Transformation in the Oncology Biosimilars Market in 2025
Oncology Biosimilars Market Size
The market size of oncology biosimilars has experienced a substantial increase in the past years. The market which was valued at $6.9 billion in 2024 is projected to reach $8.85 billion in 2025, marking a compound annual growth rate (CAGR) of 28.3%. The impressive growth during the historical interval can be credited to various factors such as the escalating incidence of cancer, expiration of patents for biologic cancer medications, government backing for biosimilars, increased funding in biosimilar development and manufacturing, and the widening geographic presence of biosimilars.
The market size of oncology biosimilars is projected to witness swift expansion in the coming years, escalating to $16.48 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 16.8%. The forecasted period's growth can be credited to an expanding portfolio of oncology biosimilars, patient-focused care, containment of healthcare costs, and targeted therapies, along with a burgeoning pipeline. Key trends in the forecast period are expected to be biobetters, combinations of oncology biosimilars, supportive care biosimilars, and real-world evidence.
What Is Driving the Growth Trajectory of the Oncology Biosimilars Market?
The surge in the creation of novel oncology biosimilars is attributed to the termination of patents pertaining to biologics utilized for cancer treatment. Upon their expiration, patents for these biologics pave the way for the formulation of fresh biosimilars. Synthesized from live organisms, biologics are specifically designed drugs that stimulate the immune system to eradicate cancer cells. Similar but not identical to biologics, biosimilars deliver the same degree of effectiveness as biologics but at a lower cost. The Center for Biosimilars has revealed that close to 20 patents for oncology biologics are set to expire by 2023, fostering the generation of new biosimilars in the field of cancer treatment. The escalating incidences of patent expirations are predicted to serve as precedents for the demand to manufacture new oncology biosimilars, thus, catalyzing the growth of the oncology biosimilars market.
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Which Leading Companies Are Shaping the Growth of the Oncology Biosimilars Market?
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, Sanofi SA, Mylan, Samsung Bioepis, Biogen International GmbH, Merck & Co. Inc., Coherus Biosciences, Eli Lilly and Company, Novartis AG, Viatris Inc., 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
What Are the Major Trends Shaping the Oncology Biosimilars Market?
The trend of increased research and development investments by pharmaceutical companies aiming to produce novel oncology biosimilars is gaining momentum. These companies are capitalizing on the swelling biosimilar market, allocating resources into their R&D to facilitate the investigation and production of new biosimilars. For example, Biocon Biologics, a biopharmaceutical organization based in India, and Viatris Inc., a US-based biosimilar manufacturer, introduced their third oncology biosimilar, Abevmy (bevacizumab), into the Canadian market in May 2022. Abevmy functions as a biosimilar to Roche's Avastin (bevacizumab), a recombinant humanized monoclonal antibody that counters the vascular endothelial growth factor (VEGF). Through its inhibition of VEGF, Abevmy impedes the creation of new blood vessels necessary for tumor growth.
What Are the Key Segments of the Oncology Biosimilars Market?
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
Subsegments:
1) By Monoclonal Antibody: Rituximab Biosimilars, Trastuzumab Biosimilars, Bevacizumab Biosimilars, Pembrolizumab Biosimilars
2) By Immunomodulators: Thalidomide Biosimilars, Lenalidomide Biosimilars, Pomalidomide Biosimilars
3) By Hematopoietic Agents: Epoetin Biosimilars, Darbepoetin Biosimilars
4) By Granulocyte Colony-Stimulating Factor (G-CSF): Filgrastim Biosimilars, Pegfilgrastim Biosimilars
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Which Region Dominates the Oncology Biosimilars Market?
The countries covered in the oncology biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Is Covered In The Oncology Biosimilars Global Market Report?
- Market Size Analysis: Analyze the Oncology Biosimilars Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Oncology Biosimilars Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Oncology Biosimilars Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Oncology Biosimilars Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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