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Top Trends Transforming the Oncology Biosimilars Market Landscape in 2025: Fostering Innovation Through Research And Development For Oncology Biosimilars
Oncology Biosimilars
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What Will the Oncology Biosimilars Industry Market Size Be by 2025?_x000D_
The market size for oncology biosimilars has witnessed exponential increment in recent years. It is anticipated to elevate from $6.9 billion in 2024 to $8.85 billion in 2025, displaying a compound annual growth rate (CAGR) of 28.3%. Factors contributing to the growth in the historic period encompass an increased incidence of cancer, expiration of biologic cancer drug patents, government backing for biosimilars, escalating investments in the development and production of biosimilars, and broadening of the geographical scope of biosimilars._x000D_
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What's the Long-Term Growth Forecast for the Oncology Biosimilars Market Size Through 2029?_x000D_
The market size for oncology biosimilars is projected to experience substantial expansion in the upcoming years, reaching a value of $16.48 billion by 2029, propelled by a compound annual growth rate (CAGR) of 16.8%. The growth expected in this forecast period is driven by factors such as an expanding oncology biosimilar portfolio, patient-centric care, the containment of healthcare costs, and the emergence of targeted therapies and growing pipeline. Significant trends throughout this period are expected to involve biobetters, combinations of oncology biosimilars, supportive care biosimilars, and real-world evidence._x000D_
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What Are the Key Growth Drivers Fueling the Oncology Biosimilars Market Expansion?_x000D_
Patent expirations of biologics utilized in cancer treatment are propelling the creation of new oncology biosimilars. Biologics, basically targeted drugs crafted from living organisms that provoke the immune system to combat cancer cells, are patented for a finite duration, and their patent lapses permit the creation of innovative biosimilars. Biosimilars, which are akin to but not completely identical to biologics, provide the same efficiency as biologics but at a lower cost. The Center for Biosimilars reports that nearly 20 oncology biologic patents are set to expire by 2023, prompting the creation of novel biosimilars in the field of cancer care. The amplified frequency of patent expirations is projected to augment the demand for the creation of new oncology biosimilars, thereby stimulating the growth of the oncology biosimilars market._x000D_
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What Are the Key Trends Driving Oncology Biosimilars Market Growth?_x000D_
There is a growing trend among pharmaceutical firms to enhance their investment in the research and development of novel oncology biosimilars. This is motivated by the burgeoning prospects of the burgeoning biosimilar industry. These companies prioritise their R&D operations to facilitate the emergence and manufacture of new biosimilars. For example, in May 2022, Biocon Biologics, a biopharmaceutical company based in India, and Viatris Inc., an American biosimilars maker, introduced their third oncology biosimilar, Abevmy (bevacizumab), to the Canadian market. Abevmy is a biosimilar to Avastin (bevacizumab) by Roche, which is a recombinant humanized monoclonal antibody targeting vascular endothelial growth factor (VEGF). The inhibition of VEGF by Abevmy hampers the creation of new blood vessels that contribute to tumor growth._x000D_
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How Is the Oncology Biosimilars Market Segmented?_x000D_
The oncology biosimilars market covered in this report is segmented - _x000D_
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1) By Drug Type: Monoclonal Antibody, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF) _x000D_
2) By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types _x000D_
3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy _x000D_
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Subsegments:_x000D_
1) By Monoclonal Antibody: Rituximab Biosimilars, Trastuzumab Biosimilars, Bevacizumab Biosimilars, Pembrolizumab Biosimilars_x000D_
2) By Immunomodulators: Thalidomide Biosimilars, Lenalidomide Biosimilars, Pomalidomide Biosimilars_x000D_
3) By Hematopoietic Agents: Epoetin Biosimilars, Darbepoetin Biosimilars_x000D_
4) By Granulocyte Colony-Stimulating Factor (G-CSF): Filgrastim Biosimilars, Pegfilgrastim Biosimilars_x000D_
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Which Companies Are Leading the Charge in Oncology Biosimilars Market Innovation?_x000D_
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 _x000D_
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Which Regions Are Leading the Global Oncology Biosimilars Market in Revenue?_x000D_
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._x000D_
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