Oncology Biosimilars Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis Forecast 2022 to 2028

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Global Oncology Biosimilars Market By Drug Type (Monoclonal Antibody, Immunomodulators, G-CSF, Hematopoietic Agents, and Others) By Cancer Type (Lung Cancer, Colorectal Cancer, Cervical Cancer, Breast Cancer, and Others), and Geography

 

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Report

Description

The oncology biosimilars market is valued at USD 3.5 billion in 2021 and is poised to grow at a significant CAGR of 30.0% over 2022–2028. According to the World Health Organization (WHO), cancer is one of the second most important causes of death worldwide. According to WHO figures, 9.6 million people died from cancer in 2018. These figures emphasize the importance of reducing cancer-related fatalities. The growth of the oncology biosimilars market has been fueled by an increase in cancer cases such as lung cancer and breast cancer, a vulnerable aging population, and increasing research and development activities by multiple pharmaceutical companies. The Biosimilars are biological medications demonstrated to be highly similar to the original drug in terms of potency, safety, and purity. Oncology biosimilars are used to treat a variety of cancers and symptoms as therapeutic, diagnostic, or preventive agents. The oncology biosimilars are the first choice for many cancer patients, resulting in a faster growth rate. Pharmaceutical companies are capitalizing on the expanding biosimilar market’s growth potential by investing in their research and development (R&D) operations to support the development and production of new biosimilars. For example, Coherus and Junshi Biosciences announced a partnership in February 2021 in which Coherus would in-license toripalimab, an anti-PD-1 antibody, in the United States and Canada. Coherus intends to use cash from its commercial biosimilar company to develop a top immuno-oncology franchise. In addition, Biocon, India’s largest biotechnology business, invested in Pfizer Healthcare’s assets to establish an R&D facility to accelerate biosimilar development. Moreover, FDA has approved Oncology biosimilars in large numbers, a trend that is expected to continue in the future years. The FDA approved two significant biosimilars: filgrastim-sndz (Zarxio) and bevacizumab-awwb (Mvasi). The impact of the increasing approval rate on market maturity will be intriguing to watch. Approaching patent expirations of branded biologics and increased research and development (R&D) activity by biosimilar manufacturers are some of the critical growth-inducing factors for the market.

Recent Market Developments:

In December 2020, Amgen received United States Food and Drug Administration (USFDA) approval for RIABNI (rituximab-arrx). RIABNI (rituximab-arrx) is a biosimilar to rituximab used to treat adult patients suffering from non-Hodgkin’s lymphoma, chronic lymphocytic leukemia, Wegener’s granulomatosis, and microscopic polyangiitis (MPA).

Oncology Biosimilars Market

MARKET SUMMARY
-
30.0% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 30.0%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Oncology Biosimilars Market

  • The report on global oncology biosimilars market gives historical, current and future market sizes (US$ Bn) on drug type, cancer type, and geography.
  • oncology biosimilars market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Biocoin
  • Celltrion inc.
  • Reddy’s Laboratories Ltd.
  • Intas Pharmaceuticals Ltd.
  • STADA Arzneimittel AG
Oncology Biosimilars Market

Dynamics

According to the American Journal of Managed Care, biosimilars are 20–30% cheaper than their parent/branded counterparts, and this saves money while giving patients access to highly effective medicines. Biosimilars have more affordable R&D expenses than originator biologics, and Biosimilars are less expensive since R&D expenses are reduced. Biosimilars with lower prices tend to drive down the costs of reference biologics due to price rivalry among manufacturers. Biosimilar medications’ considerable cost-to-benefit ratio is predicted to increase their demand in the coming years. However, biosimilar development is a time-consuming and expensive procedure requiring significant financial inputs, technical capabilities, clinical trial knowledge, scientific standards, and quality control systems. The oncology biosimilars market is limited by a lack of understanding among primary care physicians (PCPs) and specialists about biosimilars.


North-America got significant share

Oncology Biosimilars Market

The oncology biosimilars market in North America is likely to hold the highest revenue share in 2022, and, in the following years, it is predicted to increase rapidly. The United States provides similarly appealing expansion opportunities. The region's increased investment in R&D to create pipeline portfolios is a crucial growth engine for the area. The significant number of generic manufacturers in the Asia-Pacific region is predicted to drive the market throughout the forecast period. In addition, the growing elderly population and the expansion of healthcare infrastructure would boost the market's growth rate in this region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The oncology biosimilars market report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Oncology Biosimilars Market segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content


Report

Company Profile

  • Biocoin
  • Celltrion inc.
  • Reddy’s Laboratories Ltd.
  • Intas Pharmaceuticals Ltd.
  • STADA Arzneimittel AG
  • Pfizer inc.
  • Apotex inc.
  • Teva Pharmaceutical Industries Ltd.
  • Sandoz International GmbH
  • BIOCAD
  • Amgen
  • Hospira

Description

The oncology biosimilars market is valued at USD 3.5 billion in 2021 and is poised to grow at a significant CAGR of 30.0% over 2022–2028. According to the World Health Organization (WHO), cancer is one of the second most important causes of death worldwide. According to WHO figures, 9.6 million people died from cancer in 2018. These figures emphasize the importance of reducing cancer-related fatalities. The growth of the oncology biosimilars market has been fueled by an increase in cancer cases such as lung cancer and breast cancer, a vulnerable aging population, and increasing research and development activities by multiple pharmaceutical companies. The Biosimilars are biological medications demonstrated to be highly similar to the original drug in terms of potency, safety, and purity. Oncology biosimilars are used to treat a variety of cancers and symptoms as therapeutic, diagnostic, or preventive agents. The oncology biosimilars are the first choice for many cancer patients, resulting in a faster growth rate. Pharmaceutical companies are capitalizing on the expanding biosimilar market’s growth potential by investing in their research and development (R&D) operations to support the development and production of new biosimilars. For example, Coherus and Junshi Biosciences announced a partnership in February 2021 in which Coherus would in-license toripalimab, an anti-PD-1 antibody, in the United States and Canada. Coherus intends to use cash from its commercial biosimilar company to develop a top immuno-oncology franchise. In addition, Biocon, India’s largest biotechnology business, invested in Pfizer Healthcare’s assets to establish an R&D facility to accelerate biosimilar development. Moreover, FDA has approved Oncology biosimilars in large numbers, a trend that is expected to continue in the future years. The FDA approved two significant biosimilars: filgrastim-sndz (Zarxio) and bevacizumab-awwb (Mvasi). The impact of the increasing approval rate on market maturity will be intriguing to watch. Approaching patent expirations of branded biologics and increased research and development (R&D) activity by biosimilar manufacturers are some of the critical growth-inducing factors for the market.

Recent Market Developments:

In December 2020, Amgen received United States Food and Drug Administration (USFDA) approval for RIABNI (rituximab-arrx). RIABNI (rituximab-arrx) is a biosimilar to rituximab used to treat adult patients suffering from non-Hodgkin’s lymphoma, chronic lymphocytic leukemia, Wegener’s granulomatosis, and microscopic polyangiitis (MPA).

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