Demand for Fusion Protein Biosimilars is increasing for the Treatment of Cancer: Fact MR

Increasing approvals and government initiatives are encouraging biosimilar drugs production and are creating opportunities for growth in the fusion protein biosimilar market

The global fusion protein biosimilar market is exhibiting steady growth due to increasing investment in research and development initiatives. Besides this, increasing applications of fusion protein biosimilar for treatment of various diseases will result in significant growth of the market.

According to Globocan, more than 19,292,789 cases of cancer were reported in the year 2020. Around 9,958,133 deaths were recorded in the year 2020 due to cancers. Cancer is estimated to hold the highest share in the fusion protein biosimilars market on the back of rising incidence registered around the world.

After proven effective against chronic diseases such as cancer, chronic inflammatory diseases, and cardiovascular, the demand for fusion protein biosimilar is expected to surge in the forecasting period.

More than 11 fusion protein drugs have been approved by the Food and Drug Administration (FDA) and several new Fc fusion proteins are in the developing stage. This increasing approval of novel new biosimilar drugs has presented a lucrative growth opportunity for the fusion proteins drugs market.

“To strengthen their footprint in the global market, key manufactures have increased their focus on the developing of more effective biosimilars drugs. Besides this, new product launches and collaboration with other companies will assist them to expand their regional presence and existing product portfolio,” says the Fact.MR analyst.

Request a report sample to gain comprehensive insights at  https://www.factmr.com/connectus/sample?flag=S&rep_id=5690

Key Takeaways

  • In Europe, the U.K. dominates the fusion protein biosimilars market owing to the presence of a well-defined regulatory framework.
  • Increasing approval of new biosimilar drugs is driving the growth in the U.S.
  • Due to the increasing industrial biologic development and ongoing improvement in the regulatory environment, the demand for fusion protein biosimilar is expected to surge in developed economies.
  • Owing to the increasing prevalence of chronic diseases and the rapidly expanding healthcare infrastructure, Asia Pacific has emerged as the fastest-growing fusion protein biosimilars market

Key Drivers

  • Surging incidence of chronic diseases will propel the demand for fusion protein biosimilars globally.
  • Favorable regulatory scenarios and expansion of the healthcare infrastructure are driving the biosimilars market.
  • Growing number of approvals and product launches will fuel the growth of the market.

Key Restraints

  • The side effects associated with prescribed drugs are hindering the demand for fusion protein biosimilars.
  • Strict regulatory approvals is the factor restraining the growth of the fusion protein biosimilars market.

Competitive Landscape

Prominent players in the market include Pfizer Inc., Eli Lilly and Company, Sandoz International GmbH, F. Hoffmann-La Roche Ltd., AbbVie Inc., Dr. Reddy’s Laboratories Ltd., Samsung Bioepis, Teva Pharmaceutical Industries Ltd., Mylan N.V., Novartis AG, Fresenius Kabi AG, STADA Arzneimittel AG, Celltrion Healthcare Co.Ltd., Thermo Fisher Scientific Inc., Daiichi Sankyo Co Ltd., Aurobindo Pharma, Absolute Antibody, and Bioverativ Therapeutics Inc. Key players are acquiring and collaborating with other companies to gain maximum revenue share and expand their regional presence. For instance,

  • SOTIO had acquired Cytune Pharma to allow the company the usage of Cytune’s SO-C101 in 2018.
  • In January 2020, Coherus BioSciences, Inc. entered into a licensing agreement with Innovent Biologics, (Suzhou) Co., Ltd

Get Customization on this Report for Specific Country https://www.factmr.com/connectus/sample?flag=RC&rep_id=5690

More Insights on the Fusion Protein Biosimilars Market

Fact.MR has published unbiased analysis of the fusion protein biosimilars market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (cytokines recombinant protein, immunoglobin (Ig) fusion protein, parathyroid hormone (PTPH) fusion protein), application (cancer, HIV-AIDS, respiratory disease, cardiovascular disorder, and ophthalmology)
end user (hospitals and Research institutes), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).

Explore Fact.MR’s Coverage on the Healthcare Domain

Recombinant Protein Market: Fact.MR gives a detailed assessment of cancer therapeutics market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the market along with their product portfolios enhances the reliability of this comprehensive research study. 

 Antibodies Market: Fact. MR’s extensive coverage on recombinant protein market offers in-depth insights about the prominent growth dynamics that are likely to aid expansion of growth prospects in the near future. Data has been presented in the form of key segments across prominent geographies, along with important information concerning key manufacturers operating within the industry.

Parathyroid hormone Market: Fact.MR’s expansive parathyroid hormone market report sheds light on the prominent dynamics expected to shape future growth. The study explicates on the prominent drivers, opportunities and trends prevailing across key segments in prominent end users. Also, information regarding prominent key players has been embedded in the report.

 About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.   

Contact:

Mahendra Singh

US Sales Office:

11140 Rockville Pike

Suite 400

Rockville, MD 20852

United States

Tel: +1 (628) 251-1583

E: sales@factmr.com

Follow Us: LinkedIn | Twitter

Source: Fact.MR

Back to news