Fact.MR – A Market research and competitive intelligence provider: The global oncology biosimilars market is projected to expand at a market size at a CAGR of 29.4% by 2025 end.
Rising Prevalence of Various Types of Cancers Worldwide to Augment the Demand for Oncology Biosimilar Drugs
The Fact.MR market study on the Oncology Biosimilars Market provides deep dive into key developments in the Oncology Biosimilars Market. The report offers a comprehensive analysis of leading segments in terms of disease indication, by drugs class, by distribution channel and region.
Fact.MR – A Market research and competitive intelligence provider: The global oncology biosimilars market is projected to expand at a market size at a CAGR of 29.4% by 2025 end. Cancer is attributed as the second leading cause of inevitability across the world. According to the World Health Organization, an estimated 9.6 million deaths occurred in 2018. Naturally, pharmaceutical companies have boosted cancer treatment drugs production to provide to such a large pool of patients.
Since blockbuster biologic drugs are quite expensive, the stage is set for the listing of biosimilar and generic drugs.
The ongoing COVID-19 pandemic, however, is slated to obstruct the progress in the short run. Supply shortages, owing to nationwide lockdowns across emerging economies, are anticipated to occur. Likewise, the shifted focus of healthcare providers to care for COVID-19 patients is poised to delay the estimation and uptake of biosimilar drugs.
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In 2018, the FDA certify the use of filgrastim-aafi manufactured by Pfizer, for treating neutropenia among patients who have experienced blood cancer treatment
The ongoing COVID-19 pandemic has brought the world to a standstill. With business operations getting suspended, industries are facing supply chain disruptions and a following demand-supply gap. With regard to oncology biosimilars, the market is expected to register a decline in the short run. This is attributed to the shifting priorities of healthcare providers towards addressing patients with acute COVID-19 infections.
Delays in clinical trials are predicted, owing to this, which will eventually delay product launches. Fortunately, providers are looking for options to compensate for the extra expenses they are experiencing at the present moment. It will become more important than ever for biosimilars to deliver on their promise of bringing savings to the healthcare system.
Key takeaways:
- The North American oncology biosimilars market is set to expand market size at a CAGR of 32.0%, capturing over a quarter of the market.
- The Asia-Pacific oncology biosimilars market expanded the market size at a CAGR of 30.7%. Also, poised to capture more than one-third of the overall market.
- By disease indication, the blood cancer segment and neutropenia segment are projected to expand market size at 33.0% and 29.6% respectively during the forecast period. The blood cancers segment is anticipated to capture more than 1/5th of the total oncology biosimilars market share.
- By drug class, the granulocyte-colony stimulating factor (G-CSF) category shall eminent the oncology biosimilars market, capturing more than 3/5th of the total market share.
- By end-user, hospital pharmacies shall expand the market size at a CAGR of 29.5%.
Growth Drivers:
- The demand for oncology biosimilar drugs has augmented in recent years and is attributed to the rising prevalence of various types of cancers across the world.
- Expiration of patented blockbuster biologics has paved way for increased usage of biosimilar products in the disease indication segment of the oncology biosimilars market.
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Competitive Landscape:
The competitive landscape of the Oncology Biosimilars Market focuses on anti-cancer drugs in the pipeline are quite expensive, thus rendering them unaffordable to people in lower and middle-income countries.
- The global oncology biosimilars market consists of the following market players: Celltrion, Inc., Dr. Reddy’s Laboratories Ltd., Biocon, Teva Pharmaceutical Industries Ltd., and Sandoz International GmBh. This makes it a highly consolidated market. Collectively, these market players account for more than 70% of the market share.
- Biocon, for instance, announced an exclusive global collaboration with Sandoz on next-generation biosimilars in 2018. Likewise, Dr. Reddy’s collaborated with TR Pharm to launch three biosimilars in Turkey in 2016.
Key Companies Profiled by Fact.MR
- Celltrion Inc.
- Dr. Reddy’s Laboratories Ltd.
- Biocon
- Teva Pharmaceutical Industries Ltd.
- Sandoz International GmBh.
- Pfizer Inc.
- Celltrion Inc.
- Sandoz International GmBh
More valuable insights on the Oncology Biosimilars Market:
Fact.MR, in its report, offers a market analysis of the global Oncology Biosimilars Market the forecast period through 2020 and beyond. This survey reveals the growth of sports in the Oncology Biosimilar Market with detailed segmentation as follows:
Drug Class
- G-CSF
- Monoclonal Antibody
- Hematopoietic Agents
Disease Indication
- Breast Cancer
- Non-Small Cell Lung Cancer
- Colorectal Cancer
- Neutropenia
- Blood Cancer
- Leukemia
- Myeloid Leukemia
- Chronic Lymphocytic Leukemia (CLL)
- Non-Hodgkin Lymphoma
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Key Questions covered in the Oncology Biosimilars Market Report
- The report offers insight into oncology biosimilars demand outlook for 2020-2025
- The market study also highlights projected sales growth for the oncology biosimilars market between 2020 and 2025
- Oncology biosimilars market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Oncology biosimilars market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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