“US Cancer Biosimilar Market Opportunity, Drug Dosage, Price & Clinical Trials Insight 2026" Report highlights.
"US Cancer Biosimilar Market Opportunity, Drug Dosage, Price & Clinical Trials Insight 2026" Report highlights:
- US Cancer Biosimilar Market Opportunity: > US$ 15 Billion By 2026
- Currently 29 Cancer Biosimilar Approved In US Market
- Pricing & Dosage Insight On More Than 10 Cancer Biosimilar Commercially Available In US Market
- Cancer Biosimilar In Clinical Trials: > 10 Biosimilars
- Comprehensive Insight On Cancer Biosimilar Clinical Trials Insight By Company & Indication
- Insight On 15 Potential Cancer Biosimilars Market Opportunity By Popular Drugs Patent Expiry: Erbitux, Vectibix, Yervoy, Trodelvy, Perjeta, Gazyva, Darzlex, Xgeva, Cyramza, Kadcyla, Opdivo, Tagraxofusp, Tecentriq, Keytruda, Imfinzi
The advent of molecular profiling and other advanced diagnostic techniques are changing the way several cancers are identified and treated. During the last few years, there has been a shift in the concept of cancer therapy. Several novel biological drugs have entered the market which is complex molecules that are derived from living organisms, such as yeast, bacteria, or plant or animal cells. Owing to their targeted nature, the emergence of these drugs has shown to significantly enhance patient’s outcomes and restores quality of life of patients, in a way in which conventional therapies cannot. However, these novel drugs come along with hefty price tag, thus creating barrier to their access.
The cost of these therapies has shown to place a substantial burden on US healthcare system. Therefore, the research is mainly inclined towards the development of more cost-effective drugs. The looming patent expiry of the biological drugs opens opportunities for the development of biosimilar drugs. Each biosimilar is highly similar to its FDA approved reference product in terms of efficacy, safety, and quality without being identical to it. Although the biosimilars have slightly different structure, they offer similar treatment approach, dosage, and mechanism of action. However, the biosimilar drugs are often less costly than branded drug, making them more accessible to patients.
As of now, US has 30 biosimilar approved, among which 10 belongs to oncology sector. The US cancer biosimilar market is mainly crowded by three drugs namely Avastin, Herceptin and Rituximab. In recent times, the US cancer biosimilar market has witnessed a sharp growth due to the increasing growth opportunities in US which has encouraged research and development activities in this sector. US are currently holding the topmost position in the market and are expected to dominate the market for new few years mainly due to increase in awareness about the potential of the biosimilars.
The looming patent expiry of the blockbuster drugs encourages competition among the pharmaceutical sector which eventually leads to the development of cost effective biosimilar in the market. The major key players in US market are Amgen, Roche, Pfizer, and Teva Pharmaceuticals which continuously indulge themselves in the research and development activities and also invest a significant investment in the oncology sector. As per our report analysis, patent for several blockbuster drugs including Yervoy, Perjeta, Cyramza, Kadcyla, and others are expected to expire in forecast period which will further boost the growth of market.
Despite their potential advantages, the road to successful incorporation of biosimilars into clinical practice has been challenging attributing mainly to formulary consideration, need for efficacy data, concerns with substitution between products, and overall lack of prescriber awareness. Irrespective of restraints in the market, several pharmaceutical giants in US are actively involved in the development of biosimilar drugs owing to their cost potential benefits. The major companies in US biosimilar market are Eli Lilly, Mylan, Roche, Pfizer, AstraZeneca, and Merck.
The US cancer biosimilar market is anticipated to grow with high CAGR rates during the forecast period. The increasing pipeline of products and new product launches increases the market in the region. Apart from this, rising awareness about the chronic diseases, availability of biosimilars and their potential cost-savings is owing to growth of the US cancer biosimilar market. Biosimilar market in the US is considered to be gathering enough attention from the local drug makers as the total investment in the development of any specific cancer biosimilar to less than 50% to what is required for the development of a novel branded drug. As per our report findings, it is analyzed that US cancer biosimilar market is estimated to surpass US$ 15 Billion by 2026.
Contact:
Neeraj Chawla
Research Head
Kuick Research
neeraj@kuickresearch.com
+91-9810410366