Oncology Biosimilar Market by Cancer Type (Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, and Others), By Drug Type (mAb, Immunomodulators, Hematopoietic Agents, G-CSF, and Others), By Distribution Channel (Retail Pharmacies, Hospital Pharmacy, and Online Pharmacy): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Global oncology biosimilar market expected to generate revenue of around USD 13,993.64 million by end of 2024, growing at a CAGR of around 26.8% between 2018 and 2024. Biosimilar is the identical copy of oncology biologics used for the treatment of cancer and officially approved for the treatment of cancer.

12-Jul-2018 | Number of pages: 110 | Report Code: ZMR-3228 | Report Format : | Status : Published

Analysis

Biosimilar is a biological medical product which is an identical copy of the original product manufactured by the companies. Biosimilar is the approved version of innovative products and can only be manufactured after the patent expiry of the original product. Oncology biosimilar is different as compared to the biologics in terms of complexity and manufacturing process. The biosimilar is much cheaper as compared to branded and approved products which are available in the market. There are several biologics available in the market for oncology which is on its way of patent expiry. Patent expiry of branded biologics will increase the biosimilar market. Biosimilar can be used for the treatment of various types of cancer such as lung cancer, kidney cancer, and others which are expected to open the gates of opportunities for the biosimilar market in the near future.

One of the major factors driving the oncology biosimilar market is the increasing demand for affordable therapies due to the constant increase in cancer patients worldwide. Various pharmaceutical companies are involved in the development of oncology biosimilar and generic medicines for the treatment of cancer at all stages and early detection of cancer. Due to the high demand for the cancer treatment, there is a rapid rate of approval observed in past few years which are expected to drive the oncology biosimilar market. The first biosimilar was approved in 2006 in Europe, and in the U.S. first biosimilar was approved in 2015 after the approval of first biosimilar FDA has approved five biosimilars in 2017. There is a number of applications pending for the approval of oncology biosimilar and their approval in future are expected to support the growth of oncology biosimilar market.

Global Oncology Biosimilar Market

Based on cancer type, oncology biosimilar market is segmented into breast cancer, colorectal cancer, blood cancer, neutropenia cancer, non-small cell lung cancer and others. On the basis of drug type, oncology biosimilar market is segmented into mAb, immunomodulators, hematopoietic agents, G-CSF, and others. G-CSF segment is expected to grow at the fastest rate during the forecast period. Based on the distribution channel, oncology biosimilar market is segmented into retail pharmacies, hospital pharmacy, and online pharmacy. Hospital pharmacy segment is expected to grow at the fastest rate during the forecast period.

North America is expected to remain the dominant region over the forecast period which is closely followed by Europe. Due to the increased patent expiration and FDA approval of the new drugs the oncology biosimilar market is anticipated to grow rapidly over the forecast period. The Asia Pacific is expected to experience significant growth over the forecast period due to the increase in strategic collaboration in this region. Latin America and the Middle East & Africa are expected to experience a considerable growth over the forecast period. All the above-mentioned factors are responsible for the growth of oncology biosimilar market over the forecast period.

Some of the key players of the oncology biosimilar market include Teva Pharmaceutical Industries Ltd., Biocon, STADA Arzneimittel AG, Sandoz International GmbH, Intas Pharmaceuticals Ltd., Celltrion Inc., Pfizer Inc., Apotex Inc., Dr. Reddy’s Laboratories Ltd., and BIOCAD, among others.


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