+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Oncology Biosimilars Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Pre Book Price: $ 5216

Original Price: $ 5795

The global oncology biosimilars market will witness substantial growth over the forecast period and is expected to grow at very impressive CAGR during the forecast period. The increasing need for cost-effective treatment methodologies will aid in the stable growth of this market during the forecast period. The high cost of branded biologic oncological drugs will force patients to shift toward biosimilars as they are highly cost-effective. Since biosimilars cost 10%-30% lesser than their parent counterparts, there is the presence of unmet medical needs for such products. This allows domestic manufacturers to market generic versions of the biologic compounds at a lower price, which in turn results in market growth. 

Cancer represents a massive burden on healthcare systems worldwide due to the high cost of treatment therapeutics. The patent expiry of several cancer therapeutics has allowed the entry of biosimilars, which are being incorporated into oncology treatment practices. Biosimilars are synthesized with the use of biologic components such as monoclonal antibodies, proteins, hormones, nucleic acids, colony stimulating factors, interleukins, and enzymes. The market offers huge growth opportunities for vendors because of the growing incidence of cancer. The clinical pipeline for cancer biosimilars is vast, featuring candidates in different stages of development. Around 30% of all the biosimilars that are awaiting the US FDA’s approval are monoclonal antibodies, including biosimilars of Avastin, MabThera, and Herceptin.

Factors like the arrival of new biosimilars to drive market growth during the forecast period. Unlike generic drugs, which have APIs that are identical to original drugs, biosimilars are similar to their originator biologic compounds. Biosimilars developed by different manufacturers differ from the original product as well as from each other. Since they are less expensive than biologics, patients will be able to afford and access biosimilars more easily than biologics. Rise in number of patent expiries, increase in prevalence of cancer, growing aging population, promising drug pipeline, need for cost-effective treatment, favorable government regulations are some of the key drivers promoting the growth of oncology biosimilars market.

The oncology biosimilars market can be segmented by end-user, by application, and by geography. In terms of application, the oncology biosimilars market is classified into cancer treatment drugs, and supportive care drugs. In the terms of end-user, the oncology biosimilars market is classified into hospitals and retail pharmacies. Retail pharmacies occupy the largest share of 52% in the oncology biosimilars market. Retail pharmacies provide a large customer base for biosimilar drugs. Individuals with cancer require biosimilar drugs for maintenance therapy, which helps to successfully treat and prevent relapse of the disease. These drugs can also be obtained from retail pharmacies for use in hospital settings.

Geographically, oncology biosimilars market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Middle East & Africa was the highest revenue contributing region in the global oncology biosimilars market. Similarly, Asia Pacific expected to witness higher growth in oncology biosimilars market due to increasing cancer prevalence in the countries like India and China. The market will typically witness a higher growth rate in countries such as the Germany, UK, Spain, Italy and France. The biosimilars market in the UK is developed and well-established, and is comparatively easy to enter, making the generic drugs market in the country stronger than in any other EU countries. The growth of this market in the region is attributed to well-defined regulatory guidelines and expiries of biologics that are anticipated to go off-patent during the forecast period.

The Major players reported in the market include Biocon, Amgen, Celltrion, Hospira, Biogen, Mylan, Pfizer, Dr. Reddy's Laboratories, Roche, GlaxoSmithKline (GSK), Merck, Sanofi and Sandoz.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


To receive discount, please click on the button below.

Please click on the button below to customize this report.

 
 
Back To Top