Overview and Scope
Oncology biosimilars refer to biologically similar drugs or medications that are physiologically comparable to biologic cancer treatments. Infection risk is increased by decreased white blood cell counts, which can be treated as a side effect of cancer therapy.
Sizing and Forecast
The oncology biosimilars market size has grown exponentially in recent years. It will grow from $6.9 billion in 2023 to $8.85 billion in 2024 at a compound annual growth rate (CAGR) of 28.3%. The growth in the historic period can be attributed to rising prevalence of cancer, patent expirations of biologic cancer drugs, government support for biosimilars, growing investments in biosimilar development and manufacturing, expanding geographical reach of biosimilars.
The oncology biosimilars market size is expected to see exponentially grown in the next few years. It will grow to $16.48 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to expanding oncology biosimilar portfolio, patient-centric care, healthcare cost containment, targeted therapies, expanding pipeline. Major trends in the forecast period include biobetters, oncology biosimilar combinations, supportive care biosimilars, real-world evidence.
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Segmentation & Regional Insights
The oncology biosimilars market covered in this report is segmented –
1) By Drug Type: Monoclonal Antibody, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF)
2) By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types
3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
North America was the largest region in the global oncology biosimilars market in 2023. Middle East is expected to be the fastest-growing region in the oncology biosimilars market report forecast period. The regions covered in the oncology biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The expiration of the patent of biologics used for the treatment of cancer is driving the production of new oncology biosimilars. Biologics can be patented for a limited period and the expiration of patents for biologics allows the development of new biosimilars. Biologics are targeted drugs synthesized from living organisms that induce the immune system to attack cancer cells. Biosimilars are similar to biologics but are not identical and offer the same effectiveness as biologics at a reduced cost. According to the Center for Biosimilars, patents on nearly 20 oncology biologics will expire by 2023, leading to the development of new biosimilars in cancer care. The increased number of patent expiry is expected to boost the demand for the production of new oncology biosimilars, thus, driving the market growth for oncology biosimilars.
Key Industry Players
Major companies operating in the oncology biosimilars market include Biocon Biologics Limited, Celltrion Inc., Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Apotex Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, BIOCAD, Amgen Inc., F. Hoffmann-La Roche, Baxter International Inc., Sanofi SA, Mylan, Samsung Bioepis, Biogen International GmbH, Merck & Co. Inc., Coherus Biosciences, Eli Lilly and Company, Novartis AG, Shanghai Henlius Biotech, Viatris Inc., Catalent Inc., Patheon, Accord Healthcare Ltd., Zydus Cadila Health Care Limited, Hetero Drugs Limited, Mundipharma International Limited, Mabion SA, Polpharma Biologics, Alvotech, Innovent Biologics, Gan & Lee Pharmaceuticals, Henlius Biotech
The oncology biosimilars market report table of contents includes:
1. Executive Summary
2. Oncology Biosimilars Market Characteristics
3. Oncology Biosimilars Market Trends And Strategies
4. Oncology Biosimilars Market – Macro Economic Scenario
5. Global Oncology Biosimilars Market Size and Growth
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31. Global Oncology Biosimilars Market Competitive Benchmarking
32. Global Oncology Biosimilars Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Oncology Biosimilars Market
34. Oncology Biosimilars Market Future Outlook and Potential Analysis
35. Appendix
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