Trastuzumab Biosimilars Market Growth Trajectory Through 2024-2033

The Trastuzumab Biosimilars Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Trastuzumab Biosimilars Global Market Report 2024, The trastuzumab biosimilars market size has grown exponentially in recent years. It will grow from $4.27 billion in 2023 to $5.43 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%. The growth in the historic period can be attributed to market expansion and global reach, patent expiry and market entry, rapid biosimilar development, clinical efficacy validation, competitive pricing.

The trastuzumab biosimilars market size is expected to see exponential growth in the next few years. It will grow to $14.69 billion in 2028 at a compound annual growth rate (CAGR) of 28.3%. The growth in the forecast period can be attributed to market competition intensification, biosimilar pipeline development, regulatory approvals and standardizations, global market penetration, physician adoption and prescribing patterns. Major trends in the forecast period include improved access, market segmentation strategies, educational campaigns, patient preference for biosimilars, physician acceptance.

The rising prevalence of breast and gastric cancer contributed to the growth of the trastuzumab biosimilars market. Trastuzumab biosimilar is used in the treatment of human epidermal growth factor receptor 2 (HER2) overexpressing breast cancer and metastatic gastric cancer. For instance, in September 2023, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, about 297,790 new cases of invasive breast cancer will be diagnosed in women in 2023, and about 43,700 women will die from breast cancer in the same year. According to Cancer India, breast cancer is the most common cancer in women in India and accounts for 14% of the cancers in women. Therefore, the rising prevalence of breast and gastric cancer increases the demand for trastuzumab biosimilar that help save money when compared to expensive medicines, thereby driving the trastuzumab biosimilars market.

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The trastuzumab biosimilars market covered in this report is segmented –

1) By Product: Ogivri, Herzuma, Ontruzant, Trazimera, Other Products
2) By Indication: Adjuvant Breast Cancer, Metastatic Breast Cancer, Metastatic Gastric Cancer, Other Indications
3) By Distribution Channel: Hospital Pharmacy, Online Pharmacy

Major players are continuously focusing on launching new products in untapped regions, which is shaping the market for trastuzumab biosimilars. The companies operating in the trastuzumab biosimilars market are undergoing various strategic initiatives, such as new product development, partnerships, and geographical and product portfolio expansion, to maintain their competitive position in the market and better serve the needs of the customers. For instance, in May 2021, Zydus Cadila, an India-based pharmaceutical company, launched the world’s first biosimilar form of trastuzumab, emtansine, an antibody drug compound (trastuzumab) that not only slows the growth of cancer cells but also delivers a cytotoxic substance to the cancer cell, aiding in its destruction. It is used to treat breast cancer that is human epidermal growth factor receptor 2 (HER2) positive, which accounts for 20% to 25% of all breast cancers and is quite aggressive.

The trastuzumab biosimilars market report table of contents includes:

1. Executive Summary
2.Trastuzumab Biosimilars Market Characteristics
3.Trastuzumab Biosimilars Market Trends And Strategies
4.Trastuzumab Biosimilars Market analysis
5.Trastuzumab Biosimilars Market Size And Growth
6.Trastuzumab Biosimilars Segmentation
7.Trastuzumab Biosimilars Regional And Country Analysis
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27.Trastuzumab Biosimilars Competitive Landscape And Company Profiles
28.Trastuzumab Biosimilars Key Mergers And Acquisitions
29.Trastuzumab Biosimilars Future Outlook and Potential Analysis

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