Oncology biosimilars are cost-effective counterparts of the already licensed reference biologics. They are similar in terms of quality, safety and efficiency to their branded counterparts, and are widely being used in cancer treatment. Biological therapies are large, highly complex molecules derived from living cells or organisms. The extensive research involved in the development of originator drugs, coupled with aggressive marketing and promotion by the manufacturer, leads to high costs. Since biosimilars only require such studies to ensure equivalence of efficacy and safety profiles, they incur lower manufacturing costs, which in turn help in reducing treatment expenses.
The latest report by IMARC Group, titled “Oncology Biosimilars Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, finds that the global oncology biosimilars market size exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global oncology biosimilars market to grow at a CAGR of around 17% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Global Oncology Biosimilars Market Trends:
According to the World Health Organization, cancer resulted in an estimated 9.6 million deaths in 2018, representing the second leading cause of death globally. The rising prevalence of cancer, along with the upcoming patent expiry of several blockbuster oncology drugs, has encouraged pharmaceutical manufacturers to develop biosimilars for use in oncology.
Additionally, several regulatory authorities have also approved biosimilars to offer a safe and affordable alternative to originator biological therapies. These cost-effective biosimilars provide significant savings, better access to treatment, and the potential of improved outcomes. Moreover, several leading manufacturers are entering into partnerships to develop oncology drugs. For instance, Biocon, Asia’s premier biopharmaceutical company, has collaborated with Sandoz, a Novartis division and the global leader in biosimilars, to develop, manufacture and commercialize next-generation biosimilars for patients worldwide to help them gain access to a range of high-quality and affordable oncology biologics.
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Global Oncology Biosimilars Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
- Biocon LTD. (BIOCON.BO)
- Celltrion Inc (CONIF)
- Dr. Reddy’s Laboratories Ltd (RDY)
- Intas Pharmaceuticals Ltd.
- STADA Arzneimittel AG (STDAF)
- Pfizer, Inc. (PFE)
- Apotex Inc.
- Teva Pharmaceutical Industries Ltd.
- Sandoz International GmbH
- BIOCAD Biotechnology Company
- Mylan N.V.
- Hoffmann-La Roche AG.
Market Breakup by Drug Type:
- Monoclonal Antibody
- Hematopoietic Agents
Market Breakup by Cancer Type:
- Lung Cancer
- Colorectal Cancer
- Cervical Cancer
- Breast Cancer
- Kidney Cancer
- Stomach Cancer
- Brain Cancer
Market Breakup by Distribution Channel:
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Market Breakup by Region:
- Asia Pacific
- North America
- The Middle East and Africa
- Latin Americ
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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