The “Oncology Biosimilars Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, report by IMARC Group offers a detailed analysis of the industry, including oncology biosimilars market growth, share, size, trends, and business forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Oncology Biosimilars Market?
The global oncology biosimilars market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.7 Billion by 2028, exhibiting a growth rate (CAGR) of 21.6% during 2023-2028.
What are Oncology Biosimilars?
Oncology biosimilars represent 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 used in cancer treatment. Biological therapies are large and highly complex molecules that are derived from living cells or organisms. They incur lower manufacturing costs, ensure equivalence of efficacy and safety profiles, and aid in reducing treatment expenses. In addition to this, oncology biosimilars are commonly available via hospital pharmacies, online pharmacies, retail pharmacies, etc., across the globe.
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What are the Growth Prospects and Trends in the Oncology Biosimilars Market?
The growing prevalence of cancer among individuals is among the key factors stimulating the oncology biosimilars market. Moreover, government bodies across countries are also approving these drugs to offer a safe and affordable alternative to originator biological therapies, which is acting as another significant growth-inducing factor. Besides this, the rising usage of these cost-effective biosimilars, as they provide considerable savings, better access to treatment, the potential for improved outcomes, etc., is positively influencing the global market. Additionally, various leading manufacturers are entering into strategic partnerships with pharmaceutical companies to develop oncology drugs, which is propelling the market growth. In line with this, the easy availability of affordable medications that offer enhanced patient access and the upcoming patent expiry of several blockbuster oncology drugs are fueling the global market. Furthermore, extensive investments in R&D activities by key market players, continuous improvements in the healthcare industry, and the expanding geriatric population are anticipated to fuel the oncology biosimilars market over the forecasted period.
Who are the key Players Operating in the Industry?
- Biocon 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 Biotechnology Company
- Mylan N.V.
- F. Hoffmann-La Roche AG
What is included in Market Segmentation?
Breakup by Drug Type:
- Monoclonal Antibody
- Hematopoietic Agents
Breakup by Cancer Type:
- Lung Cancer
- Colorectal Cancer
- Cervical Cancer
- Breast Cancer
- Kidney Cancer
- Stomach Cancer
- Brain Cancer
Breakup by Distribution Channel:
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Who we are:
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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