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Oncology Biosimilar Market Size is projected to reach USD 15.62 billion by 2031, growing at a CAGR of 20.5%: Straits Research
New York, United States, Nov. 23, 2022 (GLOBE NEWSWIRE) — A biosimilar is a generic version of a well-known biologic drug. Biologic drugs are medicines made from living things like cells, tissues, or proteins. A biosimilar drug is one that has been researched, developed, clinically tested for safety and efficacy, and approved by the U.S. Food and Drug Administration. It is based on a biologic drug that has already been studied, produced, and approved by FDA. Biologic drugs are frequently referred to as reference drugs because the biosimilar is based on the approved biologic drug. Biosimilars perform the same tasks as their reference counterparts and are subject to FDA approval. Oncology biosimilar target particular proteins to stop the growth of cancer cells, help the body make more blood cells to replace those lost during other cancer treatments, and improve the body’s immune system’s capacity to identify and eliminate cancer cells.
Increasing Cancer Rates Drive the Market
Cancer develops when normal cells go through a multi-stage process that progresses from a precancerous lesion to a malignant tumor. Aside from general risk accumulation, aging people have less efficient cellular repair mechanisms. Cancer risk is rising due to smoking, drinking alcohol, an unhealthy diet, a sedentary lifestyle, and air pollution. Some chronic infections can be cancer risk factors; low- and middle-income countries are particularly vulnerable. Helicobacter pylori, human papillomavirus (HPV), hepatitis B, hepatitis C, and Epstein-Barr virus were linked to 13% of cancer diagnoses worldwide in 2018. Due to an unhealthy lifestyle, cancer kills approximately 40% of people in developing countries and the middle class. Furthermore, in 2018, lung, liver, stomach, colorectal, and prostate cancers were the five cancer types that killed more men than any other cancer type worldwide.
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Development of Biologics gives Opportunity for Exponential Growth
The advancement of biologics drugs derived from living organisms is encouraging the utilization of biosimilars, a less expensive alternative for biologics with comparable efficacy. Pharmaceutical companies’ priorities are rapidly shifting toward developing competitive biosimilar drugs and novel biologics. The shift to biologics has resulted from a sharp decline in the rate of innovation in the field of small molecules, which has traditionally been the focus of pharmaceutical companies. Furthermore, increased research and development (R&D) activities have improved the success rates of clinical trials and new product launches. For example, the FDA approved Amneal Pharmaceuticals, Inc.’s Biologics License Application (BLA) for bevacizumab-maly, a biosimilar to the Roche/Genentech drug Avastin, in April 2022.
Report Scope
| Report Metric | Details |
| Market Size | USD 15.62 Billion by 2031 |
| CAGR | 20.5% (2023-2031) |
| Historical Data | 2020-2021 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types of Cancer, Drug Type, Distribution Channel |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Teva Pharmaceutical Industries Ltd., Biocon, STADA Arzneimittel AG, Sandoz International GmbH, Intas Pharmaceuticals Ltd., Celltrion Inc., Pfizer Inc., Apotex Inc., Dr. Reddy’s Laboratories Ltd., and BIOCAD |
| Key Market Opportunities | Development of Biologics |
| Key Market Drivers | Growing Prevalence of Cancer Cost Effectiveness of Oncology Biosimilar Drugs |
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Regional Analysis
North America is the most significant shareholder in the global oncology biosimilar market and is expected to grow at a CAGR of 19.7% during the forecast period. The substantial share is due to the rising cancer rate in the USA, which is brought on by changing lifestyles, rising obesity, rising alcohol consumption, and rising smoking rates. 2019 saw 1,752,735 new cases of cancer reported, and 599,589 people died from the disease. Of every 100,000 people, 439 cases of cancer were reported, out of which 146 people passed away. The FDA has demonstrated a commitment to helping the U.S. develop and maintain a healthy biosimilar market that fosters competition between original biologics and biosimilars on an even playing field. To protect patient safety and preserve the confidence of payers and providers, current U.S. regulatory requirements for developing and approving biosimilars and determining interchangeability are stringent and scientifically sound.
The market for oncology biosimilars in Europe is predicted to expand significantly. Some of the factors anticipated to support the market growth in the area include the rising prevalence of breast cancer in the U.K. and the registration of over 55,000 breast cancer cases each year in the U.K. and roughly 4,700 in Scotland. The oncology biosimilar market is expanding due to increased breast cancer cases brought on by unhealthy lifestyle choices like less physical activity, higher alcohol consumption, and obesity. Similar to how 350 men in the U.K. receive cancer diagnoses each year, which is fueling the market’s expansion.
During the forecast period of 2023–2031, the oncology biosimilar market in Asia Pacific is anticipated to grow the fastest. Due to unhealthy lifestyles and rising obesity, which has increased demand for the oncology biosimilar market, breast cancer is widely prevalent in Asian countries. In addition, the World Health Organization (WHO) Cancer Report states that in India, the most common cancers in men are lung, oral, lip, throat, and neck cancers. At the same time, women are more likely than men to develop cervix, breast, and ovarian cancers. Along with this, rising smoking rates in China’s elderly population contribute to an increase in the prevalence of cancers like kidney, intestine, and prostate cancer.
Due to its underdeveloped healthcare infrastructure, LAMEA is anticipated to grow steadily. The pace of cancer treatment in this region is being slowed by a lack of knowledge about healthy living. In the Middle East and Africa, expanding government healthcare initiatives and bettering healthcare infrastructure are helping the market expand. A University of Sharjah study found that the UAE has a five-fold higher risk of young adults developing cancer than the U.K., USA, China, India, and Canada.
Key Highlights
- The global oncology biosimilar market size was valued at USD 7.31 billion in 2022. It is projected to reach USD 47.15 billion by 2031, growing at a CAGR of 23% during the forecast period (2023-2031).
- Based on types of cancer, the global oncology biosimilar market is bifurcated into breast cancer, colorectal cancer, blood cancer, neutropenia cancer, and non-small cell lung cancer. The breast cancer is the highest contributor to the market and is expected to grow at a CAGR of 21.7% during the forecast.
- Based on drug type, the global oncology biosimilar market is bifurcated into mAb, immunomodulators, hematopoietic agents, and G-CSF. The G-CSF segment is the highest contributor to the market and is expected to grow at a CAGR of 19.3% during the forecast period.
- Based on distribution channel, the global oncology biosimilar market is bifurcated into retail pharmacies, hospital pharmacies, and online retailers. The hospital pharmacy segment is the highest contributor to the market and is expected to grow at a CAGR of 20.5% during the forecast period.
- North America is the most significant shareholder in the global oncology biosimilar market and is expected to grow at a CAGR of 19.7% during the forecast period.
The global oncology biosimilar market’s major key players are
- Teva Pharmaceutical Industries Ltd.
- Biocon
- STADA Arzneimittel AG
- Sandoz International GmbH
- Intas Pharmaceuticals Ltd.
- Celltrion Inc
- Pfizer Inc
- Apotex Inc
- Dr. Reddy’s Laboratories Ltd
- BIOCAD
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Global Oncology Biosimilar Market: Segmentation
By Types of Cancer
- Breast Cancer
- Colorectal Cancer
- Blood Cancer
- Neutropenia Cancer
- Non-Small Cell Lung Cancer
By Drug Type
- mAb
- Immunomodulators
- Hematopoietic Agents
- G-CSF
By Distribution Channel
- Retail Pharmacies
- Pharmacies
- Online Retailers
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Oncology Biosimilar Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Drug Type Overview
- Introduction
- Market Size & Forecast
- mAb
- Market Size & Forecast
- Immunomodulators
- Market Size & Forecast
- Introduction
- Types of Cancer Overview
- Introduction
- Market Size & Forecast
- Breast Cancer
- Market Size & Forecast
- Blood Cancer
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Drug Type
- By Types of Cancer
- Canada
- By Drug Type
- By Types of Cancer
- Mexico
- By Drug Type
- By Types of Cancer
- Latin America
- By Drug Type
- By Types of Cancer
- Europe
- Market Size & Forecast
- Germany
- By Drug Type
- By Types of Cancer
- France
- By Drug Type
- By Types of Cancer
- U.K.
- By Drug Type
- By Types of Cancer
- Italy
- By Drug Type
- By Types of Cancer
- Spain
- By Drug Type
- By Types of Cancer
- Rest of Europe
- By Drug Type
- By Types of Cancer
- Asia Pacific
- Market Size & Forecast
- Japan
- By Drug Type
- By Types of Cancer
- China
- By Drug Type
- By Types of Cancer
- Australia
- By Drug Type
- By Types of Cancer
- India
- By Drug Type
- By Types of Cancer
- South Korea
- By Drug Type
- By Types of Cancer
- Rest of Asia-Pacific
- By Drug Type
- By Types of Cancer
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Drug Type
- By Types of Cancer
- South Africa
- By Drug Type
- By Types of Cancer
- Kuwait
- By Drug Type
- By Types of Cancer
- Rest of Middle East & Africa
- By Drug Type
- By Types of Cancer
- Introduction
- Company Profile
- Teva Pharmaceutical Industries Ltd
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Biocon
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- STADA Arzneimittel AG
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Teva Pharmaceutical Industries Ltd
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/oncology-biosimilar-market/toc
Market News:
- In May 2022, Biocon Biologics and Viatris has launched abevmy (bBevacizumab), which is their third oncology biosimilar now available in Canada.
- In September 2022, Celltrion USA gets U.S. FDA approval for treating 6 types of cancer with its oncology biosimilar vegzelma (bevacizumab-adcd)
News Media
Biosimilar in Cancer Care: Challenges and Opportunities for Development of New Biosimilar Drug
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Artificial Intelligence
Global Methane Hub Announces the Enteric Fermentation Research & Development Accelerator, a $200M Agricultural Methane Mitigation Funding Initiative
The Largest-Ever Globally Coordinated Funding Investment in Livestock Methane Mitigation Research Announced at the COP28 Business & Philanthropy Climate Forum
The public, private and philanthropic partnership includes Bezos Earth Fund, Quadrature Climate Fund, Gerstner Philanthropies, High Tide Foundation, Bill & Melinda Gates Foundation, The Zegar Family Foundation, Danone and more
DUBAI, UAE, Dec. 2, 2023 /PRNewswire/ — Today, at COP28, the Global Methane Hub (GMH) announced a more than $200 million funding initiative between public, private and philanthropic partners including the Bezos Earth Fund, Quadrature Climate Fund, Gerstner Philanthropies, High Tide Foundation, Bill & Melinda Gates Foundation, The Zegar Family Foundation, Danone, the Governments of Ireland, New Zealand and the United States, for research and development (R&D) technologies to meaningfully address and reduce methane emissions from livestock.
The Enteric Fermentation R&D Accelerator, or Accelerator, is the largest-ever, globally coordinated investment of breakthrough research tackling livestock methane emissions. The Global Methane Hub announced the intention to establish the Accelerator at COP27 as an AIM for Climate Innovation Sprint. The Accelerator will unite funders, guided by a science oversight committee, to invest in a globally coordinated research plan. This strategy aims to address gaps in current research and enhance existing efforts. The strategy includes work on exploring new and alternate livestock feed additives, tools to breed low-methane livestock, immunological studies for a methane vaccine, understanding the organisms in the rumen and their functions, and lowering the costs of measurement, essential to generate evidence for regulatory approval and validation of mitigation technologies.
About 40% of the world’s methane emissions come from agriculture, and 70% of that is due to enteric fermentation. This process happens in cows’ digestive systems when sugars are broken down into methane and released through belching. Unfortunately, current research on enteric fermentation is not extensive or coordinated enough to provide efficient and transformative solutions to significantly benefit farmers.
This is the latest milestone to mark the impact GMH is having on global methane reduction efforts since its founding in December 2021.
“The Accelerator is a prime example of the role philanthropy can play in driving substantive climate action and strategically aligning the key players working to solve the most pressing issue of our time,” said Hayden Montgomery, Agriculture Program Director at the Global Methane Hub. “With this effort to synchronize and consolidate public-good research on enteric methane, we aim to make multiple solutions to reduce enteric methane available quickly and provide proof of the efficacy of livestock mitigation technologies.”
“We know that cattle are responsible for most agricultural methane emissions. Promising technological and scientific solutions exist, but for too long, monetary and regulatory barriers have slowed progress and prevented critical research,” said Andy Jarvis, Director of Future of Food at the Bezos Earth Fund. “The Global Methane Hub’s Enteric Methane R&D Accelerator stands to change all of this, unlocking the resources needed to discover and develop low-cost solutions that will dramatically reduce methane emissions from livestock by 2030.”
“Through the Accelerator, we are poised to make a significant impact in driving innovation towards solutions to reduce enteric methane globally,” said Richard Lawrence, director and co-founder of High Tide Foundation. “I would like to thank Danone for stepping up as the first corporation committed to the Accelerator and I encourage others to do the same.”
“As a dairy company, curbing methane emissions is the fastest and most impactful way to slow down global warming,” said Olivier Verdelet, Vice-President Agriculture Cycle at Danone. “To do so, collaboration will be instrumental as we seek for new solutions, speed and sizable impacts. We are eager to collaborate with the Global Methane Hub and other partners to accelerate and test scalable innovations in the field. We believe this will help us build a sustainable, future-fit dairy category that is at the core of our mission to bring health through food to as many people as possible.”
Agricultural methane is projected to increase 40% by 2050. We would have to reduce emissions by 50% in order to meet the accords of the Paris Agreement to keep the global temperature rise to a maximum of 1.5 degrees Celsius. Reducing methane emissions from all sectors, including agriculture, is the fastest way to mitigate climate change.
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Artificial Intelligence
Digital Printing for Tableware Market worth $452 million by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 1, 2023 /PRNewswire/ — The Digital Printing for Tableware market is projected to reach USD 452 million by 2029 from USD 326 million in 2024; it is expected to grow at a CAGR of 6.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. Heightened interest in sustainable printing practices, escalating needs within the foodservice sector, swift advancements in digital printing technology, and the accelerated prototyping and assessment of novel designs within the tableware industry are poised to propel the expansion of the Digital Printing for Tableware market.
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Browse in-depth TOC on “Digital Printing for Tableware Market”
140 – Tables60 – Figures240 – Pages
Digital Printing for Tableware Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 326 million
Estimated Value by 2029
$ 452 million
Growth Rate
Poised to grow at a CAGR of 6.8%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Application, Ink type and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Compatibility with limited materials
Key Market Opportunities
Increasing demand from the in-plant market
Key Market Drivers
Rapid technological advancements in digital printers
This market exhibits a promising growth trajectory, buoyed by prospects like escalating demand from the in-plant market, substantial investment in digital printing-centric research and development endeavors, and the consequent decrease in per-unit printing costs facilitated by digital printers.
The Ceramic and porcelain application segment is expected to hold the largest market share of the digital printing for tableware market during the forecast period.
In 2023, the Ceramic and porcelain segment held the largest market share, and this pattern is expected to persist in the forecast period. Cutting edge ceramic digital printing technology for the tableware industry is expected to revolutionize the tableware industry during the forecast period. While digital printing for porcelain tableware combines precision and versatility allowing intricate designs to enable growth of the market. Digital printing for ceramic and porcelain tableware products involves the use of advanced printing technology to apply intricate and high-quality designs directly onto ceramic and porcelain surfaces. This modern printing method has become increasingly popular in the tableware industry due to its ability to offer customization, detailed graphics, and efficient production processes.
The UV Ink segment is expected to hold the largest market share of the digital printing for tableware market during the forecast period.
The use of UV ink in digital printing for the tableware industry is driven by its unique properties and advantages that cater to the specific requirements of decorating and customizing various tableware items, such as ceramics and porcelain. It offers rapid curing, color vibrancy, versatility in design, customization capabilities, durability, efficiency in production, and reduction in waste. Because of such advantages over other inks like ceramic ink, and solvent based ink, the UV ink type is expected to hold the largest market share.
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The North American region is expected to hold the largest market share during the forecast period.
During the forecast period, North America region is poised to experience the most significant growth in the digital printing for tableware market. The surge in consumer appetite for personalized tableware due to digital printing capabilities to deliver unique designs is expected to drive the market growth in the North American region. Also, presence of major companies such as Electronics for Imaging, Inc., Inkcups Now, Boston Industrial Solutions, Inc., and INX International Ink Co., in the North American region enables research and development activities in digital printing technologies benefitting the tableware industry owing to increase in the demand for customization of tableware products across the region.
Key Players Market
SACMI (Italy), Electronics for Imaging, Inc. (US), Inkcups Now (US), Mimaki Engineering Co., ltd. (Japan), Boston Industrial Solutions, Inc. (US), PROJECTA ENGINEERING S.R.L. (Italy), Engineered Printing Solutions (US), INX International Ink Co. (US), KERAjet (Spain), and Dip-Tech Digital Printing Technologies Ltd. (Israel) are key players in the digital printing for tableware companies.
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Leading global solutions provider showcases new product support for Oracle cloud backup and recovery operations and achieves AWS Level 1 MSSP Competency
MONTREAL, Dec. 1, 2023 /PRNewswire/ — Syntax Systems, a leading global technology solutions and services provider for cloud application implementation and management, announced Syntax CxLink Backup solution for Oracle databases at AWS re:Invent 2023. This is a strategic enhancement to its suite of solutions that now supports the Oracle Recovery Manager (RMAN). CxLink Backup addresses a critical need for enterprise customers running Oracle databases, including SAP customers, as Oracle Database underpins more than 60% of SAP ERP Central Component customer implementations and RMAN integration options are limited.
Enterprise teams managing multiple clouds and stores of data, each with their own routine for proper storage, now have access to a cutting-edge tool to simplify backup and recovery processes as well as disaster recovery strategies. With CxLink Backup, customers now have access to several impactful functions that Oracle Recovery Manager fulfills:
Spares users the complexity of managing backup file details because it’s a module that streamlines and automates backup and recovery.Supports various backup types like full, incremental, differential, and image copies.Enhances backup efficiency and minimizes size with features like compression, parallel processing, and multisection.Ensures data security and reliability through validation, encryption, and cataloging of backups, as well as the ability to rectify corruption or errors.Offers flexible data restoration, including options like flashback, point-in-time recovery, and incomplete recovery, which allows recovery to any specific moment.”In today’s fast-paced digital world, backups are critical for enterprise applications,” said Ricardo Casanovas Ortega, VP of Product Innovation at Syntax. “Many enterprise teams are managing these processes from disparate sources and tools. Our latest features for CxLink Backup, unify and automate recovery processes, giving users a powerful tool that enhances reliability while minimizing complexity.”
In addition to revealing new capabilities in its CxLink solution, Syntax also announced its achievement of the Amazon Web Services (AWS) Level 1 Managed Security Service Provider (MSSP) Competency and renewed its status in the AWS Managed Service Provider (MSP) Partner Program. These designations recognize and validate leading AWS Partner Network (APN) members that provide full lifecycle solutions to customers and who have met AWS’s requirements for a baseline of managed security services to protect and monitor essential AWS resources 24/7, known as Level 1 Managed Security Services.
“Syntax is very proud to now be part of the elite AWS Partners who have achieved the AWS Level 1 MSSP Competency,” said Christian Primeau, Global CEO of Syntax. “Our strategy is 3-pronged: operate-to-protect, monitor-to-respond and built-to-recover. We are focused on ensuring the integrity of applications running on AWS and the data they store and process. Achieving this AWS Competency designation is recognition of the work the Syntax team delivers and our growing relationship with AWS, which adds value across our entire portfolio.”
The Syntax portfolio offers a wide range of AWS solutions as an AWS Premier Tier Services Partner. Syntax previously achieved the AWS SAP Competency, AWS Oracle Competency, and AWS Migration Competency, and AWS MSP Partner designations and is a member of the AWS Well-Architected Partner Program.
About Syntax Syntax provides comprehensive technology solutions and trusted professional, advisory, and application management services to power businesses’ mission-critical applications in the cloud. With 50 years of experience and 800+ customers around the world, Syntax has deep expertise in implementing and managing multi-ERP deployments in secure private, public, hybrid, or multi-cloud environments. Syntax partners with SAP, Oracle, JD Edwards, AWS, Microsoft, and other global technology leaders to ensure customers’ applications are seamless, secure, and at the forefront of enterprise technology innovation. Learn more about Syntax at www.syntax.com.
Contact:Walker Sands for [email protected]
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