Oncology Biosimilar Market Size is projected to reach USD 15.62 billion by 2031, growing at a CAGR of 20.5%: Straits Research

0
33

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.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/oncology-biosimilar-market/request-sample

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

Buy Now Full Report @ https://straitsresearch.com/buy-now/oncology-biosimilar-market

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

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/oncology-biosimilar-market/request-sample

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

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Oncology Biosimilar Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Drug Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. mAb
      1. Market Size & Forecast
    3. Immunomodulators
      1. Market Size & Forecast
  5. Types of Cancer Overview
    1. Introduction
      1. Market Size & Forecast
    2. Breast Cancer
      1. Market Size & Forecast
    3. Blood Cancer
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Drug Type
        2. By Types of Cancer
      3. Canada
        1. By Drug Type
        2. By Types of Cancer
      4. Mexico
        1. By Drug Type
        2. By Types of Cancer
      5. Latin America
        1. By Drug Type
        2. By Types of Cancer
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Drug Type
        2. By Types of Cancer
      3. France
        1. By Drug Type
        2. By Types of Cancer
      4. U.K.
        1. By Drug Type
        2. By Types of Cancer
      5. Italy
        1. By Drug Type
        2. By Types of Cancer
      6. Spain
        1. By Drug Type
        2. By Types of Cancer
      7. Rest of Europe
        1. By Drug Type
        2. By Types of Cancer
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Drug Type
        2. By Types of Cancer
      3. China
        1. By Drug Type
        2. By Types of Cancer
      4. Australia
        1. By Drug Type
        2. By Types of Cancer
      5. India
        1. By Drug Type
        2. By Types of Cancer
      6. South Korea
        1. By Drug Type
        2. By Types of Cancer
      7. Rest of Asia-Pacific
        1. By Drug Type
        2. By Types of Cancer
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Drug Type
        2. By Types of Cancer
      3. South Africa
        1. By Drug Type
        2. By Types of Cancer
      4. Kuwait
        1. By Drug Type
        2. By Types of Cancer
      5. Rest of Middle East & Africa
        1. By Drug Type
        2. By Types of Cancer
  7. Company Profile
    1. Teva Pharmaceutical Industries Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Biocon
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. STADA Arzneimittel AG
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. 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

Have a Look at the Related Research Report?

Clinical Oncology Next Generation Sequencing Market: Information by Workflow (Pre-Sequencing, Sequencing), Technology (Whole Genome Sequencing), and Region — Forecast till 2030

Oncology Precision Medicine Market: Information by Product type (Diagnostics, Therapeutics), Applications (Breast cancer, Lung cancer), and Region — Forecast till 2030

Oncology Cancer Drugs Market: Information by Type (Chemotherapy, Targeted Therapy, Immunotherapy), Indication (Lung Cancer, Stomach Cancer), and Region — Forecast till 2030

Cell and Gene Therapy Market: Information by Type (Cell Therapy, Gene Therapy), Indication (Oncology Diseases, Orthopedic Diseases), Application (Oncology), and Region — Forecast till 2030

Artificial Intelligence for Drug Discovery and Development Market: Information by Type (Preclinical & Clinical Testing), Indication (Oncology, Neurology) and Region – Forecast till 2030

Breast Implants Market: Information by Product (Saline And Silicone), Application (Breast Augmentation), End-User (Hospitals, Dermatology Clinic), and Regions-Forecast Till 2031

Cancer Diagnostics Market: Information by Application (Breast Cancer, Colorectal Cancer, Cervical Cancer), End-User (Hospital, Clinics, Diagnostic Laboratories), and Region — Forecast till 2030

About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)

+44 208 068 9665 (the U.K.)

Email: [email protected]

Follow Us: LinkedIn | Facebook | Instagram | Twitter