March 28, 2020

Oncology Biosimilars Market will be growing at a CAGR of 28.3% during the forecast period from 2018 to 2026

The latest market report published by Credence Research, Inc. “Oncology Biosimilars Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global market for biosimilar oncology was valued at US$ 1.651.5 million in 2017, expanding to CAGR by 28.3 per cent from 2018 to 2026.

Market Insights

According to the United States of America. The Food and Drug Administration (FDA) biosimilar is a biological product that is very similar to the existing approved reference product and has no clinically meaningful differences. Biosimilars are approved in accordance with the same pharmaceutical quality, safety and efficacy standards as all biomedicines. In the United States, the number of biosimilar approvals increased as five out of nine approved biosimilars across different disease conditions received by the U.S. The FDA’s approval. In addition, the U.S. has witnessed approvals of biosimilar oncology such as Amgen’s Mvasi (bevacizumab-awwb), biosimilar to Genentech’s Avastin for the treatment of lung, colorectal, kidney, brain and cervical cancers, and Mylan’s Ogivri (trastuzumab-dkst), biosimilar to Herceptin for the treatment of breast cancer, gastric cancer and gastrointestinal cancer. The USFDA is determined to increase biosimilar approvals, especially for cancer, as cancer treatment places a high cost burden on patients. Although oncology prices for biosimilars are lower than for biologics, savings are not on the same scale as for generics and patented non-biological drugs. Savings of 20%-30% compared to the reference biologic product have been observed in major markets such as Europe and North America, making biosimilars a lucrative alternative.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/oncology-biosimilars-market

As far as the drug class is concerned, the granulocyte colony-stimulating factor (G-CSF) held the largest market share in oncology biosimilars due to its early approvals in Europe and the United States. However, due to recent approvals by Mvasi (bevacizumab-awwb) and Ogivri (trastuzumab-dkst) in the United States, the monoclonal antibody class is expected to grow at the highest growth rate and to emerge as the largest market in 2026. In addition, the robust pipeline and patent expiry of major biologics during the forecast period would further contribute to the growth of monoclonal antibodies on the market. Due to the approval of filgrastim and Peg-filgrastim, neutropenia marketed several pharmaceutical companies in Europe and Asia Pacific in terms of disease status. However, breast cancer is projected to proliferate at a humongous rate due to the high prevalence of breast cancer worldwide and recent approval of trastuzumab in Europe and North America.

In 2017, Europe dominated the global market for biosimilar oncology due to the presence of approved biosimilar oncology such as filgrastim, trastuzumab and rituximab in the region. In addition, the European Medicines Agency (EMA) has established guidelines for the approval of biosimilars through regulatory bodies such as the European Society for Medical Oncology (ESMO). North America is expected to exhibit rapid growth in the biosimilar oncology market as a result of the market entry of breakthrough biosimilar oncology and vigorous pipeline expected to hit the market during the forecast period.

The prominent players actively engaged in the oncology biosimilars market are Samsung Bioepis, Celltrion Inc., Biocon, Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Sandoz Inc., Teva Pharmaceutical Industries Ltd., Apotex Inc., and BIOCAD. Robust pipeline and ongoing clinical trials in U.S. and Europe are driving the oncology biosimilars market. For instance, Pfizer has six biosimilars in phase III of clinical trials, testing for drugs such as Rituxan/MabThera, Herceptin, Avastin and Humira

Key Market Movements:

  • Rising prevalence of cancer worldwide
  • Recent FDA approved biosimilars contributing towards the growth of oncology biosimilars market
  • Patent expirations of major biologics leading to inclination of generic pharmaceutical companies to venture in biosimilars
  • Partnerships and collaboration between biopharmaceutical companies to increase research and development of biosimilars
  • Robust pipeline of oncology biosimilars anticipated to enter the market by 2020 will also assist market growth

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59205

[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Drug Class Type

  • Monoclonal Antibodies
  • Granulocyte Colony-Stimulating Factor (G-CSF)
  • Pipeline Analysis
    • Phase III Molecules Analysis
      • Rituximab Biosimilar
      • Trastuzumab Biosimilar
      • Filgrastim Biosimilar
      • Bevacizumab Biosimilar
  • Phase I and Phase II Molecules Analysis

By Disease Condition Type

  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Cervical Cancer
  • Blood Cancer
  • Neutropenia
  • Others (Brain Cancer, Stomach Cancer, etc)

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59205

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