Global Oncology Biosimilars Market 2024 , Forecast To 2033
7 Mar, 2024
The oncology biosimilars market (1) has witnessed exponential growth, with its size projected to increase from $6.9 billion in 2023 to $8.85 billion in 2024 at a CAGR of 28.3%. This growth is attributed to factors such as the rising prevalence of cancer, patent expirations of biologic cancer drugs, government support for biosimilars, and expanding investments and geographical reach. Looking ahead, the market is expected to continue its exponential growth, reaching $16.48 billion in 2028 at a CAGR of 16.8%, driven by an expanding portfolio, patient-centric care, healthcare cost containment, and advancements in targeted therapies, with emerging trends such as biobetters and supportive care biosimilars.
Global Oncology Biosimilars Market Key Driver
The expiration of patents for biologics used in cancer treatment is driving the production of new oncology biosimilars (1). As patents on nearly 20 oncology biologics are set to expire by 2023, new biosimilars are being developed, offering similar effectiveness at reduced costs, thus fueling demand and driving market growth in oncology biosimilars.
Get A Free Sample Of The Global Oncology Biosimilars Market ReportGlobal Oncology Biosimilars Market Segments
The oncology biosimilars market covered in this report is segmented –
1) By Drug Type: Monoclonal Antibody, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF)
2) By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types
3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
By Geography: The countries covered in the oncology biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the global oncology biosimilars market in 2023. Middle East is expected to be the fastest-growing region in the oncology biosimilars market report forecast period. The regions covered in the oncology biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Oncology Biosimilars Industry Players
Biocon Biologics 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; Amgen Inc.; F. Hoffmann-La Roche; Baxter International Inc.; Sanofi SA; Mylan; Samsung Bioepis; Biogen International GmbH; Merck & Co. Inc.; Coherus Biosciences; Eli Lilly and Company; Novartis AG; Shanghai Henlius Biotech; Viatris Inc.; Catalent Inc.; Patheon; Accord Healthcare Ltd.; Zydus Cadila Health Care Limited; Hetero Drugs Limited; Mundipharma International Limited; Mabion SA; Polpharma Biologics; Alvotech; Innovent Biologics; Gan & Lee Pharmaceuticals; Henlius Biotech
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Oncology Biosimilars Market Overview
Oncology biosimilars refer to biologically similar drugs or medications that are physiologically comparable to biologic cancer treatments. Infection risk is increased by decreased white blood cell counts, which can be treated as a side effect of cancer therapy.