Oncology Biosimilars Market 2022 Top Key Players, Demands, Trends and Forecasts to 2029
June 23, 2022
Oncology Biosimilars Market Projection By Technology, Top Key Players, Demand, Segment, Regional Analysis Revenue Forecast Till – 2029PUNE, MAHARASHTRA, INDIA, June 23, 2022 /EINPresswire.com/ -- A biosimilar is a biological product that closely mimics and is identical to a previously approved reference product. These are less expensive than branded or certified items. Several oncology biologics have already lost their patents, and others are about to expire. Biosimilars are predicted to gain popularity as more products lose their patents. Leading generic companies including Allergan Plc., Teva Pharmaceutical Industries Ltd., Mylan N.V., and Sandoz (a Novartis International AG division) are likely to benefit from these patent expirations and position themselves as market leaders in oncology biosimilars.
Data Bridge Market Research analyses that the oncology biosimilars market was valued at USD 4.00 billion in 2021 and is expected to reach USD 15.55 billion by 2029, registering a CAGR of 18.5% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Download Sample (350 Pages PDF) Report: To Know the Impact of COVID-19 on this Industry@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-oncology-biosimilars-market
Global Oncology Biosimilars Market, By Indication (Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, Blood Cancer, Others), Drug Class (Monoclonal Antibodies, Granulocyte Colony-Stimulating Factor, Others), Route of Administration (Intravenous, Subcutaneous, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029
A biosimilar is a generic counterpart of a well-known biologic medicine. Medications made from living substances such as cells, tissues, or proteins are known as biologic drugs. A biosimilar is a medication that is based on a biologic drug that has already been studied, produced, clinically tested for safety and effectiveness, and authorized by the US Food and Drug Administration (FDA). Since the biosimilar is based on the approved drug, the biologic medications are commonly referred to as reference drugs. The functions of biosimilar are same as the reference drugs and it is dependent to FDA approval.
Competitive Landscape and Oncology Biosimilars Market Share Analysis
The oncology biosimilars market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to oncology biosimilars market.
Pfizer Inc. (U.S.)
GlaxoSmithKline plc (U.K.)
Novartis AG (Switzerland)
Mylan N.V. (U.S.)
Teva Pharmaceutical Industries Ltd.(Israel)
F. Hoffmann-La Roche Ltd. (Switzerland)
Zydus Cadila (India)
Amneal Pharmaceuticals LLC. (U.S.)
Cipla Inc. (U.S.)
Aurobindo Pharma (India)
Glenmark Pharmaceuticals Limited (India)
Eli Lilly and Company (U.S.)
Sun Pharmaceutical Industries Ltd. (India)
Bristol-Myers Squibb Company (U.S.)
Takeda Pharmaceutical Company Limited (Japan)
Apotex Inc. (Canada)
Endo International plc (Ireland)
Oncology Biosimilars Market Dynamics
Rise in the prevalence of cancer
The surging prevalence of cancer is a major factor driving the oncology biosimilars market's growth rate during the forecast period of 2022-2029. Cancer is a lifestyle disease caused by abnormal cell proliferation that can lead to the formation of a tumor. Biological medications, often known as biologics, are used in the majority of effective cancer treatments nowadays, including targeted therapies and immunotherapies. These medications are derived from living creatures such as bacteria, animal or plant cells, yeast and they require complicated manufacturing techniques and a long development time. The development of biosimilars of branded cancer biologics is gaining popularity as a way to reduce treatment costs.
Growing number of government initiatives
The rising initiatives by government is expected to expand the oncology biosimilars market. Additionally, Biosimilars are being promoted by governments in a number of nations as a cost-cutting solution. The United States Food and Drug Administration (USFDA), for instance, has created educational materials for physicians and patients on biosimilars.
Furthermore, sedentary lifestyle of people and surging geriatric population will result in the expansion of oncology biosimilars market. Along with this, rising healthcare expenditure and increasing demand for biosimilar drugs due to their cost-effectiveness will enhance the growth rate of the market.
Increase in the number of research and development activities
The rising number of research and development activities for new indications and patent expiry of biologics is estimated to create new opportunities for the oncology biosimilars market growth in coming years. The players are investing in these research activities in order to test different formulas and increase revenue. The competitors also engage in strategic alliances, which aid in significantly affecting the oncology biosimilars market's growth rate.
Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the oncology biosimilars market growth during the forecast period.
On the other hand, high cost associated with the drug development and distribution will obstruct the growth rate of market. The lack of healthcare infrastructure in developing economies and dearth of skilled professionals will challenge the oncology biosimilars market. Additionally, regulatory as well as clinical barriers and resistance from biologics manufacturers will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This oncology biosimilars market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the oncology biosimilars market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Oncology biosimilars market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Table of Contents:
Middle East & Africa
For More Insights Get Detailed TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-oncology-biosimilars-market
COVID-19 Impact on Oncology Biosimilars Market
The COVID-19 outbreak and subsequent lockdown in numerous countries around the world had a huge impact on the financial status of enterprises in all sectors. The private healthcare sector is one of the areas where the pandemic had a significant impact. The coronavirus pandemic had a significant influence on medicine development, production, and supply, as well as on the businesses of different healthcare corporations around the world. The outbreak has resulted in the shutdown of industrial establishments, with the exception of those that manufacture critical commodities, and disruptions in product supply chains. As a result, the COVID-19 outbreak had impacted the economy in by causing supply chain channel disruptions, and having a financial impact on firms and financial markets. Due to supply chain concerns, the pandemic also harmed generic manufacturers, who supply the majority of market volume. This is predicted to slow down output. However, in the short run, this could raise drug prices. In addition, the innovative medicine producers are likely to cover the supply gap, resulting in a lesser overall market impact.
In December 2020, Amgen had received United States Food and Drug Administration (USFDA) approval of RIABNI (rituximab-arrx). RIABNI (rituximab-arrx) is a biosimilar to rituximab which is used for the treatment of adult patients suffering from non-Hodgkin’s lymphoma, chronic lymphocytic leukemia, Wegener's granulomatosis and microscopic polyangiitis (MPA).
Read More @ https://www.databridgemarketresearch.com/reports/global-oncology-biosimilars-market
Global Oncology Biosimilars Market Scope
The oncology biosimilars market is segmented on the basis of indication, drug class, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Granulocyte Colony-Stimulating Factor
Route of Administration
Global Recombinant Cytokines Market - Industry Trends and Forecast to 2029
Global Value-Based Healthcare Market- Industry Trends and Forecast to 2029
Global Hospital Emergency Services Market - Industry Trends and Forecast to 2029
Global Postural Orthostatic Tachycardia Syndrome Market - Industry Trends and Forecast to 2029
Global Medical Insurance Market - Industry Trends and Forecast to 2029
Global Dupuytren's Disease Market - Industry Trends and Forecast to 2029
About Data Bridge Market Research:
An absolute way to forecast what future holds is to comprehend the trend today!
Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market.
Data Bridge Market Research
email us here