Oncology Biosimilars Treatment Market Analysis By Top Players, Share And Forecast Upto 2028
A biosimilar is a biological medicine highly analogous to already approved biological medicine. Biosimilars are approved based on quality, safety and efficacy similar to all biological medicines. It is manufactured using microorganism, plant or animal cells.
Biosimilar are similar to biological medicine which contains active substance from a biological source such as organisms or living cells. They are large, complex structure, possesses potential structural variations and requires large number of clinical trials. It is also referred as biogenerics. It is biotherapeutic product which is similar in term of safety, quality and efficacy to the reference biotherapeutic products. Many biologics are also produced using recombinant DNA technology.
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Increasing number of collaborative agreement for development and manufacturing for biosimilar is expected to fuel the market growth over the forecast period. Increasing number of product approvals for treatment for various types of cancer is expected to propel the market growth. Growing demand for cost effective treatment for oncology is expected to support the market growth. In addition, increasing number of cases for cancer such as breast cancer, cervical cancer, lung cancer, stomach cancer globally, in turn is expected to drive the global oncology biosimilars treatment market over the forecast period. However, high cost for development is limiting growth factor for global oncology biosimilars treatment market.
The global oncology biosimilars treatment market report has been segmented on the basis of product type, cancer type, distribution channel, and region.
Global oncology biosimilars treatment market segmentation, by product type:
- Monoclonal antibody
Global oncology biosimilars treatment market segmentation, by cancer type:
- Blood Cancer
- Breast Cancer
- Lung Cancer
- Cervical Cancer
- Colorectal cancer
- Kidney cancer
Global oncology biosimilars treatment market segmentation, by distribution channel:
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
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Based on region, the global oncology biosimilars treatment market is segmented into North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing increasing incidence of cancer cases in US, favorable reimbursement policies in the region and increasing number of product approval by US FDA and Health Canada. Robust pipeline by leading market players and launch for the same in US and Canada is expected to drive the market growth in the region. Asia Pacific is expected to witness rapid growth rate over the forecast period. This is attributed owing to increasing number of cancer cases and growing for demand for cost effective treatment in the region.
Some prominent players in the global oncology biosimilars treatment market are Amgen Inc., Allergan, Plc, Mylan N.V., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Novartis AG, Biocon Limited., Celltrion Healthcare, Biogen Inc., and F Hoffmann-La Roche