Oncology Biosimilars Market 2019 Global Analysis, Growth, Trends, Size, Share, Opportunities, Regional Outlook With Industry Forecast To 2026
Biosimilar is a biologic medical product, which is an almost an identical copy of an original product that is produced by different manufacturer. Biosimilars are relatively less expensive than the branded products. Many original biologics have lost their patents and some are in the period of expiry. As more biologics lose their patents, biosimilars are bound to get popular. International biopharmaceutical companies such as Teva Pharmaceutical Industries Ltd, Mylan N.V., Sandoz, a Novartis International AG’s division, and Allegran Plc are involved in capitalizing these patent expiries and are expected to establish themselves as dominating players in the global oncology biosimilars market.
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Growing approval of biosimilars for oncology is expected boos growth of the global oncology biosimilars market during the forecast period
For around a decade, there was not a single biosimilars approval in the U.S. and Europe market. However, in 2006, first biosimilar was approved in Europe, while in the U.S., the first product was approved in 2015. Since the approval of first product, the U.S. Food and Drug Administration (FDA) has approved five products in 2017, of which two were approved for oncology. In September 2017, Mvasi (bevacizumab-awwb), an oncology biosimilar, received the U.S. FDA approval, while in December 2017, Ogivri (trastuzumab) was approved. Furthermore, in Europe, aforementioned products have been approved and while Mvasi received the approval in January 2018 from European Commission.
Moreover, there are number of biosimilar application pending in the U.S. and Europe. For Herceptin (trastuzumab) alone, there are around four application pending in the FDA. These four application are from Amgen and Allergan, Celltrion and Teva, Pfizer, and Samsung Bioepis. Recent approval of products, and potential approval in next few years is expected to boost the market growth over the forecast period.
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Global Oncology Biosimilars Market Taxonomy
By Cancer Type:
- Lung Cancer
- Colorectal cancer
- Cervical Cancer
- Breast Cancer
- Kidney cancer
- Stomach cancer
- Brain Cancer
By Product Type:
- Monoclonal Antibody
By Distribution Channel:
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
North America is expected to hold dominant position in the global oncology biosimilars market during the forecast period
On the basis of region, oncology biosimilars market by Coherent Market Insights is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold the dominant position in the global oncology biosimilar market during the forecast period. Increasing approval for biosimilars from the U.S. FDA is expected to be the major factor driving growth of the oncology biosimilars market in North America. Moreover, there are numerous products in pipeline, which may receive approval from the U.S. FDA over the forecast period. For instance, Pfizer Inc., a U.S.-based company, has three biosimilar products (i.e. PF-05280014, PF-05280586 and PF-06439535) for oncology in Phase III.
Furthermore, Europe is also expected to witness significant growth over the forecast period. This growth is attributed to increasing launch of major products in the market over the forecast period. Europe-based generic manufacturers such as Sandoz (a Novartis International AG’s division) and Mylan N.V. have shown interest in this field. For instance, in 2009, Mylan N.V. has entered into a collaboration agreement with Biocon Limited to develop biosimilars. In 2017, both companies received approval for their first biosimilar product in U.S. Moreover, European Medicines Agency (EMA) also accepted resubmission for their Herceptin biosimilar in the same year. Increasing number of product approvals for biosimilars is expected to drive the global oncology biosimilars market growth during the forecast period.
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Major players operating in the global oncology biosimilars market include Amgen Inc., Allergan, Plc, Mylan N.V., Samsung Bioepis Co., Ltd., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Celltrion Healthcare, Novartis International AG, Biogen Idec, Inc., and Biocon Limited.About Us:
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