Global Oncology Biosimilars Market to Reach US$ 30.3 Billion by 2032, Impelled by High Cost of Branded Therapies

September 23, 2019 | Healthcare

The latest report by IMARC Group, titled “Oncology Biosimilars Market Report by Drug Type (Monoclonal Antibody, Immunomodulators, G-CSF, Hematopoietic Agents, and Others), Cancer Type (Lung Cancer, Colorectal Cancer, Cervical Cancer, Breast Cancer, Kidney Cancer, Stomach Cancer, Brain Cancer, and Others), Distribution Channel (Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, and Others), and Region 2024-2032”, finds that the global oncology biosimilars market reached a value of US$ 4.7 Billion in 2023. Oncology biosimilars are cost-effective counterparts of the already licensed reference biologics. They are similar in terms of quality, safety and efficiency to their branded counterparts, and are widely being used in cancer treatment. Biological therapies are large, highly complex molecules derived from living cells or organisms. The extensive research involved in the development of originator drugs, coupled with aggressive marketing and promotion by the manufacturer, leads to high costs. Since biosimilars only require such studies to ensure equivalence of efficacy and safety profiles, they incur lower manufacturing costs, which in turn help in reducing treatment expenses.

Global Oncology Biosimilars Market Trends:

According to the World Health Organization, cancer resulted in an estimated 9.6 million deaths in 2018, representing the second leading cause of death globally. The rising prevalence of cancer, along with the upcoming patent expiry of several blockbuster oncology drugs, has encouraged pharmaceutical manufacturers to develop biosimilars for use in oncology. Additionally, several regulatory authorities have also approved biosimilars to offer a safe and affordable alternative to originator biological therapies. These cost-effective biosimilars provide significant savings, better access to treatment, and the potential of improved outcomes. Moreover, several leading manufacturers are entering into partnerships to develop oncology drugs. For instance, Biocon, Asia’s premier biopharmaceutical company, has collaborated with Sandoz, a Novartis division and the global leader in biosimilars, to develop, manufacture and commercialize next-generation biosimilars for patients worldwide to help them gain access to a range of high-quality and affordable oncology biologics. According to the oncology biosimilars market report, the market value is projected to reach US$ 30.3 Billion by 2032, exhibiting a CAGR of 22.3% during 2024-2032.

Market Summary:

Based on the drug type, the market has been segmented into monoclonal antibodies, immunomodulators, granulocyte-colony stimulating factor (G-CSF), hematopoietic agents and others.
On the basis of the cancer type, the market has been segregated into the lung, colorectal, cervical, breast, kidney, stomach, brain and other forms of cancer.
The market has been categorized based on the distribution channel into hospital pharmacies, online pharmacies, retail pharmacies and others.
Region-wise, the market has been classified into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been examined with some of the key players being Biocon 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 Biotechnology Company, Mylan N.V., and F. Hoffmann-La Roche AG.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Drug Type, Cancer Type, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Biocon 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 Biotechnology Company, Mylan N.V., and F. Hoffmann-La Roche AG
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Oncology Biosimilars Market to Reach US$ 30.3 Billion by 2032, Impelled by High Cost of Branded Therapies

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.