Global Oncology Biosimilars Market 2024 research report offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market.
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The high cost coupled with the patents of many of these biologic agents expiring has led to the innovation of biosimilars of the biologic agents. Biosimilars are very comparable to their reference products but due to their size and complexity, are not entirely identical. But the products are clinically as effective and safe as the innovator biologic agents. Biosimilars thus represent greater cost savings but they are subjected to the regulatory agencies approval and require more training for the clinician handling it. According to the estimates by The Agency for Healthcare Research and Quality (AHRQ), the direct medical costs for cancer in the US in 2015 were approximately $80 billion. This has led to increased negative scrutiny on treatments which only achieve marginal benefits. The growth for the biosimilars is also expected to fuel by the expiration of the patents of a large number of biologics. These factors are expected to contribute to the considerable and fuel the growth of the global oncology biosimilars market.
Drivers & Restraints
In January 2019, the FDA approved the third ever oncology biosimilar called Ontruzant (trastuzumab-dttb) of Samsung Bioepis which is a Herceptin referencing biosimilar trastuzumab, indicated for the treatment of multiple forms of cancers such as gastric cancer. The incidences of cancer cases are rising worldwide, exerting pressure on the financial resources of the individual diagnosed. The treatment of cancer using biologic drugs is being increasing, due to the high effectiveness of the drug and comparatively lesser side effects, however biologic drugs are expensive, leading to greater treatment costs per patient.
This study provides information about the sales and revenue during the historic and forecasted period of (2024 to 2030). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Oncology Biosimilars Market report.
This report focuses on Oncology Biosimilars Market volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Oncology Biosimilars Market market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
An Overview of the Impact of COVID-19 on this Market:
The advancement of COVID-19 has conveyed the world to a stop. We fathom that this prosperity crisis amazingly influences associations across ventures. Nevertheless, everything fortunate or unfortunate should reach a conclusion. There are a couple of organizations that are fighting and some are thriving. By and large, essentially every region is relied upon to be impacted by the pandemic.
We are advancing incessant endeavors to help your business support and create during COVID-19 pandemics. Considering our experience and expertise, we will offer you an impact examination of Covid episode across ventures to help you with preparing for what’s to come.
Key players covered in the global Oncology Biosimilars Market research report:
Sandoz International GmbH, Celltrion Inc., Pfizer Inc., Amgen Inc., Samsung Bioepis, Biogen International, Merck & Co., Inc., Coherus Biosciences and other players.
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Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Key Stakeholders
- Natural substance providers
- Merchants/brokers/wholesalers/providers
- Administrative bodies, including government organizations and NGO
- Business innovative work (RandD) establishments
- Merchants and exporters
- Government associations, research associations, and counseling firms
- Exchange affiliations and industry bodies
- End-use enterprises
Major Table of Contents for Oncology Biosimilars Market Research Report:
- Introduction
- Executive Summary
- Market Dynamics
- Key Market Growth Insights
- Global Market Analysis, Insights and Forecast, 2024-2030
- North America Market Analysis, Insights and Forecast, 2024-2030
- Europe Market Analysis, Insights and Forecast, 2024-2030
- Asia Pacific Market Analysis, Insights and Forecast, 2024-2030
- The Middle East and Africa Market Analysis, Insights and Forecast, 2024-2030
- Latin America Market Analysis, Insights and Forecast, 2024-2030
- Competitive Landscape
- Global Oncology Biosimilars Market Revenue Growth, Industry Share Analysis, By Key Players, 2024
- Company Profiles
- Conclusion
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