This research report provides a segmentation of the global oncology biosimilars market by end-users (retail pharmacies and hospitals), by application (cancer treatment drugs and supportive care drugs) and by geography (EMEA, APAC and Americas). The leading vendors analyzed in this report are Biocon, Celltrion, Hospira, Mylan, Dr. Reddy’s Laboratories, Roche, and Sandoz.
Technavio’s market research analysts estimate the global oncology biosimilars market, to generate revenues of $7 billion by 2020. The patent expiry of many cancer therapeutics has enabled the entry of biosimilars, which are being incorporated into oncology treatment practices. Biosimilars are synthesized with the use of biologic components such as monoclonal antibodies, proteins, hormones, nucleic acids, colony stimulating factors, interleukins, and enzymes. EMEA dominates the global oncology biosimilars market, accounting for 46% of the total market share. Prevalence of well-defined regulatory guidelines, increase in the older population and incidences of cancer, and expiries of biologics drive this market’s growth in the region.
The new market research report from Technavio provides a breakdown and analysis of the oncology biosimilars segments by technology.
“The market presents huge growth opportunities for vendors because of the growing incidence of cancer. The clinical pipeline for cancer biosimilars is vast, featuring candidates in different stages of development. Around 30% of all the biosimilars that are awaiting the US FDA’s approval are monoclonal antibodies, including biosimilars of Avastin, MabThera, and Herceptin,” says Imran Mushtaq, Industry Manager, Healthcare & Lifesciences, Technavio Research
Retail pharmacies occupy the largest share of 52% in the oncology biosimilars market. Retail pharmacies provide a large customer base for biosimilar drugs. Individuals with cancer require biosimilar drugs for maintenance therapy, which helps to successfully treat and prevent relapse of the disease. These drugs can also be obtained from retail pharmacies for use in hospital settings.
The leading vendors in the global oncology biosimilars market are Biocon, Celltrion, Hospira, Mylan, Dr. Reddy’s Laboratories, Roche, and Sandoz. Though a small market, it holds tremendous potential for growth in the coming years. Vendors in India and China are preparing to enter and dominate the market by virtue of their competitive production costs and proximity to the emerging markets.
A more detailed analysis is available in the Technavio report, Global Oncology Biosimilars Market 2016-2020.
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