The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s trastuzumab biosimilars market report forecasts the trastuzumab biosimilars market size to grow to $8.86 Billion by 2027, with a CAGR (compound annual growth rate) of more than 27%.

Learn More On The Trastuzumab Biosimilars Market Report 2023 – https://www.thebusinessresearchcompany.com/report/trastuzumab-biosimilar-global-market-report

Trastuzumab Biosimilars Market Size Forecast
The global trastuzumab biosimilars market is expected to grow from $2.64 billion in 2022 to $3.36 billion in 2023 at a compound annual growth rate (CAGR) of 27.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The trastuzumab biosimilars market is expected to grow from $8.86 billion in 2027 at a CAGR of 27.4%.

North America held the largest trastuzumab biosimilars market share, and Middle East was the fastest-growing region in 2022.

Key Trastuzumab Biosimilars Market Driver ­– Rise In The Prevalence Of Breast And Gastric Cancer
According to the World Health Organization (WHO), breast cancer affected 2.3 million women globally in 2020, with 685 000 fatalities. According to Cancer India, breast cancer is the most common cancer in women in India and accounts for 14% of the cancers in women. Therefore, the rising prevalence of breast and gastric cancer increases the demand for trastuzumab biosimilar that helps save money when compared to expensive medicines, thereby driving the market.

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Key Trastuzumab Biosimilars Market Trend – Launching New Products
Major players are continuously focusing on launching new products in the untapped regions, which is shaping the market for trastuzumab biosimilars. The companies operating in the trastuzumab biosimilars market are undergoing various strategic initiatives such as new product development, partnerships, and geographical and product portfolio expansion to maintain their competitive position in the market and better serve the needs of the customers. For instance, in February 2020, Pfizer launched trastuzumab biosimilar to Herceptin, Trazimera in the USA. Trazimera is available for the treatment of human epidermal growth factor receptor 2 (HER2) metastatic gastric and breast cancer. Furthermore, in April 2020, Merck announced the launch of a Biosimilar of Herceptin (trastuzumab)- ONTRUZANT(trastuzumab-dttb). ONTRUZANT is available in the USA for approximately $1,325 and $3,709 for the 150 mg single-dose and 420 mg multiple-dose vial, respectively.

Trastuzumab Biosimilars Market Segment
1) By Product: Ogivri, Herzuma, Ontruzant, Trazimera, Other Products
2) By Indication: Adjuvant Breast Cancer, Metastatic Breast Cancer, Metastatic Gastric Cancer, Other Indications
3) By Distribution Channel: Hospital Pharmacy, Online Pharmacy

Trastuzumab Biosimilars Market Major Players and Strategies
Major players in the trastuzumab biosimilars market are Amgen Inc., Pfizer Inc., Samsung Bioepis, Merck & Co., Biocon Limited, Mylan Inc., BioXpress Therapeutics, Celltrion, Teva Pharmaceutical Industries Ltd. and EirGenix, Inc.

In March 2022, Biocon Biologics, an India-based fully integrated biopharmaceutical company, acquired Viatris Inc for $3.3 billion. This acquisition would build a distinctive, fully integrated, global biosimilars enterprise. This strategic alliance combines the strengths and complementary skills of both parties, positioning Biocon Biologics for the next ten years of value generation for all of our stakeholders. Viatris Inc is a US-based pharmaceutical company and a developer of biosimilar trastuzumab.

The Trastuzumab Biosimilars Global Market Report 2023 covers regional data on trastuzumab biosimilars market size, trastuzumab biosimilars market trends and drivers, opportunities, strategies, and trastuzumab biosimilars market competitor analysis. The countries covered in the trastuzumab biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Trastuzumab biosimilar refers to a HER2-targeted therapy drug that is designed to treat early and metastatic HER2-positive breast cancers. Trastuzumab biosimilar is a monoclonal antibody that binds to the human epidermal growth factor receptor 2 (HER2)/neu receptor and renders it inactive.

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