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2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theOncology Biosimilars Market?
The expiration of patents for biologics used in cancer treatment is driving the development of new oncology biosimilars. As patents for biologics expire, biosimilars—similar but less expensive alternatives—are being developed. The Center for Biosimilars reports that nearly 20 oncology biologics will see their patents expire by 2023, creating opportunities for new biosimilars to enter the market, thereby boosting market growth.
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#What is the Projected CAGR for the Oncology Biosimilars Market Size from 2025 to 2034?
The oncology biosimilars market size has grown exponentially in recent years. It will grow from $6.9 billion in 2024 to $8.85 billion in 2025 at a compound annual growth rate (CAGR) of 28.3%. This rapid growth is driven by the rising prevalence of cancer, patent expirations of biologic cancer drugs, government support for biosimilars, increased investments in biosimilar development and manufacturing, and the expanding geographical reach of biosimilars.
The oncology biosimilars market is expected to experience rapid growth, reaching $16.48 billion by 2029, at a CAGR of 16.8%. The growth is driven by the expanding oncology biosimilar portfolio, patient-centric care, healthcare cost containment, and the development of targeted therapies. Major trends include biobetters, biosimilar combinations, supportive care biosimilars, and the use of real-world evidence.
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What New Market Trends Are Reshaping theOncology Biosimilars Market and Its Opportunities?
Pharmaceutical companies are heavily investing in the development of oncology biosimilars. In May 2022, Biocon Biologics and Viatris launched their third oncology biosimilar, Abevmy, in Canada, which targets cancer growth by inhibiting vascular endothelial growth factor (VEGF).
Which Companies Are Leading the Charge in Expanding theOncology Biosimilars Market Growth?
Major companies operating in the oncology biosimilars market include Biocon Biologics 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, Amgen Inc., F. Hoffmann-La Roche, Sanofi SA, Mylan, Samsung Bioepis, Biogen International GmbH, Merck & Co. Inc., Coherus Biosciences, Eli Lilly and Company, Novartis AG, Viatris Inc., Accord Healthcare Ltd., Zydus Cadila Health Care Limited, Hetero Drugs Limited, Mundipharma International Limited, Mabion SA, Polpharma Biologics, Alvotech, Innovent Biologics, Gan & Lee Pharmaceuticals, Henlius Biotech
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How is the Global Oncology Biosimilars Market Segemented?
The oncology biosimilars market covered in this report is segmented –
1) By Drug Type: Monoclonal Antibody, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF)
2) By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types
3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Subsegments:
1) By Monoclonal Antibody: Rituximab Biosimilars, Trastuzumab Biosimilars, Bevacizumab Biosimilars, Pembrolizumab Biosimilars
2) By Immunomodulators: Thalidomide Biosimilars, Lenalidomide Biosimilars, Pomalidomide Biosimilars
3) By Hematopoietic Agents: Epoetin Biosimilars, Darbepoetin Biosimilars
4) By Granulocyte Colony-Stimulating Factor (G-CSF): Filgrastim Biosimilars, Pegfilgrastim Biosimilars
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Which Geographics are Influencing the Growth of the Oncology Biosimilars Market?
The countries covered in the oncology biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
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