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How Fast Is The Oncology Biosimilars Market Expected to Grow Between 2025 And 2029?

In the past few years, the size of the oncology biosimilars market has experienced explosive growth. The market value is projected to increase from $6.9 billion in 2024 to $8.85 billion in 2025, a compound annual growth rate (CAGR) of 28.3%. The significant growth in the past can be linked to the increasing occurrences of cancer, expiration of patents for biologic cancer drugs, government backing for biosimilars, rising capital investments in biosimilar development and production, and the broadening geographical scope of biosimilars.

What Growth Rate Is Anticipated for the Oncology Biosimilars Market in the Coming Years?

In the upcoming years, the oncology biosimilars market is anticipated to witness accelerated growth, expanding to $16.48 billion in 2029, with a compound annual growth rate (CAGR) of 16.8%. The surge during the forecast period is mainly due to the growth of the oncology biosimilar portfolio, patient-oriented treatments, healthcare cost management, and the expansion of targeted therapies. The major trends for this period include biobetters, combinations of oncology biosimilars, supportive care biosimilars, and real-world evidence.

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Who Are the Leading Companies in the Oncology Biosimilars Market?

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

What Are the Key Drivers of the Oncology Biosimilars Market?

The production of novel oncology biosimilars is being accelerated by the expiration of biologics patents used in cancer treatment. Biologics, which are patent-protected for a certain duration, can engender the formulation of new biosimilars once their patents expire. These biologics, produced from living organisms, stimulate the immune system to combat cancer cells. Even though biosimilars are not identical to biologics, they provide the same potency at a lower cost. As per the Center for Biosimilars, around 20 patents for oncology biologics are set to expire by 2023, leading to the birth of new biosimilars for treating cancer. The surge in patent expirations is projected to spur the demand for the creation of novel oncology biosimilars, thereby propelling the oncology biosimilars market growth.

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What Are the Key Market Segments in the Oncology Biosimilars Industry?

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

What Are the Latest Trends in the Oncology Biosimilars Market?

Research and development (R&D) investment is on the rise among pharmaceutical firms, particularly in the realm of new oncology biosimilars. By increasing their R&D spending, these companies are tapping into the expanding biosimilar market to foster the generation and production of new biosimilars. For example, in May 2022, Biocon Biologics, based in India, and Viatris Inc., a biosimilars producer based in the US, introduced Abevmy (bevacizumab), their third oncology biosimilar, in the Canadian market. Abevmy, a biosimilar of Roche’s Avastin (bevacizumab), is a recombinant humanized monoclonal antibody that inhibits vascular endothelial growth factor (VEGF). It is through this VEGF inhibition that Abevmy halts the formation of new blood vessels, which are crucial for tumor growth.

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What Are the Key Regional Markets in the Oncology Biosimilars Industry?

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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This Report Delivers Insight On:

1. How big is the oncology biosimilars market, and how is it changing globally?

2. Who are the major companies in the oncology biosimilars market, and how are they performing?

3. What are the key opportunities and risks in the oncology biosimilars market right now?

4. Which products or customer segments are growing the most in the oncology biosimilars market?

5. What factors are helping or slowing down the growth of the oncology biosimilars market?

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