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 oncology biosimilars market report forecasts the oncology biosimilars market size to grow to $12.83 Billion by 2027, with a CAGR (compound annual growth rate) of more than 24%.

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

Oncology Biosimilars Market Size Forecast
The global oncology biosimilars market is expected to grow from $4.19 billion in 2022 to $5.38 billion in 2023 at a compound annual growth rate (CAGR) of 28.3%. 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 oncology biosimilars market is expected to grow from $12.83 billion in 2027 at a CAGR of 24.3%.

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

Key Oncology Biosimilars Market Driver ­– Increase In Number Of Patent Expiry
According to the Center for Biosimilars, patents on nearly 20 oncology biologics will expire by 2023, leading to the development of new biosimilars in cancer care. The increased number of patent expiry is expected to boost the demand for the production of new oncology biosimilars, thus, driving the market growth for oncology biosimilars.

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Key Oncology Biosimilars Market Trend – Increasingly Investing In Research And Development
The pharmaceutical companies are increasingly investing in research and development to produce new oncology biosimilars. The companies are exploiting the growth potential of the rising biosimilar market by investing in their research and development (R&D) processes to support the research and production process of new biosimilars. For instance, in February 2021, Coherus and Junshi Biosciences announced a collaboration in which Coherus would in-license toripalimab, an anti-PD-1 antibody in the US and Canada. Coherus plan to build a leading immuno-oncology franchise using cash from its commercial biosimilar business. Also, in 2019, Biocon, India’s largest biotechnology company invested to acquire some assets of Pfizer Healthcare to set up an R&D facility to boost biosimilar development.

Oncology Biosimilars Market Segment
1) By Drug Type: Monoclonal Antibodies, 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

Oncology Biosimilars Market Major Players and Strategies
Major players in the oncology biosimilars market are Bitcoin, 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, Hospira, F Hoffmann-La Roche, Baxter, Sanofi, Mylan, and F Hoffmann-La Roche.

The Oncology Biosimilars Global Market Report 2023 covers regional data on oncology biosimilars market size, oncology biosimilars market trends and drivers, opportunities, strategies, and oncology biosimilars market competitor analysis. The countries covered in the oncology 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.

Oncology biosimilars refer to biologically similar drugs or medications that are physiologically comparable to biologic cancer treatments. Infection risk is increased by decreased white blood cell counts, which can be treated as a side effect of cancer therapy.

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