The "Oncology Biosimilars Global Market Report 2022: By Drug, By Cancer, By Distribution" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global oncology biosimilars market.

The global oncology biosimilars market is expected to grow from $3.27 billion in 2021 to $4.19 billion in 2022 at a compound annual growth rate (CAGR) of 28.3%.

The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.35 billion in 2026 at a CAGR of 28.3%.

Companies Mentioned

• Biocoin
• 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

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The oncology biosimilars market consists of sales of medicine and drug related products for cancer treatment. Biosimilars are pharmaceuticals which are manufactured using cell lines and are exclusive to the manufacturer. The manufacturing of these cell line processes is a complex and time-consuming process.

The main drug types of oncology biosimilars are monoclonal antibody, immunomodulators, hematopoietic agents and granulocyte colony-stimulating factor (G-CSF). Immunomodulators are a class of drugs that primarily target pathways involved in the treatment of multiple myeloma and a few other cancers. The types of cancer treated include breast cancer, colorectal cancer, blood cancer, neutropenia cancer, non-small cell lung cancer, others and the various distribution channel involved are hospital pharmacy, retail pharmacy and online pharmacy.

North America was the largest region in the oncology biosimilars market in 2021. Middle East is expected to be the largest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The expiration of patent of biologics used for the treatment of cancer is driving the production of new oncology biosimilars. Biologics can be patented for a limited period and the expiration of patents for biologics allows the development of new biosimilars. Biologics are targeted drugs synthesized from living organisms which induces the immune system to attack cancer cells. Biosimilars are similar to biologics but are not identical and offers the same effectiveness as biologics at a reduced cost. 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.

The lack of awareness on biosimilars among primary care physicians (PCPs) and specialist limits the growth of the oncology biosimilars market. Biosimilars are manufactured from cell lines and offer the same effectiveness as biologics. However, lack of detailed awareness on the biosimilars amongst the prescribers reduces the prescriptions of biosimilars affecting the biosimilar market. For instance, as reported by the Health Research Institute of PricewaterhouseCoopers, out of 442 clinicians surveyed 55% of clinicians were unfamiliar with biosimilars and 35% were reluctant to prescribe them due to concerns included safety of the follow-on biologic. Thus, the lack of awareness about biosimilars among primary care physicians (PCPs) and specialists restricts the growth of the oncology biosimilars market.

The pharmaceutical companies are increasingly investing in research and development to produce new oncology biosimilars. The companies are exploiting growth potential of rising biosimilar market by investing in their research and development (R&D) processes to support the research and production process of new biosimilars.

For more information about this report visit https://www.researchandmarkets.com/r/1bqquc

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