Trastuzumab Biosimilars Market Global Report 2020-30: Covid 19 Growth And Change

The Business Research Company’s Global Trastuzumab Biosimilars Market Report 2020-30: Covid 19 Growth And Change

LONDON, GREATER LONDON, UK, September 22, 2020 /EINPresswire.com/ -- Major players in the trastuzumab biosimilars market are continuously focusing on launching new products in 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 December 2019, Biocon and Mylan launched Ogivri (trastuzumab-dkst) - a trastuzumab biosimilar - in the USA. Mylan plans to offer Ogivri in 150 mg and 420 mg strengths, and increase access for the treatment of HER2-positive breast and gastric cancer. 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.

The global trastuzumab biosimilars market size is expected to decline from $1.27 billion in 2019 to $1.25 billion in 2020 at a compound annual growth rate (CAGR) of -1.50%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges.

The entire supply chain has been disrupted, impacting the market negatively. The trastuzumab biosimilars market share is then expected to recover and reach $3.12 billion in 2023 at a CAGR of 35.50%.

The rising prevalence of breast and gastric cancer contributed to the growth of the trastuzumab biosimilar market size. Trastuzumab biosimilar is used in the treatment of human epidermal growth factor receptor 2 (HER2) overexpressing breast cancer and metastatic gastric cancer.

According to the World Health Organization (WHO), in 2018, the new breast cancer cases registered were around 2.09 million, and stomach (gastric) cancer cases were around 1.03 million. 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 trastuzumab market industry.

The trastuzumab biosimilar market share consists of the sales of trastuzumab biosimilar and related services by entities (organizations, sole traders, and partnerships) that manufacture trastuzumab biosimilars. Trastuzumab is a monoclonal antibody that interferes with human epidermal growth factor receptor (HER2). Trastuzumab biosimilars are used mainly for the treatment of breast cancer and gastroesophageal junction adenocarcinoma or metastatic gastric.

The global trastuzumab biosimilars market share is segmented by product into ogivri, herzuma, ontruzant, trazimera, and others. By indication, the market is segmented into adjuvant breast cancer, metastatic breast cancer, metastatic gastric cancer, and others. By distribution channel, it is segmented into hospital pharmacy and online pharmacy.

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