The oncology biosimilars market is projected to exhibit a massive 29.4% CAGR between the forecast duration from 2020 to 2025. The coronavirus crisis is expected to have a negative impact on the oncology biosimilars industry owing to a growing gap in supply and demand. Lockdowns have disrupted operations in supply chain hubs. In addition, demand for oral and subcutaneous drug formulations has gone up despite low patient volume influencing demand.
"Demand for low costs alternatives to conventional, branded cancer treatment formulations is the primary impetus behind the sales of oncology biosimilars. Growing numbers of geriatrics, coupled with sustained degradation of the environment in recent years has resulted in higher numbers of cancer cases, which is contributing to demand for oncology biosimilars," says the FACT.MR study.
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Oncology Biosimilars Market- Key Takeaways
- Breast cancer and leukemia treatment applications are highly lucrative for market players, driven by high number of cases, and extensive research investments.
- Hospital pharmacies will account for sales of most oncology biosimilar sales, owing to growing hospitalization of cancer patients and access to wider range of medication options.
- Europe is proving to be major market for oncology biosimilars, supported by leading cancer research programs.
Oncology Biosimilars Market- Driving Factors
- Faster approval of biosimilars by regulatory bodies such as the FDA boost market prospects.
- Investments into research for active ingredients in drugs contributed to essential market developments.
Oncology Biosimilars Market- Major Restraints
- Continued preference for biologics among patients and healthcare professionals will contribute to hamper sales for oncology biosimilars.
- Side effects from switching from an oncology biologic drug to a biosimilar alternative hinders market growth.
COVID-19 Impact on Oncology Biosimilars Market
The coronavirus pandemic has adversely affected the oncology biosimilars market, largely owing to supply chain disruptions in major production hubs such as the U.S., India, and China, during lockdown. Also, healthcare administrative professionals have postponed financial contracting discussions with market players, which will impact how product launches are carried out. Further, significant healthcare resources have been redirected towards handing the covid-19 crisis, which reduces supplies and access to oncology biosimilars.
Competitive Landscape
Sandoz International GmbH, Celltrion Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., and Biocon are some of the most prominent participants in the oncology biosimilar market.
Leading players in the oncology biosimilars market have been pushing for new product launches and leveraging faster approval times by regulators, to consolidate their market prospects.
For instance, Teva Pharmaceuticals and Celltrion Healthcare have announced the release of Herzuma, the fourth trastuzumab biosimilar to enter the oncology biosimilars market. Sandoz Canada Inc. has announced regulatory approval of Ziextenzo and Riximyo oncology biosimilars from Health Canada. Further, Pfizer has unveiled 3 monoclonal anti-body oncology biosimilars, Zirabev, Ruxience, and Trazimera for the US market.
Explore the global Oncology Biosimilars market with 75 figures, 29 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/connectus/sample?flag=RM&rep_id=4800
About the Report
This study offers readers a comprehensive market forecast of the oncology biosimilars market. Global, regional and country-level analysis of the top industry trends impacting the oncology biosimilars market is covered in this FACT.MR study. The report offers insights on the oncology biosimilars market on the basis of drug class (G-CSF, monoclonal antibody, and hematopoietic agents), disease indication (breast cancer, non-small cell lung cancer, colorectal cancer, neutropenia, blood cancer, and others), and distribution channel (hospital pharmacy, retail pharmacy, and online pharmacy) across four regions (North America, Europe, Asia Pacific, and Rest of the World).
Press Release: https://www.factmr.com/media-release/1569/global-oncology-biosimilars-market
Fact.MR has adopted a multi-disciplinary approach to shed light on the evolution of the global Oncology Biosimilars market during the historical period of 2015– 2019.
The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2020, and key prospects over the forecast period 2020 – 2025.
The Oncology Biosimilars market study includes a thorough analysis of the overall competitive landscape and the company profiles of leading market players involved in the global Oncology Biosimilars market.
Further, the presented study offers accurate insights pertaining to the different segments of the Global market such as the market share, value, revenue, and how each segment is expected to fair post the COVID-19 pandemic.The oncology biosimilars market is looking at a bright future ahead expanding at a stellar CAGR of 29.4% by 2025 end.
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Oncology Biosimilars market.After reading the Oncology Biosimilars market report, readers get insight into: Major drivers and restraining factors, opportunities and challenges, and the competitive landscapeNew, promising avenues in key regionsNew revenue streams for all players in emerging marketsFocus and changing role of various regulatory agencies in bolstering new opportunities in various regionsDemand and uptake patterns in key industries of the Oncology Biosimilars marketNew research and development projects in new technologies in key regional marketsChanging revenue share and size of key product segments during the forecast periodTechnologies and business models with disruptive potential Request for Sample Report with Statistical Info @ https://www.factmr.com/connectus/sample?flag=S_id=4800The Oncology Biosimilars market report offers an assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.
Key regions covered comprise: North America (U.S., Canada)Latin America (Brazil, Mexico, Argentina, Rest of Latin America)Europe (Germany, Italy, France, U.K., Spain, Benelux, Russia, Rest of Europe)East Asia (China, Japan, South Korea)JapanAPEJ (China, India, Indonesia, Thailand, Singapore, Australia & New Zealand, Rest of Asia Pacific)South Asia & Oceania (India, Thailand, Indonesia, Malaysia, Australia & New Zealand, Rest of South Asia & Oceania)Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of Middle East & Africa)The evaluation of the competitive landscape in the Oncology Biosimilars market covers the profile of the following top players:Sandoz International GmbHPfizer, Inc.Celltrion Inc.Dr.
The global Oncology Biosimilars market is likely to gain momentum in the coming years and exhibit a CAGR of 29.4% says a recent report published by Fact.MR.
The impact of the COVID-19 pandemic on the global Oncology Biosimilars market is thoroughly discussed in the report.
The imposition of lockdown by the governments of all nations worldwide resulted in huge losses for most businesses.
However, the healthcare sector gained promising revenues on account of the increasing number of patients, rising demand for safety kits, and growing panic and tension amongst the common man.
Several institutions have invested heavily and engaged in deep research and development so as to come up with an antidote to fight the novel coronavirus.
Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=4800The report on the Oncology Biosimilars market elaborates the possibility of trading and investment and certain tricks up the sleeve for gaining a positive edge in the market during the forecast period.
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