Global Oncology Biosimilars Market: Overview

The market for oncology biosimilars has just a few players and hence is consolidated in nature. Big shot players in the market are seen forging carefully-considered collaborations to expand their geographical footprints. A case in point is Dr. Reddy’s Laboratories, which entered into an agreement with TR-Pharm to strengthen its presence in the Middle East. According to the deal, TR-Pharm is required to commercialize Dr. Reddy’s three biosimilars in Turkey.

A noticeable trend in the market for oncology biosimilars is prominent pharmaceutical companies forming strategic alliances with well-known generic manufacturers to formulate biosimilars. One example in this direction is Biocon collaborting with Mylan to develop a strong portfolio of biosimilars, including monoclonal antibodies and recombinant proteins.

Depending upon the class of drugs, the global market for oncology biosimilars can be divided into monoclonal antibody, G-CSF, and hematopoietic agents. The segment of G-CSF among them currently pulls in maximum revenue. Patent expirations of reference biologics is also serving to drive growth in the market. In the near future too, the segment is expected to generate maximum revenue on the back of robust pipeline of oncology biosimilars.

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Global Oncology Biosimilars Market: Trends and Opportunities

Cancer is said to be the second-leading cause of death worldwide. What makes it particularly dreadful is the fact that there are limited therapies for it and those are usually very expensive. However, emergence of biologics for their treatment has reduced the cost burden on patients sufficiently. Biosimilars are molecules that match the efficacy and potency of the original reference biologic and yet are cheaper. In addition, they are easy to manufacture. All the aforementioned coupled with the expiration of original reference biologic is upping the demand for oncology biosimilars.

Pharmaceutical companies across the world are focused on formulating biosimilars and generic medicines to deal with cancer at various stages. This is expected to benefit the market for oncology biosimilars in the near future.

However, the complicated infrastructure required for the development of biosimilars and the lengthy approval process is posing a challenge to the market.

The global oncology biosimilars market can be classified into blood cancer, breast cancer, non-small cell lung cancer, neutropenia, colorectal cancer, and others based on the disease indication. The segment of blood cancer can be further divided into non-Hodgkin’s lymphoma and leukemia. The segment of neutropenia accounts for a leading share in the market at present. One of the reasons behind it is the approvals won by many manufacturers in Europe to manufacture filgrastim and Peg-Filgrastim.

Global Oncology Biosimilars Market: Regional Outlook

North America, Asia Pacific, Europe, and the Rest of the World are some of the key regions in the global market for oncology biosimilars that have been studied in the report. Asia Pacific, among them, holds a considerable share in the market. This is mainly because the low cost biosimilars are perfectly suited to the budgets of the people in the region who do not have the means to spend on expensive drugs.

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Biosimilars cost much less than the original reference biologics. Apart from that, easy availability of safe cancer medications in retail outlets along with focus of leading players on carefully-considered alliances in the region is also helping the market.

Companies Mentioned in the Report

Some of the prominent participants in the global market for oncology biosimilars are Celltrion Inc., Biocon, STADA Arzneimittel AG, Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Intas Pharmaceuticals Ltd., Sandoz International GmbH, BIOCAD, and Teva Pharmaceutical Industries Ltd.