Oncology Biosimilars Market: Blood Cancers Segment is Projected to Expand at a Whopping 33.0% CAGR By 2032
250 Pages Oncology Biosimilars Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
According to Fact MR’s recent market research, sales of Oncology Biosimilars to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Oncology Biosimilars market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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Digital Transformation in Healthcare Presenting Opportunities for Oncology Biosimilars Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Oncology Biosimilars market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Oncology Biosimilars market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Oncology Biosimilars
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The report offers actionable and valuable market insights of Oncology Biosimilars. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Oncology Biosimilars Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Oncology Biosimilars, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Oncology Biosimilars Market.
Global Oncology biosimilars Market Segmentation
Fact.MR has studied the global oncology biosimilars market with detailed segmentation on the basis of drug class, disease indication, distribution channel, and region.
Drug Class
- G-CSF
- Monoclonal Antibody
- Hematopoietic Agents
Disease Indication
- Breast Cancer
- Non-Small Cell Lung Cancer
- Colorectal Cancer
- Neutropenia
- Blood Cancer
- Leukemia
- Myeloid Leukemia
- Chronic Lymphocytic Leukemia (CLL)
- Non-Hodgkin Lymphoma
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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Key Takeaways of Oncology Biosimilars Market Study:
- By drug class, the granulocyte-colony stimulating factor (G-CSF) category shall dominate the oncology biosimilars market, capturing more than 3/5th of the total market share. Rising adoption of chemotherapy is the key growth driver of the segment. However, monoclonal antibodies are set to grow the fastest, expanding 4.0x, attributed to modification of manufacturing facilities to develop complex and effective drugs.
- By disease indication, the blood cancer and neutropenia segments are set to account for the majority of the market share, accounting for 22.3% and 54.7% respectively. Rising FDA approvals for biosimilar products manufactured by leading market players are attributed as key drivers behind the expansion. Examples of such drugs are filgrastim-sndz and filgrastim-aafi.
- By end-user, hospital pharmacies shall expand the fastest, at a whopping CAGR of 29.5%. The growing trend of physicians prescribing biosimilars instead of generic drugs is anticipated to heighten market prospects for the segment. More than half of the global oncology biosimilars market is set to be captured by the hospitals segment.
- Asia-Pacific dominates the oncology biosimilars market. Financial leverage by virtue of collaborations between leading giants is a key growth driver. The region is anticipated to capture over one-third market share, expanding at a CAGR of 30.7% across the forecast period. Trailing behind is North America, with a projected market share of 28.4% and a CAGR of 32.0%. New pipeline drugs are attributed as key growth levers.
“The global oncology biosimilar drugs are finding increased application to treat cancer patients, burgeoned by the rapid phasing out of generic and blockbuster drugs. Key players are concentrating on expanding their product pipeline to provide room for manufacturing these drugs,” concludes a Fact.MR analyst.
Global Oncology Biosimilars Market: Competition Structure:
The global oncology biosimilars market consists of the following market players: Celltrion, Inc., Dr. Reddy’s Laboratories Ltd., Biocon, Teva Pharmaceutical Industries Ltd., and Sandoz International GmBh. This makes it a highly consolidated market. Collectively, these market players account for more than 70% of the market share. In order to increase their market footprints, these companies rely heavily on strengthening their product distribution networks through active collaborations.
Biocon, for instance, announced an exclusive global collaboration with Sandoz on next-generation biosimilars in 2018. Likewise, Dr. Reddy’s collaborated with TR Pharm to launch three biosimilars in Turkey in 2016. Other prominent market players in the global oncology biosimilars market include Pfizer, Inc., Celltrion, Inc., Sandoz International GmBh, STADA Arzneimittel AG and Apotex, Inc. to name a few.
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Report Benefits & Key Questions Answered
- Oncology Biosimilars Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Oncology Biosimilars Historical volume analysis: The report provides a comparison of Oncology Biosimilars’s historical sales and projected sales performance for 2021-2031.
- Oncology Biosimilars Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Oncology Biosimilars market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Oncology Biosimilars Consumption by demographics: The report investigates consumer behavior affecting Oncology Biosimilars demand outlook for the assessment period. Effect of their keenness for digital trends on Oncology Biosimilars market is carefully analyzed
- Post COVID consumer spending on Oncology Biosimilars: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Oncology Biosimilars market growth.
More Valuable Insights on Oncology Biosimilars Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Oncology Biosimilars, Sales and Demand of Oncology Biosimilars, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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