Global Cancer Biosimilars Market

Report ID : 1078 | Published : 2021-07-23 | Pages: 140 | Format: PDF/EXCEL

Biosimilar is defined as a type of biological product that is approved by respective regulatory bodies because of its clinical similarity to already approved biological products. This is relatively cheaper than biologics. The abnormal growth of call is called cancer. Cancer is the second leading cause of death across the globe. Many biologic therapies are currently approved for the treatment of cancer, but due to high cost, it is not affordable in low-income countries. Growing demand for biosimilar and increase in demand for cost-effective treatment in low and medium-income countries drives the growth of the market during the forecast period. Certain anti-cancer drugs had lost patents along with many drugs are going to lose the patent in coming years; thus, cancer biosimilars are expected to gain popularity in the coming year. A growing number of cancer patients and entry of biosimilars into the market, rising number of mergers and acquisitions by key players to grab the market share further drives the growth of the global cancer biosimilar market. However, complicated manufacturing process and stringent regulatory hurdles for the approval of biosimilars are the factors restrains the growth of the market.

The global cancer biosimilar market is segmented on the basis of cancer type, product type, distribution channel, and geography. On the basis of cancer type, the global cancer biosimilar market is segmented into lung cancer, breast cancer, ovarian cancer, prostate cancer, lymphoma, and many more. An increase in the number of cancer patients and approval of biosimilars has boosted the growth of the market. Based on distribution channels, the global biosimilar market is further sub-segmented into online pharmacy, hospital pharmacy, and retail pharmacy. Hospital pharmacy is a major contributor in terms of revenue to the market due to the increase in the number of hospital visits and hospital stays; however, online pharmacy is witnessed to grow at a higher pace in the forecast period due to an increase in the number of internet users and ease of use.
At the regional level, the global cancer biosimilar market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of revenue, North America is expected to be the dominant global market over the forecast period. The first biosimilar approved by the U.S. FDA is in 2015, which is almost ten years later than Europe. However, since 2015, the U.S has approved many biosimilar, for instance, as of 2017, FDA approved five biosimilars, out of which two are approved for cancer. Furthermore, robust clinical pipeline and increasing research and drug development activities propel the growth of the market in North America. Europe is a major contributor to the global cancer biosimilar market. This is partly because of increased government initiatives for cost-effective treatment and an increase in demand for biosimilars. The Asia Pacific is the third promising revenue contributor, which is expected to grow at a rapid pace in the upcoming year. Countries such as Japan, India, and China are major contributors for this market and are identified as most lucrative for this market. Emerging and huge population base countries such as China and India offers tremendous market opportunities. Furthermore, low cost biosimilars perfectly suffice to the budgets of the people in this region
Some of the market players leading the global cancer biosimilar market are Biocon, Pfizer Inc., Allergan Plc., Samsung Bioepis Teva Pharmaceutical Industries, Sandoz, and many more.

  • Biocon
  • Pfizer Inc
  • Allergan Plc
  • Samsung Bioepis
  • Teva Pharmaceutical Industries
  • Sandoz
  • Other Prominent Player with Pipeline Product Portfolio

Global Cancer Biosimilars Market Segmentation

Global Cancer Biosimilars Market Outlook (Revenue, US$ Mn, 2019 – 2030) By Type

  • Lung Cancer
  • Breast cancer
  • Ovarian cancer
  • Prostate cancer
  • Lymphoma
  • Others

Global Cancer Biosimilars Market Outlook (Revenue, US$ Mn, 2019 – 2030) By Distribution channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy

Global Cancer Biosimilar Market Outlook (Revenue, US$ Mn, 2019 – 2030) By Region

  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Australia & New Zealand
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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