Oncology Biosimilars Market Growth Analysis With Investment Opportunities For 2024-2033

The Business Research Company's Oncology Biosimilars Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 7, 2024 /EINPresswire.com/ -- The oncology biosimilars market has experienced robust growth in recent years, expanding from $6.9 billion in 2023 to $8.85 billion in 2024 at a compound annual growth rate (CAGR) of 28.3%. The growth in the historic period can be attributed to rising prevalence of cancer, patent expirations of biologic cancer drugs, government support for biosimilars, growing investments in biosimilar development and manufacturing, expanding geographical reach of biosimilars.

Strong Future Growth Anticipated
The oncology biosimilars market is projected to continue its strong growth, reaching $16.48 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to expanding oncology biosimilar portfolio, patient-centric care, healthcare cost containment, targeted therapies, expanding pipeline.

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Growth Driver Of The Oncology Biosimilars Market
Government initiatives for reducing cancer are expected to propel the growth of the oncology biosimilars market going forward. Government initiatives refer to actions, policies, or programs introduced and implemented by government authorities at various levels (local, regional, national, or even international) to address specific issues or achieve particular objectives. These initiatives to reduce cancer can create a favorable environment for the development and adoption of oncology biosimilars by providing financial support, regulatory assistance, and public awareness.

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Major Players And Market Trends
Key players in the oncology biosimilars market include Biocon Biologics Limited, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG.
Pharmaceutical companies are increasingly investing in research and development to produce new oncology biosimilars. The companies are exploiting the growth potential of the rising biosimilar market by investing in their research and development (R&D) processes to support the research and production process of new biosimilars.

Segments:
1) By Drug Type: Monoclonal Antibody, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF)
2) By Cancer Type: Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer, Other Cancer Types
3) By Distribution Type: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy

Geographical Insights: North America Leading The Market
North America was the largest region in the global oncology biosimilars market in 2023. Middle East is expected to be the fastest-growing region in the oncology biosimilars market report forecast period. The regions covered in the oncology biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Oncology Biosimilars Market Definition
Oncology biosimilars refer to biologically similar drugs or medications that are physiologically comparable to biological cancer treatments. Infection risk is increased by decreased white blood cell counts, which can be treated as a side effect of cancer therapy.

Oncology Biosimilars Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Oncology Biosimilars Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on oncology biosimilars market size, oncology biosimilars market drivers and trends, oncology biosimilars market major players, oncology biosimilars competitors' revenues, oncology biosimilars market positioning, and oncology biosimilars market growth across geographies. The oncology biosimilars market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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