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Oncology Biosimilars Market: Global Industry Forecast with Market Size, Market Trends and Growth with analyst insights

The latest market report published by Credence Research, Inc. “Oncology Biosimilars Market was valued at US$ 1,651.5 Mn in 2017 expanding at a CAGR of 28.3% from 2018 to 2026.

Credence Research, the leading business intelligence provider, has published its latest research, “Oncology Biosimilars Market 2026″, which gives insights into Oncology Biosimilars in the Global market. The report determines the market size for 2018, along with forecasts until 2026. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.

Market Insight:

According to the U.S. Food and Drug Administration (FDA), biosimilar is a biological product that is highly similar to an existing, approved reference product and has no clinically meaningful differences. Biosimilars are approved according to the same standards of pharmaceutical quality, safety and efficacy that apply to all biological medicines. The number of biosimilar approvals soared in the United States as five of nine approved biosimilars across different disease conditions received U.S. FDA approval. Furthermore, U.S. witnessed the approvals of oncology biosimilars such as Amgen’s Mvasi (bevacizumab-awwb), a biosimilar to Genentech’s Avastin for the treatment of lung, colorectal, kidney, brain and cervical cancers; and Mylan’s Ogivri (trastuzumab-dkst), a biosimilar to Herceptin for treating breast cancer, gastric cancer, and gastrointestinal cancer.

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The USFDA is determined to increase biosimilar approvals, especially for cancer as cancer treatment imposes a high cost burden on patients. Although the prices of oncology biosimilars are less compared to biologics, the savings are not on the same scale as compared to generics and patented non-biological drugs. Savings of 20% – 30% compared to the reference biologic product have been observed in major markets such as Europe and North America, making biosimilars as a lucrative alternative.

Leading Players:

The prominent players actively engaged in the oncology biosimilars market are Samsung Bioepis, Celltrion Inc., Biocon, Dr. Reddy’s Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Sandoz Inc., Teva Pharmaceutical Industries Ltd., Apotex Inc., and BIOCAD.

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Scope

  • The report presents the brief overview of Oncology Biosimilars Market including business description, key information and facts, and its locations and subsidiaries
  • The report features product description and descriptive mechanism of action for key products along with the products developmental history and major milestones
  • Special feature on out-licensed and partnered product portfolio
  • The report summarizes all the dormant and discontinued projects
  • Latest company statement
  • Latest news and deals relating to the Oncology Biosimilars products

Research methodology

The following research methods were used in this report:

  • Desk study
  • A questionnaire survey among specialty retail chains
  • Analyzing statistical data released by the Federal Customs Service
  • Desk study sources include materials taken from print and online media conference materials.

Reasons to Buy

  • The report provides information about technology solutions needed for the implementation of Oncology Biosimilars projects, and allows readers to make effective business decisions
  • The report helps readers to strengthen strategic framework by understanding the business benefits to be achieved through Oncology Biosimilars solutions
  • The report highlights projected investment on Oncology Biosimilars over the next two years. This will help organizations to allocate budget towards Oncology Biosimilars implementation and business expansion
  • The report helps executives plan their adoption of Oncology Biosimilars by providing expected timeframes for implementation

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