Biosimilar is biological medicine that is profoundly similar version of already approved biological agent known as originator or reference product and authorized for use in same manifestation as the indicator product. Biosimilar is precisely designed to have particular pharmaceutical active ingredient same as indicator product. The presence of biosimilars facilitates chances of lowering health care expenses as consequence of inherent price competition with the reference product. Biosimilars in oncology are highly similar to biologics of oncology produced by different prominent pharmaceutical companies and have been officially permitted for treatment of cancer.
Market Growth Factors
The comparatively easy manufacturing of biosimilars and after expiration of many generic products acquiring licence for production of biosimilars is acting in favor of the global oncology biolsimilars market. Highly expensive branded biologic oncological drugs will shift the patients towards biosimilars as they are relatively cost-effective and increased prevalence of cancer will help in propelling the market growth in coming future. Nevertheless, regulatory approval demands equivalent analytical and clinical studies to present no clinically meaningful contrast between indicator product and biologics. These stringent criteria might hinder the growth of global oncology market. Pharmaceutical companies across the globe are aiming to produce biosimilars that can deal with the cancer at different stages providing similar efficacy and potency as indicator product at cheaper cost gives an opportunity to expand the market.
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On the basis of drug class the global oncology biosimilars market is segmented into G-CSF, Monoclonal antibody and haematopoietic agents. In terms of revenue G-CSF drug class segment pulls in highest revenue dominating the market share of the global oncology biosimilars market. This segment is leading owing to robust pipeline of oncology biosimilars of key market players in the market. Considering disease indication the market has been divided into breast cancer, colorectal cancer, neutropenia, blood cancer, non-small cell lung cancer and others. Blood cancer section has been further bifurcated into non-Hodgkin Lymphoma and Leukaemia. Out of all neutropenia led the market high as there are much expiration of prominent oncology biologics and continuous attempts by government to make available economical medicines to patients. Based on distribution channel the market is classified into hospital pharmacies, retail pharmacies and online pharmacies.
Based on geography market is analysed across-
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South Africa
o Rest of the LAMEA
Asia-Pacific will have strong foothold in the global oncology biosimilars market owing to increased spread of cancer, activities like merger, acquisition in this particular region for development and commercialization of biosimilars. Furthermore European countries such as Spain, Italy, UK, Russia and France are anticipated to witness the lucrative growth. Growth of market in this region is attributed to well established & mature market of biosimlilars, increased geriatric population and soon expiries of biologics that will go off-patent.
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The major players dominating the market are-
- Sandoz International GmbH
- Dr. Reddy’s Laboratories Ltd.
- Teva Pharmaceutical Industries Ltd
- Celltrion Inc.
- STADA Arzneimittel AG
- and Intas Pharmaceuticals Ltd
Recently on January 29, 2018 two leading pharmaceutical companies’ Biocon and Mylan came into collaboration approved by European Union to possess strong portfolio of biosimliars and insulin analogous. Out of three insulin analogue glargine is the one that has been co-developed by the collaboration of Mylan and Biocon that will be available for global marketplace.
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