Demand for Oncology Biosimilars Market to Grow at a CAGR of 29.4% by 2025-end

Companies in the Oncology Biosimilars Market are facing issues in keeping their production facilities fully functional due to shortage of staff and resources amidst the COVID-19 (Coronavirus) outbreak. Get a hands-on over key drivers and threats to the Oncology Biosimilars Market to make your company future-ready post the pandemic. Avails out reports for exciting prices to learn new opportunities that companies can capitalize on during and after the Coronavirus crisis.

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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 3/5^th 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.

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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.

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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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