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The global oncology biosimilars market will witness significant growth over the forecast period and is anticipated to grow at an impressive CAGR of around 31% during the forecast period. The growing need for cost-effective treatment methodologies will aid in the steady growth of this market during the forecast period. The high cost of branded biologic oncological drugs will compel patients to shift toward biosimilars as they are highly cost-effective. Since biosimilars cost 10%-30% lower than their parent counterparts, there is the presence of unmet medical needs for such products. This enables domestic manufacturers to market generic versions of the biologic compounds at a lower price, which in turn results in market growth.
Technavio’s market research analyst has estimated factors like the advent of new biosimilars to impel market growth during the forecast period. Unlike generic drugs, which have APIs that are identical to original drugs, biosimilars are similar to their originator biologic compounds. Biosimilars developed by different manufacturers differ from the original product as well as from each other. Since they are less expensive than biologics, patients will be able to afford and access biosimilars more easily than biologics.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Overview of cancer
PART 06: Biosimilars industry
PART 07: Global pharmaceutical market
PART 08: Market landscape
PART 09: Market segmentation by end-user
PART 10: Market segmentation by application
PART 11: Geographical segmentation
PART 12: Key leading regions
PART 13: Market drivers
PART 14: Impact of drivers
PART 15: Market challenges
PART 16: Impact of drivers and challenges
PART 17: Market trends
PART 18: Vendor landscape
PART 19: Appendix
PART 20: Explore Technavio
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