Outlook of the global oncology biosimilars market

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.

End-user segmentation of the oncology biosimilars market

• Retail pharmacies
• Hospitals

At present, the retail pharmacies segment dominates this market and accounts for a market share of approximately 52%. Retail pharmacies provide a broad customer base for biosimilar drugs. The widespread availability of biosimilars in retail pharmacies for use in the hospital setting will help in the growth of this market segment during the forecast period.

Geographical segmentation of the oncology biosimilars market

• Americas
• APAC
• EMEA

In terms of geography, the EMEA region will be the largest market for oncology biosimilars during the forecast period. The market in this region will grow profoundly at a CAGR of over 31% and the prospects for market growth in this region will be driven by factors like the presence of well-defined regulatory guidelines, increasing geriatric population, and the patent expiries of biologics. Also, the presence of a strong generic culture in this region will spur the prospects for market growth until the end of 2020.

Competitive landscape and key vendors

The global oncology biosimilars market will have tremendous potential for growth during the forecast period. However, the high costs involved in developing and launching biosimilar products is expected to limit the number of players entering into this market. In this market, the companies range in size from small start-ups to major biopharmaceutical manufacturers.

Key vendors in this market are -

• Biocon
• Celltrion
• Dr Reddy's Laboratories
• F Hoffmann-La Roche
• Hospira
• Mylan
• Sandoz

Other prominent vendors analysed in this market study are AbbVie, Allergan, Amgen, AstraZeneca, Baxter, Biogen, BioXpress Therapeutics, Boehringer Ingelheim, Cipla, Coherus BioSciences, Coherus BioSciences, Daiichi Sankyo, Emcure Pharmaceuticals, GlaxoSmithKline (GSK), Intas Pharmaceuticals, Merck, Pfizer, Sanofi, 3SBio, and Wockhardt.

Key questions answered in the report include

• What will the oncology biosimilars size and the growth rate be in 2020?
• What are the key factors driving the global oncology biosimilars market?
• What are the key oncology biosimilars trends impacting the growth of the market?
• What are the challenges to market growth?
• Who are the key vendors in the global oncology biosimilars market?
• What are the market opportunities and threats faced by the vendors in the global oncology biosimilars market?
• What are the trending factors affecting the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global oncology biosimilars market?

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