Biosimilars Market Expected To Reach A Value Of $42 Billion By 2026 Due To The Rise In Number Of Cancer Cases Across The Globe As Per The Business Research Company’s Biosimilars Global Market Report 2022

LONDON, June 22, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the biosimilars market, the rise in the number of cancer cases across the globe contributed to the growth of the biosimilars market during the historic period. The prevalence rate in oncology is observed to be highest amongst the elderly population. Cancer is the second major cause of death, accounting for around 1 in 6 deaths due to cancer worldwide. According to the American Cancer Society, in 2022, there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the USA. About 70% of deaths from cancer occur in low- and middle-income countries. G-CSF is a class of growth factor that produces white blood cells in the bone marrow to minimize the risk of infection and sepsis. In cancer patients, G-CSF accelerates recovery and reduces mortality from neutropenia after chemotherapy for cancer. It can also reduce infection after certain forms of cancer treatment. Pegfilgrastim-jmdb (Fulphila), Trastuzumab-pkrb (Herzuma), Trastuzumab-anns (Kanjinti), Bevacizumab-awwb (Mvasi), Filgrastim-aafi (Nivestym), Trastuzumab-dkst (Ogivri), Trastuzumab-dttb (Ontruzant), are some biosimilars approved by the US-FDA. Therefore, the increasing prevalence of cancer is expected to drive the growth of the biosimilars market.

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The global biosimilars market size is expected to grow from $15.67 billion in 2021 to $19.10 billion in 2022 at a compound annual growth rate (CAGR) of 21.8%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biosimilar market is expected to reach $42.30 billion in 2026 at a CAGR of 22%.

The biosimilars market trends include the rising demand for biosimilars to treat chemotherapy-related neutropenia in cancer patients owing to the cost effectiveness of the treatment and the equivalent efficiency of the biosimilars to biological drugs. For instance, according to a comparative study conducted to understand the cost efficiency of filgrastim biosimilars, it was concluded that prophylaxis or treatment of febrile neutropenia with Zarzio is cost-efficient under all possible treatment scenarios relative to Neupogen and Neulasta. It was seen that the cost of Neupogen treatment ranged from $151 (1 day) to $2114 (14 days), compared to $112 and $1575 for Zarzio, thus yielding potential cost savings of $39 to $540 for the latter.

Major players in the biosimilars market are Pfizer, Amgen, Biocon, Celltrion, Dr. Reddy’s Laboratories, Boehringer Ingelheim, Elli Lilly and Company, Mylan N.V., Sanofi, STADA Arzneimittel, Sandoz International, Samsung Bioepis, Teva Pharmaceuticals, Apotex, AMEGA Biotech S.A., Bioton S.A., Innovent Biologics International, Allergan plc, BioXpress Therapeutics, 3SBio, Intas Biopharmaceuticals, Lupin Merck, Novartis, Ratiopharm, Wockhardt, Zydus Cadila, Allergan Plc., Hospira International., Actavis International., Johnson & Johnson and Roche.

The global biosimilars market is segmented by product into recombinant non-glycosylated proteins, recombinant glycosylated proteins; by type into human growth hormone, erythropoietin, monoclonal antibodies, insulin, interferon, granulocyte-colony stimulating factor, others; by application into oncology, chronic and autoimmune diseases, growth hormone deficiency, infectious diseases, others.

North America was the largest region in the biosimilars market in 2021. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Biosimilars Market 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide biosimilars market overviews, biosimilars market analyze and forecast market size and growth for the whole market, biosimilars market segments and geographies, biosimilars market trends, biosimilars market drivers, biosimilars market restraints, biosimilars market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.

The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Oncology Biosimilars Global Market Report 2022 – By Drug Type (Monoclonal Antibody, Immunomodulators, Hematopoietic Agents, Granulocyte Colony-Stimulating Factor (G-CSF)), By Cancer Type (Breast Cancer, Colorectal Cancer, Blood Cancer, Neutropenia Cancer, Non-Small Cell Lung Cancer), By Distribution Type (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) – Market Size, Trends, And Global Forecast 2022-2026

G-CSF (Granulocyte Colony Stimulating Factors) Global Market Report 2022 – By Type (Lenograstim (Granocyte), Filgrastim (Neupogen, Zarzio, Nivestim, Accofil), Long Acting (Pegylated) Filgrastim (Pegfilgrastim, Neulasta, Pelmeg, Ziextenco), Lipegfilgrastim (Lonquex)), By Application (Oncological Diseases, Blood Disorders, Growth Hormone Deficiencies, Chronic And Autoimmune Disorders, Others), By Product: Tablet, Capsule, Others) – Market Size, Trends, And Global Forecast 2022-2026

Filgrastim Biosimilars Global Market Report 2022 – By Application (Oncology, Chronic And Autoimmune Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), By Type Of Manufacturing (In-House Manufacturing, Contract Manufacturing Organization) – Market Size, Trends, And Global Forecast 2022-2026

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