Published by Wanda Rich
Posted on April 23, 2025
The global oncology biosimilars market is expected to surge nearly 3x across the 2022-2032 forecast period, reaching US$ 12 Billion. As of 2022, the market is expected to garner a valuation of US$ 4.2 Billion. Advancements in cancer research to develop breakthrough therapeutics and diagnostics is expected to impel market growth in the future.
From 2015 to 2021, sales of oncology biosimilar drugs flourished at a CAGR of 9%, closing at a value of US$ 4 Billion. The increased incidences of cancer, such as lung cancer and breast cancer, a susceptible ageing population, and an increase in research and development efforts done by numerous pharmaceutical firms have all led to the expansion of the oncology biosimilars market.
Additionally, increased patient awareness, advancements in therapeutic approaches, and the high cost of biologic medications are all factors influencing the demand for oncology biosimilars. Conversely, product recalls, allied with restrictive regulations, are factors inhibiting the growth of this sector. Because of the increasing frequency of cancer and the increase in the number of FDA-approved medications, North America has seen a good expansion in the oncology biosimilars market throughout the anticipated period.
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Key Takeaways from the Market Study
“Oncology clinical research has gained traction in recent years, and this trend has resulted in the discovery of various unique medications. Medical experts have paid close attention to leukemia research in particular. Given the aforementioned considerations, the worldwide oncology biosimilars market will gain traction in coming years,” says a Fact.MR Analyst.
Competitive Landscape
The worldwide market for oncology biosimilars is a highly consolidated market. The top five market participants jointly account for more than 70% of the market share. To expand their market footprints, these companies rely heavily on active collaborations to boost their product distribution networks.
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Key Segments Covered in the Oncology Biosimilars Industry Report
Oncology Biosimilars by Drug
Oncology Biosimilars by Disease Indication
Oncology Biosimilars by Distribution Channel
Oncology Biosimilars by Region
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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