DELHI, India, Aug. 04, 2021 (GLOBE NEWSWIRE) -- "US Cancer Biosimilar Market Opportunity, Drug Dosage, Price & Clinical Trials Insight 2026" Report highlights:
- US Cancer Biosimilar Market Opportunity: > US$ 15 Billion By 2026
- Currently 29 Cancer Biosimilar Approved In US Market
- Pricing & Dosage Insight On More Than 10 Cancer Biosimilar Commercially Available In US Market
- Cancer Biosimilar In Clinical Trials: > 10 Biosimilars
- Comprehensive Insight On Cancer Biosimilar Clinical Trials Insight By Company & Indication
- Insight On 15 Potential Cancer Biosimilars Market Opportunity By Popular Drugs Patent Expiry: Erbitux, Vectibix, Yervoy, Trodelvy, Perjeta, Gazyva, Darzlex, Xgeva, Cyramza, Kadcyla, Opdivo, Tagraxofusp, Tecentriq, Keytruda, Imfinzi
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The advancement in the field of science and technology has led to better understanding about the progression of cancer and thus aid in the development of more targeted therapies. In recent times, biological therapy in cancer have constituted a major share in the overall cancer therapeutics market owing to their high specificity towards cancer cells and less associated side effects. Biological therapies generally comprise interleukins, interferons, monoclonal antibodies, vaccines and so on. These therapies utilize the body’s immune system directly or indirectly to target the cancer cell.
The advent of biological therapies have shown to significantly improve the survival rates in cancer patients but are also associated with high costs which is generally inaccessible and increases financial toxicity on patients. A biosimilar is a biologic product that is highly similar to the original reference drug, which has already been approved by the regulatory bodies. These are highly similar to the reference products in terms of safety, purity, dosage, mechanism of action and potency. However, the biosimilars come into action when the patent exclusivity rights of branded drug end in a region.
For several years, US has been leading the pharmaceutical industry due to presence of large pharmaceutical companies as well as high adoption rate of novel therapies. In US, there are about 10 cancer biosimilars commercially available in the market which has shown high adoption rates among individuals. The US cancer biosimilar market is mainly concentrated by three drugs namely Avastin, Herceptin and Rituximab. Currently, Herceptin faces the most challenge due to the approval of 5 biosimilars which are available in the market followed by Rituximab which has 3 approved biosimilars available. As per our analysis, the US cancer biosimilar market is expected to observed high growth rates owing to potential cost savings by biosimilars in the region.
In addition to this, the looming patent expiry of the biologic drug encourages the competition among the pharmaceutical companies to launch cost-efficient biosimilar in the market. In US, several pharmaceutical companies including Amgen, Roche, Celltrion, Pfizer, Teva Pharmaceuticals and other continuously indulge in research and development activities for boosting the biosimilar market in the region. In coming years, patents of several blockbuster drugs including Opdivo, Keytruda and others are expected to occur during the forecast period which will open opportunities for the development of biosimilars, thus boosting the growth of market.
Despite several favorable parameters, the market will be restricted by various challenges including lack of education, long time taken by the bioprocessing of drugs and the lack of interchangeability. However, the rising initiatives by government which aim to educate the patients as well as physicians will boost the growth of market. In addition, the rising geriatric population and environmental degradation will increase the prevalence of cancer, which possess high unmet need for cost effective targeted therapy in the management of cancer. As per report findings, the US cancer biosimilar market opportunity is expected to surpass USD 15 Billion by 2026.
Contact:
Neeraj Chawla
Research Head
+91-981410366
neeraj@kuickresearch.com
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