Biosimilars are the fastest-growing class of therapeutic products across the globe. Biosimilars are biologics that serves as interchangeable products offering additional treatment options to a branded drug counterpart, potentially reducing the cost of the prescribed biologics.
The biosimilar therapies have been for chronic disease management and supportive care since a few years, however the use of these biosimilars are expected to be applied soon for treatment of various types of cancers referred to as oncology biosimilars.
biosimilars for cancer treatment in the market as well as rapid approval by regulatory authorities for commercialization of these products. However, high costs involved in the research and complexity involved in the formulation of these biologics are likely to hinder market growth.
Oncology Biosimilars Market is segmented on the basis of product, cancer type, and distribution channel. On the basis of product, the global oncology biosimilars market is segmented into monoclonal antibodies, Immunomodulators, and others. On the basis of cancer type, the global oncology biosimilars market is segmented in to lung cancer, colorectal cancer, cervical cancer, breast cancer, kidney cancer, stomach cancer, brain cancer, and others. On the basis of distribution channel, the oncology biosimilars market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies.
The key players operating in the Oncology Biosimilars industry include, Biocon, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Amgen Inc., Intas Pharmaceuticals Ltd., Pfizer Inc., Sandoz International GmbH (A Novartis Division), Teva Pharmaceutical Industries Ltd., Mylan N.V., and BIOCAD among others.