Hereceptin Biosimilars Market - Forecast(2024 - 2030)

Herceptin Biosimilars Market Overview

Report Coverage

Key Takeaways

Herceptin Biosimilars Market Size, By End-Use Industry 2020-2026 (USD Million)

   

Herceptin Biosimilars Segment Analysis – By Indication

The global Herceptin Biosimilars Market based on Indication can be further segmented into Breast Cancer, Gastric Cancer, Colorectal Cancer, Leukemia, and Others. The Breast Cancer segment is the major segment generating revenue in 2020. This is mainly owing to increasing prevalence of breast cancer in women. According to World Health Organization, in 2019 about 627,000 women are suffering from breast cancer that increases the need of monoclonal antibody and are rising the growth of this segment. The Gastric Cancer segment is estimated to register the fastest CAGR of 5.15% for the period 2021-2026. According to U.S. National Library of Medicine, in 2018 about 783,000 deaths occur owing to increasing gastric cancer that increasing the need of antibodies that contains cyclophosphamide and are increasing the growth of this segment.

Herceptin Biosimilars Segment Analysis – By End-Use Industry

The global Herceptin Biosimilars Market based on End-Use Industry can be further segmented into Hospitals, Oncology Centers, and Others. The Hospital segment registers for the highest Herceptin Biosimilars market share in 2020. This is owing to easy accessibility of hospital and higher selling capacity. Moreover, owing to availability of skilled professional patients can prefer hospitals and government is taking initiatives to develop the immune targeted therapy for the treatment of cancer in hospitals that increases the growth of this market. The Oncology Centers segment is estimated to register the fastest CAGR of 7.1% over 2021-2026. This is mainly owing to rising research and development for the treatment of cancer and increasing availability of monoclonal antibodies and are increasing the growth of this market.

Herceptin Biosimilars Segment Analysis – By Geography

North America dominated the Herceptin Biosimilars Market with major share of 40% in 2020. This is owing to increasing number of breast cancer, high healthcare expenditure and increasing favourable reimbursement policies. According to Center for Disease Control and Prevention (CDC), about 281,550 new cases of breast cancer are diagnosed in women in 2021 that increases the growth of this segment. However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 12.25% during the forecast period 2021-2026 owing to rising population and increasing development in healthcare.

Herceptin Biosimilars Market Drivers

Growing Advancement in Healthcare Industry

Growing Development in the healthcare industry and rising adoption of advanced technology that increases the growth of the Herceptin Biosimilars Market. Moreover, rising medical application for the treatment of cancer and growing innovative treatment in medical facilities are increasing the growth of Herceptin Biosimilars Market over 2021-2026.

Covid-19 Impact:

Herceptin Biosimilars Market Challenges

Presence of Alternatives

The factors that is set to impede the growth of the Herceptin Biosimilars Market are presence of alternatives treatment and increasing side effects such as diarrhoea, fever etc. is set to create hurdles for the Herceptin Biosimilars Market.

Herceptin Biosimilars Landscape

Developments

• In March 2020, Celltrion Inc. and Teva Pharmaceutical Industries Ltd launched trastuzumab biosimilar, Herzuma, approved by the U.S. Food Drug and Administration for treatment of HER2-positive breast and gastric cancers.
• In 2019, Mylan L.V and Biocon Limited launched trastuzumab biosimilar, Ogivri, which was approved by the U.S. Food Drug and Administration that are used for the treatment of HER2-positive breast and gastric cancer patients.

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