Global Herceptin Biosimilar Market, by Indication (Breast Cancer, Gastric Cancer, and Others), by Distribution Channel (Hospital, Oncology Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1.3 billion in 2020 and is expected to exhibit a CAGR of 24.5 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global herceptin biosimilar market is expected to witness significant growth as key players are focusing on product approvals and launches for treatment breast cancer and gastric cancer. For instance, in 2019, Mylan L.V and Biocon Limited launched trastuzumab biosimilar, Ogivri, which was approved by the U.S. Food Drug and Administration in the U.S. Ogiviri is used for treatment of HER2-positive breast and gastric cancer patients.
Moreover, 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.
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Global Herceptin Biosimilar Market – Impact of Coronavirus (COVID-19)
The COVID-19 pandemic has drastically affected each and every market around the globe and it is expected to affect the global herceptin biosimilar market as follows:
The outbreak of COVID-19 is affecting the oncology treatment procedures and therefore government regulating bodies have implemented some guidelines to slow the spread of COVID-19 infection. The US National Library of Medicine’s report published in July 2020 recommended guidelines that should be followed by healthcare professionals and clinical technicians while performing oncology treatments. Some of the important guidelines are as follows:
All oncology diagnostic procedures should be divided into urgent and not-urgent categories, and if urgent category then a defined diagnostic plan should be properly established to avoid risk of spreading coronavirus infection.
All surgical procedures and chemotherapy regimens in case of breast cancer patients should be programmed depending upon severity of the patients and severity of patients is categorized into urgent priority, surgery within two weeks, high priority, surgery within four weeks, medium priority, surgery within eight weeks, low priority, surgery after eight weeks allowed.
Oncology Breast Care Centres should undertake the consideration of delaying the radiotherapy treatment depending upon the patient condition.
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Browse 33 Market Data Tables and 32 Figures spread through 175 Pages and in-depth TOC on “Global Herceptin Biosimilar Market, by Indication (Breast Cancer, Gastric Cancer, Others), by Distribution Channel (Hospital, Oncology Centers, Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
The market is expected to gain significant growth during the forecast period, as various key companies are focusing on product launches to strengthen their positioning in herceptin biosimilar market. For instance, September 2020, Accord Healthcare Ltd, launched the biosimilar of trastuzumab (Zercepac) indicated for the treatment of patients suffering from with HER2-positive early breast cancer, previously untreated HER2-positive metastatic gastric cancer and HER2-positive metastatic breast cancer. Zercepac will be available with dose strength of 150mg single dose vial and approved by European Commission in Europe.
Key Takeaways of the Global Herceptin Biosimilar Market:
The global herceptin Biosimilar market is expected to exhibit a CAGR of 24.5% during the forecast period owing to increase in prevalence of cancers such as breast cancer, colorectal cancer and gastric cancer globally.
On the basis of indication, the breast cancer segment is expected to hold a dominant position in the Herceptin Biosimilar market in 2020 owing to the increasing prevalence of cancers such as breast and colorectal cancers.
Key players operating in the global herceptin biosimilar market are Amgen Inc., AryoGen Biopharma, Biocon Limited, Celltrion Inc., Pfizer Inc., Merck & Co., Inc., Accord Healthcare Ltd, Gedeon Richter Plc, Genor Biopharma Company Ltd, Mabion SA, Mylan N.V, Roche Holding AG and Samsungbioepis Co,.Ltd.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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