Oncology Biosimilars Global Market Report 2024

The oncology biosimilars market size has grown exponentially in recent years. It will grow from $6.9 billion in 2023 to $8.85 billion in 2024 at a compound annual growth rate (CAGR) of 28.3%. The growth observed in the historical period can be attributed to several factors, including an increased prevalence of cancer cases, patent expirations of biologic cancer drugs, governmental support for biosimilars, heightened investments in the development and manufacturing of biosimilar medications, and the widened global accessibility of biosimilar treatments.

The oncology biosimilars market size is expected to see exponentially grown in the next few years. It will grow to $16.48 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. Anticipated growth in the forecast period is driven by several factors, including the expansion of oncology biosimilar portfolios, a shift towards patient-centric care models, efforts to contain healthcare costs, the emergence of targeted therapies, and the continual growth of pipelines in this field. Major trends expected during this period encompass the development of biobetters (enhanced versions of existing biologic drugs), combinations of oncology biosimilars, the introduction of biosimilars for supportive care, and the utilization of real-world evidence to support advancements in this domain.

The expiration of patents on biologics utilized in cancer treatment is spurring the development of new oncology biosimilars. Biologics, derived from living organisms, have a limited patent lifespan, creating opportunities for the emergence of biosimilars similar but not identical alternatives to biologics that offer comparable effectiveness at reduced costs. Nearly 20 patents for oncology biologics are set to expire by 2023, prompting the production of new oncology biosimilars. This increased patent expiration rate is anticipated to drive demand for these biosimilars, fueling growth in the oncology biosimilars market.

Government initiatives aimed at combating cancer are poised to propel growth in the oncology biosimilars market. These initiatives denote actions or policies introduced by government bodies at various levels to address specific issues or achieve particular objectives. Efforts to reduce cancer rates create an environment conducive to the development and adoption of oncology biosimilars. For instance, in 2022, President Biden announced the revitalization of the Cancer Moonshot, setting new goals to halve the cancer death rate within 25 years and enhance the lives of cancer patients and survivors. This initiative marshals federal resources to accelerate cancer research, fostering improved prevention methods. Hence, government-led endeavors to combat cancer stimulate the oncology biosimilars market. Pharmaceutical firms are increasingly channeling investments into research and development (R&D) to produce new oncology biosimilars. These companies recognize the burgeoning potential in the expanding biosimilar market and are bolstering their R&D capabilities to facilitate the research and production of novel biosimilars. For instance, in February 2021, Coherus and Junshi Biosciences announced a collaboration, with Coherus acquiring the rights to toripalimab, an anti-PD-1 antibody in the US and Canada. Coherus intends to bolster its immuno-oncology portfolio using revenues generated from its commercial biosimilar endeavors.

Major players in the oncology biosimilars sector are directing investments toward cancer drugs to combat the disease. Their investments serve as a critical link between top-tier cancer care and sustainable healthcare solutions. For example, in March 2023, Pfizer, in a merger with Seagen, invested $43 billion to combat cancer. This move enhances Pfizer's presence in the oncology field, contributing significantly to the fight against cancer, a primary global cause of mortality.

Major companies operating in the oncology biosimilars market include Biocon Biologics Limited, Celltrion Inc., Dr. Reddy's Laboratories Ltd., Intas Pharmaceuticals Ltd., STADA Arzneimittel AG, Pfizer Inc., Apotex Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, BIOCAD, Amgen Inc., F. Hoffmann-La Roche, Baxter International Inc., Sanofi SA, Mylan, Samsung Bioepis, Biogen International GmbH, Merck & Co. Inc., Coherus Biosciences, Eli Lilly and Company, Novartis AG, Shanghai Henlius Biotech, Viatris Inc., Catalent Inc., Patheon, Accord Healthcare Ltd., Zydus Cadila Health Care Limited, Hetero Drugs Limited, Mundipharma International Limited, Mabion SA, Polpharma Biologics, Alvotech, Innovent Biologics, Gan & Lee Pharmaceuticals, Henlius Biotech.

North America was the largest region in the global oncology biosimilars market in 2023. Middle East is expected to be the fastest-growing region in the oncology biosimilars market report forecast period. The regions covered in the oncology biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the oncology biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The oncology biosimilars market consists of sales of Ogivri, Herzuma, Ontruzant, and Trazimera. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Within oncology biosimilars, key drug types include monoclonal antibodies, immunomodulators, hematopoietic agents, and granulocyte colony-stimulating factor (G-CSF). Immunomodulators primarily target pathways involved in treating multiple myeloma and several other cancers. These treatments are utilized for various cancer types such as breast cancer, colorectal cancer, blood cancer, neutropenia cancer, and non-small cell lung cancer. They are typically distributed through hospital pharmacies, retail pharmacies, and online pharmacy channels.

The oncology biosimilars market research report is one of a series of new reports provides oncology biosimilars market statistics, including oncology biosimilars industry global market size, regional shares, competitors with an oncology biosimilars market share, detailed oncology biosimilars market segments, market trends and opportunities, and any further data you may need to thrive in the oncology biosimilars industry. This oncology biosimilars market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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