The trastuzumab biosimilar market consists of the sales of trastuzumab biosimilar and related services by entities (organizations, sole traders, and partnerships) that manufacture trastuzumab biosimilar. Trastuzumab is a monoclonal antibody that interferes with human epidermal growth factor receptor (HER2). Trastuzumab biosimilars are used mainly for the treatment of breast cancer and gastroesophageal junction adenocarcinoma or metastatic gastric.
The global trastuzumab biosimilars market is expected to decline from $1.27 billion in 2019 to $1.25 billion in 2020 at a compound annual growth rate (CAGR) of -1.50%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.12 billion in 2023 at a CAGR of 35.50%.