Global Trastuzumab Biosimilars Market To Reach Value Of About $3 Billion In 2023
11 Sep, 2020
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%. The rising prevalence of breast and gastric cancer contributed to the growth of the trastuzumab biosimilar market. However, the side effects of trastuzumab biosimilar are expected to limit the growth of the trastuzumab biosimilar market.
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.
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The global trastuzumab biosimilars market is further segmented based on type and geography.
By Product: Ogivri, Herzuma, Ontruzant, Trazimera, Others
By Indication: Adjuvant Breast Cancer, Metastatic Breast Cancer, Metastatic Gastric Cancer, Others
By Distribution Channel: Hospital Pharmacy, Online Pharmacy
By Geography: The global trastuzumab biosimilars market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Trastuzumab Biosimilars Market
Major players are continuously focusing on launching new products in the untapped regions, which is shaping the market for trastuzumab biosimilars. The companies operating in the trastuzumab biosimilars market are undergoing various strategic initiatives such as new product development, partnerships, geographical and product portfolio expansion to maintain their competitive position in the market and better serve the needs of the customers.
Trastuzumab Biosimilars Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides trastuzumab biosimilars market overviews, analyzes and forecasts trastuzumab biosimilars market size and growth for the global trastuzumab biosimilars market, trastuzumab biosimilars market share, trastuzumab biosimilars market players, trastuzumab biosimilars market size, trastuzumab biosimilars market segments and geographies, trastuzumab biosimilars market trends, trastuzumab biosimilars market drivers and trastuzumab biosimilars market restraints, trastuzumab biosimilars market’s leading competitors’ revenues, profiles and market shares. The trastuzumab biosimilars market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.