The global trastuzumab biosimilars market size is expected to grow from $2.08 billion in 2021 to $2.64 billion in 2022 at a compound annual growth rate (CAGR) of 27.1%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The trastuzumab biosimilar market is expected to reach $6.90 billion in 2026 at a CAGR of 27.1%.
What is the Global Trastuzumab Biosimilars Market?
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.
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What drives the Global Trastuzumab Biosimilars Market?
The rising prevalence of breast and gastric cancer contributed to the growth of the trastuzumab biosimilar market. Trastuzumab biosimilar is used in the treatment of human epidermal growth factor receptor 2 (HER2) overexpressing breast cancer and metastatic gastric cancer. According to the World Health Organization (WHO), breast cancer affected 2.3 million women globally in 2020, with 685 000 fatalities. According to Cancer India, breast cancer is the most common cancer in women in India and accounts for 14% of the cancers in women. Therefore, the rising prevalence of breast and gastric cancer increases the demand for trastuzumab biosimilar that helps save money when compared to expensive medicines, thereby driving the market.
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Global Trastuzumab Biosimilars Market Segments
The global trastuzumab biosimilars market is segmented:
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 regions covered in the trastuzumab biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Trastuzumab Biosimilars Global Market Report 2022provides market size and growth forecasts for the global trastuzumab biosimilars market, global trastuzumab biosimilars market share, trastuzumab biosimilars market segments and geographies, trastuzumab biosimilars market competitive landscape including 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.
Global Trastuzumab Biosimilars Industry Playersinclude Amgen Inc., Pfizer Inc, Samsung Bioepis, Merck & Co., Biocon Limited, Mylan Inc., BioXpress Therapeutics, Celltrion, Teva Pharmaceutical Industries Ltd. and EirGenix, Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
