The Global Herceptin Biosimilar Market Size was valued at USD 1,795 Million in 2021 and is predicted to be worth USD 11,287 Million by 2030, with a CAGR of 23.2% from 2022 to 2030.
The increasing number of individuals residing with gastric cancer and metastatic breast cancer is expected to stimulate demand opportunities for companies in the global Herceptin biosimilar market. Furthermore, increased research and development, as well as increased cancer therapy awareness, increase the Herceptin biosimilar market size. Additionally, rising healthcare costs and the existence of novel r&d investments provide an opportunity for Herceptin biosimilar market share. However, negative consequences caused by Herceptin biologic drugs, stringent regulations governing Herceptin biosimilar authorization, as well as the availability of alternative treatments available may limit the global Herceptin biosimilars market size.
Herceptin is the cancer medication used in the treatment of the breast cancer. It is monoclonal antibodies and are used along with the chemotherapy drugs. It is also termed as a targeted therapy drug. Trastuzumab is the one of the brand name herceptin which is administered by slow injection to a vein. In 2014, herceptin has lost the patent in Japan and Europe which has opened the gates for the development of the biosimilar to enter the market. Whereas, the patent for the drug in U.S. will expire in 2019. The companies are continuously trying to introduce the new generic drugs to expand the global Herceptin biosimilars market value.
Global Herceptin Biosimilar Market Analysis
Herceptin Biosimilar Market Report Coverage:
|Market||Herceptin Biosimilar Market|
|Herceptin Biosimilar Market Size 2021||USD 1,795 Million|
|Herceptin Biosimilar Market Forecast 2030||USD 11,287 Million|
|Herceptin Biosimilar Market CAGR During 2022 - 2030||23.2%|
|Herceptin Biosimilar Market Analysis Period||2018 - 2030|
|Herceptin Biosimilar Market Base Year||2021|
|Herceptin Biosimilar Market Forecast Data||2022 - 2030|
|Segments Covered||By Application, By End-User, And By Region
|Herceptin Biosimilar Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Amgen Inc., Biocon Limited, Merck & Co., Inc., Gedeon Richter Plc, Mabion SA, Roche Holding AG, AryoGen Biopharma, Pfizer Inc., Accord Healthcare Ltd, Genor Biopharma Company Ltd, Mylan N.V, and Samsungbioepis Co., Ltd.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
During last few years, there is a significant rise in the cancer patient pool. Increasing prevalence of the cancer and increasing demand for the targeted therapy have led to drive the Herceptin biosimilars market growth. Breast cancer is the most widely occurred cancer in the woman. According to the U.S. breast cancer Statistics, over 12.4% of the total American woman develops breast cancer in their lifetime. Changing lifestyle, increasing pollution and adoption of smoking by the people has fuelled the growth of the Herceptin biosimilars market value. As there are huge opportunity for the development of the cancer drug a number of companies are continuously investing a huge amount of capital in research and development. Increasing spending on research & development and increasing demand for the better drugs for the treatment has supported and created a huge opportunity in coming future.
On the other hand, availability of the alternative treatment and huge side effects of the drugs may slow the growth of the Herceptin biosimilars market size during the forecasted period.
Herceptin Biosimilar Market Segmentation
The global herceptin biosimilar market segmentation based on the application, end-user and geographical region.
Market by Application
According to the Herceptin biosimilar industry analysis, the breast cancer segment is predicted to lead the global market growth over the forecast. This growth is due to a rise in the prevalence and incidence of breast cancer in women. According to the World Health Organization, approximately 627,000 women will be diagnosed with breast cancer in 2019, increasing the demand for monoclonal antibodies & driving the expansion of this segment. As a result, Herceptin biosimilar market shares are influenced by these factors.
Market by End-User
In terms of end-user, hospital pharmacies are expected to hold the highest market share in 2021. This uptick is due to an increase in the number of individuals admitted to hospitals and medical centers for diagnosis, as well as hospital-provided health care infrastructural facilities such as ventilators and intensive care units (ICU).
Herceptin Biosimilar Market Regional Outlook
The Middle East & Africa (MEA)
Europe dominates the global herceptin biosimilar market value owing to the patent expiry of the drug in Europe. In 2014, herceptin biosimilar has lost the patent which has increased the market for the generics of the herceptin. Additionally, introduction of the new generics products in European market and continuous research & development in the drug discovery has boosted the growth of the market in Europe. Asia Pacific holds the second position followed by America. The Asia Pacific herceptin biosimilar market is majorly driven by rapid adoption of the herceptin biosimilar, increasing awareness about the generic products, and huge patient pool. Japan is expected to hold the major share in the market owing to the patient expiry of herceptin in 2014. However, LAMEA holds the last position in the market owing to the limited spending on the healthcare and Research & Development.
Herceptin Biosimilar Market Players
Currently limited numbers of companies are present in the market. Herceptin was developed by Roche and is still holding the patient in some of the countries. However, the companies like Pfizer, TEVA and others are continuously trying to develop the new generic drugs so as to enter in the market. With the expiry of the patent for the drug in 2019, the herceptin biosimilar market will possess a huge growth. Some of the prominent global herceptin biosimilar market companies are Amgen Inc., Biocon Limited, Merck & Co., Inc., Gedeon Richter Plc, Mabion SA, Roche Holding AG, AryoGen Biopharma, Pfizer Inc., Accord Healthcare Ltd, Genor Biopharma Company Ltd, Mylan N.V, and Samsungbioepis Co., Ltd.
The global herceptin biosimilar market size in 2021 was accounted to be USD 1,795 Million.
The projected CAGR of herceptin biosimilar during the analysis period of 2022 to 2030 is 23.2%.
The prominent players of the global herceptin biosimilar market involve Amgen Inc., Biocon Limited, Merck & Co., Inc., Gedeon Richter Plc, Mabion SA, Roche Holding AG, AryoGen Biopharma, Pfizer Inc., Accord Healthcare Ltd, Genor Biopharma Company Ltd, Mylan N.V, and Samsungbioepis Co,.Ltd.
North America held the dominating share for herceptin biosimilar during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for herceptin biosimilar during the analysis period of 2022 to 2030.
Rising prevalence and incidence of gastric and breast cancer, and strong product pipeline and approvals from leading companies are the prominent factors that fuel the growth of global herceptin biosimilar market.
Based on application, breast cancer segment held the maximum share for herceptin biosimilar market in 2021.