Herceptin Biosimilar Market: Introduction
Trastuzumab, sold under the brand Herceptin, is a monoclonal antibody used to treat patients suffering from HER2+ve breast cancer and gastric cancers. It is primarily administered intravenously in cancer patients. Herceptin binds to HER2 receptors on the surface of breast cancer cells and blocks them from receiving growth signals, thereby leading to apoptosis and decrease in mutation of cells.
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Key Drivers and Restraints of Global Herceptin Biosimilar Market
Breast cancer is one of the leading causes of death among women across the globe. Increase in incidence and prevalence of gastric & breast cancer among people, especially women, is a key factor boosting the growth of the global Herceptin biosimilar market. According to a report by the World Health Organization in 2019, nearly 627,000 women across the globe succumbed to breast cancer, which accounted for around 15% of all cancer deaths among women, in 2018.
New product launches along with a number of products in pipeline for clinical trials, approval of new Herceptin biosimilar drugs by key companies, technological advancements, increase in health care expenditure, and considerable research & development activities drive the global Herceptin biosimilar market.
However, lack of awareness among people about the treatment of gastric & breast cancer with Herceptin is likely to hamper the growth of the global Herceptin biosimilar market in the next few years
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Breast Cancer to Dominate Global Herceptin Biosimilar Market
In terms of indication, the global Herceptin biosimilar market can be classified into breast cancer, gastric cancer, and others
The breast cancer segment is projected to dominate the global Herceptin biosimilar market during the forecast period due to increase in incidence and prevalence rate of breast cancer among women
Hospital Pharmacy Segment to Capture Largest Market Share
Based on distribution channel, the global Herceptin biosimilar market can be divided into hospital pharmacies, retail pharmacies, online pharmacies, oncology centers, and others
The hospital pharmacies segment is anticipated to capture the largest market share due to rise in the number of patients admitted to hospitals & clinics for treatment and health care infrastructure provided by hospitals such as intensive care units (ICU) and ventilators.
North America to Lead Global Herceptin Biosimilar Market
In terms of region, the global Herceptin biosimilar market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America accounted for the largest market of the global Herceptin biosimilar market in 2020, followed by Europe. Increase in number of people suffering from gastric & breast cancer, technological advancements, rise in government grants & funding, and presence of large number of key players boost the growth of the market in North America.
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Key Manufacturers Operating in Global Herceptin Biosimilar Market
The global Herceptin biosimilar market was highly fragmented in 2020. Key manufacturers operating in the global market are:
Amgen, Inc.
AryoGen Biopharma
Biocon Limited
Celltrion, Inc.
Pfizer, Inc.
Merck & Co., Inc.
Accord Healthcare Ltd.
Gedeon Richter plc
Genor Biopharma Company Ltd.
Mabion SA
Mylan N.V
Roche Holding AG
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