Pune, Jan. 25, 2024 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global Trastuzumab Biosimilars Market is expected to clock US$ 17.90 billion by 2031 and to grow at a CAGR of 27.3% during the forecast period.
The global Trastuzumab Biosimilars Market is witnessing significant growth, driven by the increasing prevalence of HER2-positive cancers, the need for cost-effective cancer treatments, and the growing acceptance of biosimilars in oncology. A comprehensive analysis of the market reveals a landscape focused on expanding patient access to trastuzumab, a critical drug in the treatment of certain cancers.
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Trastuzumab Biosimilars Market Scope
| Report Attribute | Details |
| Market Size Value in 2021 | US$ 2.04 billion |
| Revenue Forecast in 2030 | US$ 17.90 billion |
| CAGR | 27.3% |
| Base Year for Estimation | 2021 |
| Forecast Period | 2022-2030 |
| Historical Year | 2020 |
| Segments Covered | Product, Indication, Distribution Channel, and Region |
| Regional Scope | North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
Market Overview:
Trastuzumab biosimilars represent bioequivalent alternatives to the originator trastuzumab, a monoclonal antibody used in the treatment of HER2-positive breast cancer and other HER2-positive cancers. The market is experiencing rapid expansion as biosimilar versions of trastuzumab offer comparable efficacy, safety, and quality at a more affordable cost, addressing the global demand for cost-effective cancer therapies.
Key Market Drivers:
- Rising Prevalence of HER2-Positive Cancers: The increasing incidence of HER2-positive breast cancer and other HER2-positive cancers is driving the demand for trastuzumab biosimilars. These biosimilars play a crucial role in expanding treatment options for patients while offering cost savings to healthcare systems.
- Cost-Effectiveness and Affordability: Trastuzumab biosimilars contribute to cost savings in cancer treatment, making this life-saving therapy more affordable for a broader patient population. The economic advantage of biosimilars is a key factor in their adoption, especially in regions facing budget constraints in healthcare.
- Growing Acceptance of Biosimilars in Oncology: The increasing acceptance and confidence in biosimilars, both among healthcare professionals and patients, are propelling the growth of the trastuzumab biosimilars market. Regulatory approvals and supportive policies are further facilitating the market penetration of these cost-effective alternatives.
Competitive Landscape:
The global Trastuzumab Biosimilars market features a competitive landscape with key players contributing to market growth. The report profiles major companies, offering insights into their product portfolios, market share, regulatory strategies, and recent developments.
Challenges and Opportunities:
While the Trastuzumab Biosimilars market presents significant opportunities, challenges such as the complexity of biosimilar development, regulatory scrutiny, and the need for healthcare professional education exist. However, the potential for market expansion, ongoing research and development, and strategic collaborations offer avenues for growth.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL TRASTUZUMAB BIOSIMILARS MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Ogivri
- Herzuma
- Ontruzant
- Trazimera
- Kanjinti
- Others
- GLOBAL TRASTUZUMAB BIOSIMILARS MARKET - ANALYSIS & FORECAST, BY INDICATION
- Breast Cancer
- Adjuvant Breast Cancer
- Metastatic Breast Cancer
- Metastatic Gastric Cancer
- Colorectal Cancer
- Others
- Breast Cancer
- GLOBAL TRASTUZUMAB BIOSIMILARS MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospital Pharmacies
- Online Pharmacies
- Others
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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Future Outlook:
The report provides a forward-looking perspective on the Automated Suturing Devices market, offering insights into potential growth opportunities, emerging trends, and factors that could shape the market in the coming years. With the continuous evolution of surgical technologies and the increasing adoption of automated suturing devices, the global market is poised for sustained growth.
In conclusion, the report serves as a valuable resource for industry stakeholders, providing a comprehensive analysis of market trends, challenges, and opportunities. As healthcare providers prioritize efficiency and precision in surgical procedures, the demand for automated suturing devices is expected to remain strong, contributing to advancements in surgical care.
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About Us:
Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).
Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.
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