Trastuzumab Biosimilar Market size is poised to witness lucrative growth rate during the forecast period i.e., between 2024-2036.
Extensive research associated with cancer treatment in western countries, along with the growing investment in the development of advanced therapies are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increasing geriatric population and changing lifestyle. According to the data collected from World Health Organization, in 2020, cancer was the leading cause of death worldwide, accounting for nearly 10 million deaths.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
Regional Scope |
|
The trastuzumab biosimilar market is segmented based on application type into breast cancer, colorectal cancer, leukemia, and others, out of which, the breast cancer segment is anticipated to grab the largest share by the end of 2021 on account of increasing incidence and increasing prevalence of breast cancer globally. Moreover, colorectal cancer segment is also projected to contribute to the growth of the segment during the forecast period due to the rising incidence in colon and rectal cancer worldwide. According to World Health Organization, the most common in 2020 (in terms of new cases of cancer) were breast cancer (2.26 million cases), followed by colon and rectum cancer (1.93 million cases) on the third number.
On the basis of distribution channel, the offline segment in the global trastumuzab biosimilar market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the presence of retail and hospital pharmacies and an expanded customer base. Although, online segment is also expected to contribute to the market due to increasing dependence on e-commerce platforms and rising internet penetration.
Our in-depth analysis of the global market includes the following segments:
|
By Application Type |
|
|
By Distribution Channel |
|
Geographically, the trastuzumab biosimilar market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Europe industry is estimated to account for largest revenue share by 2036, owing to increasing prevalence of breast cancer, strong clinical pipeline, increasing research and drug development activities propels market growth in the region. Furthermore, in 2021, the market in Asia Pacific is evaluated to occupy the largest share in terms of revenue, Asia Pacific is a promising revenue contributor which is expected to grow at rapid pace in upcoming year. Countries such as Japan, India and China are major contributors to the growth of this market. Emerging and huge population base countries such as China and India offer tremendous trastuzumab biosimilar market opportunities due to investments for trastumuzab biosimilar research. As per the analysis of World Health Organization, cancer accounts for 20% of deaths in the European Region.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?