Herceptin is a specific type of monoclonal antibody, which is generally used to treat patients who are suffering from metastatic (spread) breast cancer & gastric cancers. It is also used as a part of the chemotherapy treatment for adjuvant-treatment of lymph-node positive, HER2/neu protein positive breast-cancer. Herceptin is also acknowledged as trastuzumab and primarily administered intravenously in the cancer patients. Its dose given to the patients is assessed on the basis of patients’ disease history and other physiological factors for instance weight, height and type of cancer or disease condition. Rising prevalence of gastric cancers including metastatic gastric cancer is a key factor likely to drive the growth of global herceptin biosimilar market. Moreover, new product launches along with various products in the pipeline for clinical trials, growth in technological advancements, approval of new Herceptin biosimilar drugs by key companies and growth in healthcare expenditure drive the Herceptin-Biosimilar market.
As per analysis, Global Herceptin Biosimilar Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread). Some of the key companies operating in the global Herceptin Biosimilar market include Gedeon Richter, The Instituto Vital Brazil, Amgen, Mylan, Genor Biopharma, Celltrion, AryoGen Biopharma, Mabion and among others. Well-organized companies focus on achieving product-approvals to maintain their position in the global herceptin-biosimilar market. Furthermore, these companies are focused on introducing novel products to fortify their product-portfolio in the global herceptin-biosimilar market.
By types, Herceptin Biosimilar market can be bifurcated as tablets, capsules and others. In addition, by application, market can be bifurcated as healthcare & pharmaceutical and others. Healthcare & pharmaceutical segment is projected to exhibit substantial growth rate because of growth in healthcare infrastructure provided by hospitals for instance intensive care units (ICU) & ventilators and rise in the number of patients admitted to hospitals & clinics for treatment during the forecast period.
Increase in awareness regarding cancer treatment, followed by growth in focus on the development of Herceptin therapeutic biosimilars, increase in research & development (R&D) activities and rise in incidence of cancers are some major factors, which are responsible for growth of the Herceptin Biosimilar market. Apart from this, strict regulations regarding the approval of Herceptin biosimilars and adverse effect related caused by Herceptin biosimilars may impact the market.
Based on regional analysis, the North-America is a leading region in global Herceptin Biosimilar market owing to presence of large number of key players, rapid adoption of Herceptin biosimilars, increase in favorable reimbursement policies, rise in government grants & funding and high healthcare expenditure across the region. The Europe and Asia-Pacific regions are anticipated to witness higher growth rate due to increase in number of breast cancer, introduction of new Herceptin biosimilars and rise in focus on the development of Herceptin therapeutic biosimilars over the forecast period. It is predicted that future of the global Herceptin Biosimilar market will be bright on account of increase in patient pool and growth in advancement in healthcare industry during the forecast period.
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Ankur Gupta, Head Marketing & Communications