Global Herceptin Biosimilar Market, by Indication (Breast Cancer, Gastric Cancer, and Others), by Distribution Channel (Hospital, Oncology Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1.3 billion in 2020 and is expected to exhibit a CAGR of 24.5 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global herceptin biosimilar market is expected to witness significant growth as key players are focusing on product approvals and launches for treatment breast cancer and gastric cancer. For instance, in 2019, Mylan L.V and Biocon Limited launched trastuzumab biosimilar, Ogivri, which was approved by the U.S. Food Drug and Administration in the U.S. Ogiviri is used for treatment of HER2-positive breast and gastric cancer patients.
Moreover, in March 2020, Celltrion Inc. and Teva Pharmaceutical Industries Ltd launched trastuzumab biosimilar, Herzuma, approved by the U.S. Food Drug and Administration for treatment of HER2-positive breast and gastric cancers.
Global Herceptin Biosimilar Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has drastically affected each and every market around the globe and it is expected to affect the global herceptin biosimilar market as follows:
- The outbreak of COVID-19 is affecting the oncology treatment procedures and therefore government regulating bodies have implemented some guidelines to slow the spread of COVID-19 infection. The US National Library of Medicine’s report published in July 2020 recommended guidelines that should be followed by healthcare professionals and clinical technicians while performing oncology treatments. Some of the important guidelines are as follows:
- All oncology diagnostic procedures should be divided into urgent and not-urgent categories, and if urgent category then a defined diagnostic plan should be properly established to avoid risk of spreading coronavirus infection.
- All surgical procedures and chemotherapy regimens in case of breast cancer patients should be programmed depending upon severity of the patients and severity of patients is categorized into urgent priority, surgery within two weeks, high priority, surgery within four weeks, medium priority, surgery within eight weeks, low priority, surgery after eight weeks allowed.
- Oncology Breast Care Centres should undertake the consideration of delaying the radiotherapy treatment depending upon the patient condition.