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)
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The market is expected to gain significant growth during the forecast period, as various key companies are focusing on product launches to strengthen their positioning in herceptin biosimilar market. For instance, September 2020, Accord Healthcare Ltd, launched the biosimilar of trastuzumab (Zercepac) indicated for the treatment of patients suffering from with HER2-positive early breast cancer, previously untreated HER2-positive metastatic gastric cancer and HER2-positive metastatic breast cancer. Zercepac will be available with dose strength of 150mg single dose vial and approved by European Commission in Europe.
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