The Herceptin biosimilar market is predicted to experience promising growth in the years ahead. Growing number of people with gastric cancers and metastatic breast cancer is spelling growth in the herceptin biosimilar market. Herceptin is a monoclonal antibody mainly used in the treatment of critical cancers such as metastatic breast cancer and gastric cancer.
Changing lifestyle with high consumption of processed food has led to surge in prevalence of cancer world over. Rising number of smokers, alcoholism are some other factors for prevalence of cancer. Extensive clinical research to devise line of treatment for cancer has led to duplication of human antibodies in the immune system. This opens vistas for the Herceptin biosimilar market.
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Extensive research and development initiatives for the treatment of critical cancers spurs growth in the Herceptin biosimilar market. Medical research institutions of world fame are collaborating, engaging in clinical trials for effective treatment of critical cancers. Such pursuits are indirectly favorable to the growth of Herceptin biosimilar market.
Diverse Growth Strategies translate into increased revenue share for Key Players
The Herceptin biosimilar market is extremely fragmented and competitive with the presence of considerable number of prominent players in the fray. Keen players in the Herceptin biosimilar market are concentrating on expanding their product portfolio. To accomplish these, these players are engaged in R&D and investing heavily to roll out these products. Apart from this, large global players are strategizing to penetrate into regional and local markets, therefore, entering into partnerships, collaborations, and mergers and acquisitions. Some large players in the Herceptin biosimilar market are Amgen Inc., Biocon Limited, Pfizer Inc., Accord Healthcare, Celtrion Inc., Merck &Co. Inc., Gedeon Richter plc, and Mabion SA.
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North America is a prominent region in the overall Herceptin biosimilar market. One of the key reasons influencing growth in the Herceptin biosimilar market in the region is increased efforts of market players to gain approvals and launches of clinical products intended for the treatment of breast and gastric cancer.