Albany, NY -- (SBWIRE) -- 11/15/2018 -- A recent report by ResearchMoz.us, titled, "Biosimilars in Oncology," throws light on the different aspects of the new method to find cure of cancers. It attempts to understand how the market for biosimilars in oncology would progress in the next couple of years and what factors would shape it.
The report starts by stating that focus on developing new medicines which are both capital and time intensive is driving up the cost of the final product. This is particularly true of biologic drugs which cost a lot to develop. This is because they are large and complex molecules. Biosimilars are akin to the licensed biologic drugs that have no relevant clinical differences. They accomplish the same purpose at their originator molecules and cost less too. They are gradually threatening to supplant the approved biologics in the domain of cancer treatment.
The report states that biosimilars in oncology currently consists of biosimilar versions of six biologic drugs. It also observes that the EMA has approved many more biosimilars in oncology than the FDA. In fact, a framework for approving biosimilars was created by the European Medicines Agency (EMA) in 2006. It approved the first biosimilar in April 2006.
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With rising cancer care costs which is squeezing healthcare systems all over the world, biosimilars in oncology are set to see increasing uptake. In fact, the expensive biologic therapies have served to push up costs so far. However, with patents on many biologics set to expire soon, biosimilars in oncology may receive a further fillip.
So far, the U.S. and European nations of Germany, France, Spain, Italy, and the U.K. have been at the forefront of uptake of biosimilars in oncology. This is because of the advanced research and development centers in the region which have been carrying out exhaustive research for coming up with effective biosimilars. The nations also have a proper regulatory mechanism in place which after protracted scrutiny approves of quality products. These two factors combined with a superior healthcare facilities and skilled medicos have resulted in considerable adoption of biosimilars in oncology.
Apart from the developed western nations, others nations that spell solid promise for biosimilars in oncology are South Korea and India. In fact, India has the most number of biosimilars at present. Meanwhile, South Korea in Asia Pacific is another key region by dint of being home to prominent biosimilar developer Celltrion.
Biosimilars in oncology despite having a lot of potential, is being hobbled by the regulatory pathway. This is because their regulatory approval needs comparative clinical and analytical studies so as to check thoroughly that there is no clinical difference between biosimilars and biologics on which they are based.
Some of the prominent companies in the domain that have been profiled in the report are Sandoz, Celltrion, Mylan, Biocon, and Amgen. Other upcoming players in the domain are Pfizer and Boehringer Ingelheim.
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