Oncology Biosimilar Market Size, Top Share, Forecast To 2034

(MENAFN- Straits Research) Introduction

The global oncology biosimilar market size was estimated at USD 8.00 billion in 2025 and is anticipated to grow till USD 36.90 billion in 2034 at a CAGR of 18.5% from 2026-2034.

The market growth is attributed to the expiration of patents on biologic cancer treatments and strong regulatory approvals that facilitate the availability of cost-effective biosimilars, hence improving patient access and alleviating financial burdens on healthcare systems.

Market Dynamics Cost reductions fueling adoption and wider access drive the market growth

The introduction of oncology biosimilars presents a clear financial benefit. A study referenced in the National Library of Medicine indicated that biosimilars attained a 56.4% uptake among Medicare-covered biologics in 2024, encompassing bevacizumab, trastuzumab, rituximab, pegfilgrastim, and filgrastim, leading to a 23% decrease in Medicare prescription expenditures for these agents.

• The Center for Biosimilars reports that from 2019 to 2024, biosimilars achieved 57.9% use in inpatient settings, accompanied by average wholesale acquisition cost reductions of 35% compared to originators.

These reductions enable healthcare systems to reallocate resources to additional oncology discoveries, thereby enhancing patient access to life-saving biologics and stimulating the market.

Strategic alliances and portfolio diversification create tremendous opportunities

Strategic alliances are shown to have significant potential as accelerators for the expansion of oncology biosimilars. Companies are progressively engaging in partnerships, licensing agreements, and co-development arrangements to expedite their entry into lucrative therapeutic domains, while regulators are expanding the range of sanctioned oncology biosimilars, especially in supportive care.

• In October 2024, Teva and mAbxience expanded their strategic partnership to include an additional anti-PD-1 oncology biosimilar candidate.

By integrating partnership tactics with varied product portfolios, manufacturers are optimally positioned to penetrate various oncology segments, enhance treatment accessibility, and maintain long-term market momentum.

Key Highlights

• By product type , the market is segmented into granulocyte colony-stimulating factor (G-CSF), monoclonal antibodies (mAbs), hematopoietic agents, and immunomodulators. Monoclonal antibodies (mAbs) biosimilars are estimated to hold a revenue share of 30%, due to the expanding oncology applications of mAbs, which address highly prevalent cancers such as breast and colorectal cancer.
• By cancer type , the market is segmented into breast cancer, lung cancer, colorectal cancer, cervical cancer, blood cancer / hematological cancers, and others. The lung cancer indication is estimated to grow at a CAGR of 21.3%, driven by increasing approvals of biosimilars for agents used in treating lung cancers, combined with the pressing global burden of lung malignancies.
• By route of administration , the market is segmented into intravenous (IV), subcutaneous (SC), and others. The intravenous (IV) segment is estimated to hold a revenue share of 72%.
• By distribution channel , the market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. Online pharmacies are estimated to grow at a CAGR of 22.4%, accelerated by broader shifts toward digital healthcare access and e-pharmacy platforms.
• Asia Pacific is emerging as the fastest-growing region in oncology biosimilars, exhibiting a CAGR of 19.8% in 2025. The rapid incidence of cancer and the expansion of local manufacturing, especially in China, India, and South Korea, have created a strong demand for affordable biosimilar options.

Competitive Players

The key players in the global market are Pfizer Inc., Amgen Inc., Novartis International AG, Biocon Ltd., Dr. Reddy's Laboratories, Samsung Bioepis, Mylan N.V. (now part of Viatris), Allergan (AbbVie), STADA Arzneimittel AG, Apotex Inc., Roche, and others.

Recent Developments

• In April 2025, Biocon Biologics announced that the U.S. Food and Drug Administration (FDA) approved Jobevne (bevacizumab-nwgd), a biosimilar to the reference product Avastin (bevacizumab). This approval expanded Biocon's oncology biosimilar portfolio in the U.S.
• In June 2025, Dr. Reddy's Laboratories and Alvotech announced a collaboration to co-develop, manufacture, and commercialize a biosimilar of Keytruda (pembrolizumab). This is a significant move as Keytruda is one of the world's best-selling cancer drugs, and a biosimilar could offer major cost savings.

Segmentation

By Product Type

Monoclonal Antibodies (mAbs)

Hematopoietic Agents

Granulocyte Colony-Stimulating Factor (G-CSF)

Immunomodulators

By Cancer Type

Breast Cancer

Lung Cancer

Colorectal Cancer

Cervical Cancer

Blood Cancer / Hematological Cancers

Other types (e.g., kidney, stomach, brain cancers)

By Route of Administration

Intravenous (IV)

Subcutaneous (SC)

Others

By Distribution Channel

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

Others

By Region

North America

Europe

Asia Pacific

Latin America

The Middle East and Africa

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