The Global Biosimilars Market growth is driven by factors like increasing demand for biosimilar drugs due to their cost-effectiveness, rising geriatrics population & increasing incidence of chronic diseases, abbreviated regulatory approval process & growing strategic partnerships and agreements. Furthermore, the technological advancements in the field of biopharmaceutical are expected to expand in the upcoming years finally leading to the advancements in the Biosimilars Market. Moreover, the rising pressure to reduce healthcare expenditure coupled with patent expiry of various blockbuster drugs. Hence, the cost to benefit ratio offered by biosimilar market drugs are expected to increase their demand in the upcoming years.
According
to Marketlook Consulting’ research report “Global Biosimilars Market Analysis, 2021”, the
Global Biosimilars Market is anticipated to grow at a CAGR 14% during 2022-29
The market would reach to USD 85.5 billion by 2029.
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Based
on product, the global biosimilars market is bifurcated into Recombinant
Glycosylated Proteins (Dental lasers, Monoclonal Antibodies, Laboratory
Machines), Recombinant Non-Glycosylated Proteins (Insulin, Granulocyte Colony
stimulating factor, Recombinant human growth factor, Interferons), and
Recombinant Peptides. Majority of the market is dominated by Recombinant
Glycosylated Proteins. Monoclonal Antibodies & Insulin are expected to be
the key factors for the rapid growth of the biosimilars market due to the
eminent use of Monoclonal Antibodies for the treatment of cancer, autoimmune
disorders, osteoporosis as well as rising demand for insulin dependent
diabetes.
Based
on Indication, the market I segmented into Chronic diseases, Oncology,
Autoimmune diseases, Infectious diseases, Blood disorders, Growth hormone
deficiency. Oncology grabbed the significant market share in 2021 owing
to the availability of biosimilars at a lower cost than innovative biologics
and a large number of patients. Hence due to high incidence and high prevalence
of cancer the healthcare sector is focusing on reducing the burden of the
cancer in population.
“Global Biosimilars Market Analysis, 2021” provides comprehensive qualitative and
quantitative insights on the industry potential, key factors impacting sales
and purchase decisions, hotspots, and opportunities available for biosimilar
providers across the Globe. Moreover, the report also encompasses the key
strategic imperatives for success for competitors along with strategic
factorial indexing measuring competitor's capabilities on 16 parameters. This
will help companies in the formulation of Go to Market Strategies and identifying
the blue ocean for its offerings.
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https://www.marketlookconsulting.com/reports/Biosimilars-market
Europe Dominated the Market
Based
on Leading regions, Europe dominated the global biosimilars market in 2021 and
is projected to maintain its dominance during the forecasted period 2022-29. In
Europe, biosimilars are capturing an increasing share of the territory from
originator drugs, improving savings, patent access to biological products. It
has been observed the biosimilars manufacturers are increasingly prepared for
the loss of opportunities & creating increasingly crowded and competitive
marketplace within the country forthcoming period as stated in Marketlook
Consulting research report “Global Biosimilars Market
Analysis.
According
to Marketlook Consulting’, the key players with a considerable
market share in the global Air Purifier market are Pfizer, Inc., Intas
Pharmaceuticals Ltd., Biocon, Dr. Reddy’s Laboratories Ltd., Teva
Pharmaceutical Industries Ltd., Sandoz International GmbH (A Novarti Division),
Celltrion Inc., Amgen, Inc., STADA Arzneimittel AG, Apotex Inc.
Market Segmentation:
- By
Product (Recombinant Glycosylated
Proteins, Recombinant Non-glycosylated Proteins, Recombinant Peptides)
- By
Indication (Chronic Diseases, Oncology,
Autoimmune diseases, Infectious diseases, Blood Disorders, Growth Hormone
Deficiency, Others)
- By
Region (North America, Europe,
Asia-Pacific, Latin America, Middle East and Africa)
- By
Company (Pfizer, Inc., Intas
Pharmaceuticals Ltd., Biocon, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical
Industries Ltd., Sandoz International GmbH (A Novarti Division), Celltrion
Inc., Amgen, Inc., STADA Arzneimittel AG, Apotex Inc.)
Key questions answered in the study:
- What
are the current and future trends of the Biosimilars industry?
- How
the industry has been evolving in terms of product demand and indication
areas?
- How
the competition has been shaping across the countries followed by their
comparative factorial indexing?
- What
are the key growth drivers and challenges for the Biosimilars industry?
- What
is the customer orientation, purchase behavior, and expectations from the
Biosimilar firms across various regions?
Top Major
Players List :- Biosimilars Market
- F. Hoffmann-La Roche Ltd. (US)
- Sandoz International GmbH
(Switzerland)
- Teva Pharmaceutical Industries
Ltd. (Israel)
- Samsung Bioepis (South Korea)
- Biocon (India)
- Mylan N.V (US)
- Pfizer, Inc.
- Intas Pharmaceuticals Ltd.
- Biocon
- Dr. Reddy’s Laboratories Ltd.
- Teva Pharmaceutical Industries
Ltd.
- Celltrion Inc.
- Amgen, Inc.
- STADA Arzneimittel AG
- Apotex Inc.
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