Biosimilar Market Size 2022-27: Trends, Share, Growth, Opportunity and Forecast

According to the recent report by IMARC Group, entitled “Biosimilar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global biosimilar market size was estimated to be US$ 13.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 60.8 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027.

Biosimilars, also known as subsequent entry biologics (SEBs) or follow-on biologics, refer to FDA-approved biotherapeutic products which are similar to their reference biologics. Biosimilars can only be manufactured after the patent of the reference product expires. The demand for biosimilars has been increasing in recent years as they help in reducing the overall cost of the treatment for a variety of chronic diseases including cancers, autoimmune diseases, kidney failure, diabetes, CVDs, haematological disorders, infectious diseases, rheumatoid arthritis, growth hormone deficiency, etc.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Biosimilar Market Drivers:

Recent patent expiries of a large number of blockbuster biological drugs such as Humira, Remicade, MabThera, Enbrel, etc. have majorly boosted the growth of the biosimilar market. Another major growth-inducing factor is ageing population which has led to a rise in the prevalence of non-communicable diseases. Further, high costs of innovator biologics, especially monoclonal antibodies (mAbs), have encouraged several governments across the globe to promote the usage of biosimilars. For instance, European countries like the Netherlands, Denmark and Germany have established strategic models for discount pricing and introduced numerous incentive programs. Apart from this, biosimilars do not require extensive marketing as the safety and efficacy profile of biologics has already been established. This has resulted into the low cost of these drugs in comparison to their branded counterparts, in turn, spurring their demand worldwide.

Biosimilar Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global biosimilar market has also been analysed. Some of the leading players operating in the market are:

• Novartis
• Pfizer
• Teva
• Celltrion
• Merck & Co
• Samsung Bioepis
• Eli Lilly
• Biocon
• Dr. Reddy's Laboratories
• Amgen
• Boehringer Ingelheim

Key Market Segmentation:

Molecule insights:                   

• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa

Indication Insights:

• Auto-Immune Diseases
• Blood Disorder
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility

Manufacturing Type Insights:

• In-house Manufacturing
• Contract Manufacturing

Regional Insights:

• United States
• Germany
• France
• Italy
• Spain
• United Kingdom
• Japan
• India
• South Korea
• Others

Explore full report with TOC & List of Figures:https://www.imarcgroup.com/request?type=report&id=497&flag=C

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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