Biosimilar Market 2024-2032: Forecast, Trends, Demand, Key Players and Trends

IMARC Group, a leading market research company, has recently releases report titled “Biosimilar Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global biosimilar Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the Biosimilar market?

The global biosimilar market size reached US$ 21.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 164.5 Billion by 2032, exhibiting a growth rate (CAGR) of 25.1% during 2024-2032.

What are Biosimilars?

Biosimilars represent a category of biotherapeutic products that closely mirror the characteristics of a reference biologic medication. These remarkable pharmaceuticals are crafted through the utilization of living organisms and intricate cellular structures. In order to earn the distinguished title of "biosimilar," a biological drug must demonstrate its likeness in terms of effectiveness, safety, and overall quality. It's important to note that biosimilars, while offering substantial benefits, tend to be pricier than generic drugs. This is primarily due to their intricate production processes, which necessitate substantial investments in research and development (R&D) endeavors.

What are the growth prospects and trends in the Biosimilars industry?

The rising prevalence of chronic ailments, including cancer and autoimmune disorders, particularly among the elderly population, stands out as a key driver behind the market's notable growth. Furthermore, the increasing occurrence of patent expirations and the loss of protection for various biologic drugs are fostering a promising outlook for the market. Manufacturers are required to seek regulatory approval once their patents expire in order to commence the production of biosimilars. What's more, biosimilars do not necessitate extensive marketing efforts since the effectiveness and safety profile of their branded counterparts have already been well-established. This, in turn, is propelling market expansion.

Additionally, the substantial costs associated with innovator biologics, especially monoclonal antibodies (mAbs), have prompted governments to launch initiatives that encourage the adoption of cost-effective biosimilars over branded biologics, further fueling market growth.

Request for PDF Sample of this Report: https://www.imarcgroup.com/biosimilar-market/requestsample

Who are the key players operating in the Biosimilars industry?

The report covers the major market players including: 

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

What is included in market segmentation?

The report has segmented the market into the following categories:

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 Insights:

  • In-house Manufacturing
  • Contract Manufacturing

Regional Insights:

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

Ask Analyst for Customized Report: https://www.imarcgroup.com/request?type=report&id=497&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

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 Group’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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