Press release
Revolutionizing Access with Transformative Shifts in the Biosimilars Market
Biosimilars are safe and effective treatment options for many illnesses like chronic conditions. A biosimilar is a highly similar version of a particular biologic that the United States Food and Drug Administration approves.
Global Biosimilars Market Report Scope:
• Market Size (2029): USD 3.35 Billion
• Market Size (2024): USD 1.1 Billion
• CAGR (2024 to 2029): 24.9 %
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Product Type, Technology, Disease & Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: andoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd. are playing a dominant role in the biosimilars market.
Browse full details of the report @ https://www.marketdataforecast.com/market-reports/biosimilars-market
Key Insights from The Report:
• Based on Product Type, the recombinant glycosylated protein segment captured highest share of the global market in 2023.
• Based on Technology, the recombinant DNA technology segment dominated the market in 2023.
• Based on Disease, the oncology segment dominated the market in 2023.
• North America dominated the healthcare analytics market in 2023. Europe accounted for second- highest share of the global biosimilars market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• AMD Global biosimilars market andoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd. are dominated the biosimilars market.
The growing prevalence of chronic diseases worldwide demands extensive therapeutics, driving the global biosimilar market growth. The increasing geriatric population and prevalence of lifestyle-related disorders are raising the demand for biosimilars, fueling the market size expansion. The increasing cost of biologics and growing patent expirations create opportunities for manufacturers to introduce biosimilars. Most top biologics are experiencing patent expirations, influencing the market players to introduce biosimilars and enhance the market revenue. Biosimilars are in high demand in many major countries like the U.S., Canada, the U.K., and others, increasing the adoption of biosimilars worldwide. The primary key driver for the biosimilars market is cost-effectiveness; the biosimilars are available at a low cost compared to biologics. The growing investments by the market players in research and development activities for developing novel biosimilars are expected to increase the market growth during the forecast period. The increasing prevalence of cancer is escalating the adoption of biosimilars due to the cost-effectiveness and the necessity of novel biosimilars. According to the International Agency for Research on Cancer 2020, the estimated cases of leukemia were 474,519 globally. The same source stated that the disease had recorded high mortality, with global deaths of 311,594 cases. Emerging markets in regions like Asia Pacific, Latin America, the Middle East, and Africa are estimated to offer significant market growth opportunities due to the low stringent regulatory framework in developing countries. The rising government support for research activities will increase the number of biosimilar pipelines in the coming years, augmenting the market size expansion.
Complexities in developing biosimilars, such as costly investments, clinical trials, and quality systems, are increasing the overall cost of production and complexity, hampering the market expansion. The presence of stringent regulatory frameworks and different levels of regulations in various countries are estimated to hinder market growth opportunities, leading to product delays and market entry levels. The presence of concerns regarding the substitutes and composition of the biosimilars will influence the manufacturers to inhibit investments in this market, which impedes the market size expansion. Some people consider biologics the standard by limiting the adoption of biosimilars, which limits market growth worldwide.
SEGMENTATION INCLUDED IN THIS REPORT:
By Product Type:
• Protein
• Insulin
• Human Growth Hormones
• Granulocyte Colony-stimulating Factor (G-CSF)
• Interferons
• Recombinant Glycosylated Proteins
• Erythropoietin
• Monoclonal Antibodies
• Follitropin
• Recombinant Peptides
• Glucagon
By Technology:
• Mass Spectroscopy
• Chromatography
• Monoclonal Antibody Technology
• Recombinant DNA Technology
• Nuclear Magnetic resonance (NMR) technology
• Electrophoresis
• Bioassay
By Disease:
• Oncology Diseases
• Blood Disorders
• Growth hormone deficiencies
• Chronic and autoimmune diseases
• Others
By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Browse Regional Reports:
North America Biosimilars Market Research Report - Segmented By Type, Technology, Application, Country (U.S, Canada & Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/na-biosimilars-market
Europe Biosimilars Market Research Report - Segmented By Type, Technology, Application and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/europe-biosimilars-market
Asia-Pacific Biosimilars Market Research Report - Segmented By Type, Technology, Application and Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/apac-biosimilars-market
Latin America Biosimilars Market Research Report - Segmented By Type, Technology, Application, Country (Mexico ,Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis, Size,Share, Growth, Trends, & Forecast (2023 to 2028) -https://www.marketdataforecast.com/market-reports/la-biosimilars-market
Middle East & Africa Biosimilars Market Research Report - Segmented By Type, Technology, Application and Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from (2023 to 2028 )- https://www.marketdataforecast.com/market-reports/mea-biosimilars-market
TABLE OF CONTENTS:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 Protein
5.1.2 Insulin
5.1.3 Human Growth Hormones
5.1.4 Granulocyte Colony-stimulating Factor (G-CSF)
5.1.5 Interferons
5.1.6 Recombinant Glycosylated Proteins
5.1.7 Erythropoietin
5.1.8 Monoclonal Antibodies
5.1.9 Follitropin
5.1.10 Recombinant Peptides
5.1.11 Glucagon
5.1.12 Calcitonin
5.2 By Technology
5.2.1 Mass Spectroscopy
5.2.2 Chromatography
5.2.3 Monoclonal Antibody Technology
5.2.4 Recombinant DNA Technology
5.2.5 Nuclear magnetic resonance (NMR) technology
5.2.6 Electrophoresis
5.2.7 Bioassay
5.3 By Application
5.3.1 Oncology diseases
5.3.2 Blood disorders
5.3.3 Growth hormone deficiencies
5.3.4 Chronic and autoimmune diseases
5.3.5 Others
6. Geographical Analysis
6.1 Introduction
6.2 Middle-East
6.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Sandoz International GmbH
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Wockhardt
8.3 Hospira
8.4 Teva Pharmaceutical Industries
8.5 Dr. Reddy's Laboratories
8.6 Biocon
8.7 Mylan
8.8 Zydus Cadila
8.9 Celltrion
8.10 Roche Diagnostics
8.11 Cipla
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
Contact Us:
MarketDataForecast
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Phone: +1-888-702-9626
Email: sales@marketdataforecast.com
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About Us:
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
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