Biosimilar Market Global Size, Opportunities, Historical Analysis, Development Status, Business Growth and Regional Forecast

SDKI Inc. published a new report on the Global Biosimilar Market-Forecast 2022-2031. This study includes the statistical and analytical approaches needed to grow the biosimilar market. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-115941

The biosimilar market is estimated to grow from a market value of approximately US $ 23,217 million in 2022 to approximately US $ 87,863 million by 2031, with a CAGR of 18.1% during the 2022-2031 forecast period. It is expected.

Biosimilars are biopharmacy previously approved by the US Food and Drug Administration (FDA). A biopharmacy similar to (known as a reference product). Biosimilars are very comparable to reference products in terms of safety, purity, and efficacy, but clinically inert ingredients can vary significantly. The FDA may require manufacturers to complete sufficient clinical trials to demonstrate safety, purity, or efficacy for one or more purposes. The reference product is licensed and biosimilars require approval when approving the biosimilar.

Growth in the biosimilar market is driven by factors such as rising prevalence of chronic diseases such as cancer and diabetes that make up for rising demand for medicines, and rising demand for biosimilars for cost-effectiveness. increase. The industry is also expected to benefit from the expiration of patents on many biopharmaceuticals, and many blockbuster drugs that still have lost patent protection during the forecast period. This will create growth opportunities in the biosimilar market over the next few years.

In addition, regulatory approvals and other regulations that support the adoption of biosimilars in various countries are also key drivers of biosimilar market growth. Government and third-party payers are implementing cost-cutting programs to encourage biosimilars rather than branded biologics. This will boost the growth of the biosimilar market. The growing elderly population is also contributing to the growth of the biosimilar market during the forecast period. Increasing FDA approval and increased R & D activity by major oncology-focused manufacturers will also drive the growth of the biosimilar market between 2022 and 2031.

Sample URL for the report
https://www.sdki.jp/sample-request-115941

Biosimilar market segment

The biosimilar market is classified by molecule (infliximab, insulin glargine, epoetin alfa, etanercept, filgrastim, somatropin, rituximab, follitropin alpha), by type of production (in-house production, contract manufacturing), and adaptation. It is divided by disease (autoimmune disease, blood disease, diabetes, oncology, growth failure, female infertility) and by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional overview of the biosimilar market

biosimilar market is further subdivided based on the region, and the market growth of each country is evaluated. These include North America (US, Canada, and other North America), Europe (Germany, France, Italy, Spain, UK, and other Europe), Asia Pacific (China, Japan, India, Australia, Singapore, and others). Asia Pacific) and other regions.

The European region had the largest share of the biosimilar market during the forecast period. The imminent expiration of biopharmacy patents and the launch of new biosimilars, the rising incidence of chronic diseases, the emergence of new players and early entry into the market are key drivers of the growth of the biosimilar market in the region. It is a factor. In addition, higher disposable income, higher technology adoption rates, and increased awareness of the population about biosimilars have contributed to the growth of the biosimilar market during the forecast period.

A major key player in the biosimilar market

Key players in the biosimilar market include Pfizer Inc., Celltrion Inc., Novartis AG, AMGen Inc., Teva Pharmaceutical Industries Ltd., Samsung Bioepis and Biocon Ltd. The survey includes a detailed competitive analysis of these major companies in the biosimilar market, corporate profiles, recent developments, and key market strategies.

Details of the research report
https://www.sdki.jp/press-details/global-biosimilar-market/635

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This release was published on openPR.