Biosimilars Market By Top Players - Pfizer (US), Sandoz (Germany), Teva Pharmaceuticals (Israel), Amgen (US), Biocon (India), Dr. Reddy’s Laboratories (India), Celltrion (South Korea), and Samsung Biologics (South Korea)

Global Biosimilars Market Analysis

According to Verified Market Research, the global biosimilars market was valued at USD 5.62 Billion in 2018 and is projected to reach USD 47.57 Billion by 2026, growing at a CAGR of 30.43 % from 2019 to 2026.

What are Biosimilars?

Biosimilar is a biological medical product also referred to as follow-on biologic or subsequent entry biologic. It is basically an identical copy of an original product manufactured by a different company. It is officially approved version of original innovative products and manufactured only when the original product’s patent expires. Its production is based on living organisms or cells and it comprises a complex molecular structure.

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Global Biosimilars Market Outlook

In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Traditionally, the patents of several blockbuster biological drugs had expired and further, more biologic drugs are expected to lose their patent protection over the coming years.

Due to this, global biosimilars markets would eventually boost up giving tremendous opportunities to biosimilar manufacturers. Also, government cost-saving initiatives and use of third-party players have encouraged the use of biosimilar products over the branded and known biologics. Some of the other factors like the growing population and prevalence of chronic diseases are responsible for the growing demand for biosimilars. However, negative perceptions from physicians, patent extensions and lower price in comparison to small molecule generics limit the biosimilars market.

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Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global BIOSIMILARS Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Global Biosimilars Market Competitive Landscape

The “Global Biosimilars Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Pfizer (US), Sandoz (Germany), Teva Pharmaceuticals (Israel), Amgen (US), Biocon (India), Dr. Reddy’s Laboratories (India), Celltrion (South Korea), and Samsung Biologics (South Korea). Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

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