What's driving Biosimilars Market ; Eminent Players - Amgen, Biocon, Biogen, Boehringer Ingelheim, Celltrion, Coherus BioSciences

Biosimilars Market size is set to exceed USD 69 billion by 2025; according to a new research study published by Global Market Insights, Inc. Cost effectiveness of biosimilars will be a major market boosting factor as it will lead to growing demand and adoption rate of the same. Biosimilars are usually less expensive as compared to other reference products such as biologics and bio betters. Implementation of safe and cost-effective biosimilars in the U.S. will further lead to health improvements and reducing the health expenditure. Hence, low cost of drugs as compared to other drugs will increase the demand and adoption of biosimilars, thereby augmenting the business growth in near future.

Biosimilars market is estimated to grow due to high number of patent expirations of biologics drugs, government cost saving initiatives and increase in prevalence of chronic diseases. Several well known biologics are estimated to loose their patents in the forthcoming years, giving the chance for other big pharma players to manufacture their biosimilars, thus, set to increase in number of biosimilar applications and approvals, and augmenting the industry growth.

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However, presence of biologics and bio betters will be one the major market impeding factors. Presence of sophisticated biologic drugs still in the market along with several bio betters and generic versions of the drugs will hamper the business growth over the estimation period.

Recombinant glycosylated proteins market is estimated to grow at around 28.7% over the estimation period. Increase in number of people suffering from chronic disorders such as cancer and blood disorders will result in growing demand for biosimilars. Also, recent launch of molecular antibody biosimilars in developed regions of North America and Europe will boost the growth of recombinant glycosylated proteins over the forthcoming years.

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Application of biosimilars in autoimmune diseases was valued at USD 1,387.9 million in the year 2018. Increase in prevalence of autoimmune disease such as arthritis, inflammatory bowel disease and psoriasis will be major market impact rendering factor. As per the National Institutes of Health, around 23 million people suffer from autoimmune diseases. Hence, growing number of people with autoimmune disease and need for cost-effective medication for the disease treatment will result in augmenting the business growth.

In-house manufacturing of biosimilars was valued at USD 7,843.5 million in the year 2018. Presence of state-of-art facilities in the company along with better monitoring of the product manufacturing will lead to growing in-house manufacturing of biosimilars. Also, flexibility of operational and financial capabilities of the company will further augment market growth in the near future.

Development of biosimilars using recombinant DNA technology is estimated to grow at around 26.2% over the projection period. Several of the biosimilars products are developed using rDNA technology that enhances the product quality and efficiency of the product.

U.S. biosimilars market is estimated to grow at significant rate of 38.1% over the projection period. Presence of several big pharma players and recent regulatory approvals of biosimilar products in the country will augment the business growth. Also, several biosimilar products in line for product approval will result in boosting the sales in the forthcoming years. China dominated the Asia Pacific biosimilars market and was valued at USD 1,498.1 million in the year 2018. Presence of several biosimilar products manufacturing companies in the country along with over 100 biosimilars in development will boost the business growth.

Biosimilars market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Biosimilars Market by Product
• Recombinant Non-Glycosylated Proteins
o Human Growth Hormone
o Granulocyte Colony-Stimulating Factor (Filgrastim)
o Insulin
o Interferon
 Alfa
 Beta
• Recombinant Glycosylated Proteins
o Erythropoietin
 Alfa
 Zeta
o Monoclonal Antibodies
 Infliximab
 Rituximab
 Adalimumab
 Trastuzumab
 Bevacizumab
 Etanercept
o Follitropin
 Alpha
 Beta
o Low Molecular Weight Heparin
Biosimilars Market by Application
• Hematology
o Neutropenia
o Anemia
o Others
• Oncology
o Lung Cancer
o Brain Cancer
o Breast Cancer
o Cervical Cancer
o Colorectal Cancer
o Leukemia
 Non-Hodgkin Lymphoma (NHL)
 Chronic Lymphocytic Leukemia (CLL)
 Others
o Others
• Autoimmune Disease
o Arthritis
 Rheumatoid Arthritis
 Psoriatic Arthritis
 Juvenile Arthritis
 Ankylosing Spondylitis
 Others
o Inflammatory Bowel Disease (IBD)
 Ulcerative Colitis
 Crohn's Disease
 Others
o Psoriasis
o Others
• Growth Hormone Deficiency
• Diabetes
• Others
Biosimilars Market by Manufacturer
• Contract Research and Manufacturing Services
• In-house
Biosimilars Market by Technology
• Recombinant DNA Technology (rDNA technology)
• Monoclonal Antibodies (MAb) Technology
The above information is provided for the following regions/countries:
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Spain
o Italy
o Russia
o Turkey
o Austria
o Belgium
o Bulgaria
o Czech Republic
o Denmark
o Finland
o Greece
o Hungary
o Ireland
o Netherlands
o Norway
o Romania
o Slovakia
o Slovenia
o Sweden
o Switzerland
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
• Rest of the world

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.