U.S. Biosimilars Market for biologic medical product to reach US$ 17,696.0 Mn units by 2026
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Some of the other players operating in the U.S. biosimilars market are
• F. Hoffmann-La Roche Ltd.,
• AbbVie Inc.,
• Merck & Co.,
• Celltrion Inc.,
• Coherus BioSciences, Inc.,
• Teva Pharmaceutical Industries Ltd.,
• Eli Lilly and Company
Pfizer Inc., Samsung Bioepis Co. Ltd., and Other Key Players Tend to Focus on Product Launch to Strengthen Position
Samsung Bioepis Co. Ltd, a biopharmaceutical company, received approval from Food and Drugs Administrations for ETICOVO, a biosimilar of Etanercept in April 2019. It is used for the treatment of plaque psoriasis, rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, ankylosing spondylitis, and psoriatic arthritis. Pfizer Inc. a multinational pharmaceutical company based in the U.S., received approval from FDA for TRAZIMERA, a biosimilar referencing Herceptin in March 2019. It will be used to treat gastroesophageal junction adenocarcinoma and breast cancer.
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Autoimmune Diseases Segment Projected to Dominate the Market in the U.S.
The U.S. biosimilars market is classified into three segments, namely, by distribution channel, by disease indication, and by drug class. By distribution channel, the market is grouped into online pharmacy, hospital pharmacy, and retail pharmacy. In terms of disease indication, the market is divided into cancer and autoimmune diseases such as arthritis, neutropenia, psoriasis, and others. In 2018, the autoimmune diseases held a market share of 92.0%. The segment is anticipated to remain in the leading position the U.S. biosimilars market during the forecast period. Factors like increasing adoption of biosimilars, rise in the prevalence of autoimmune diseases, and availability of limited drugs are likely to boost the segment. The Centers of Disease Control and Prevention declared that approximately 26% adults are estimated to have arthritis by 2040. This in turn, will increase the demand for biosimilars to treat arthritis. Moreover, treatment of cancer is expensive in the U.S. Combined with this, constant investments in research and development and rise in the adoption of sedentary lifestyle are projected to favor growth of the cancer segment throughout the forecast period in the U.S.
By Drug Class
· Filgrastim & Pegfilgrastim
· Monoclonal Antibodies
By Disease Indication
· Autoimmune Diseases
By Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
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