Biosimilar Market 2020 | Industry Growth, Outlook, Demand, Keyplayer Analysis and Opportunity - IMARC Group

Global Biosimilar Market Outlook – 2025

Biosimilars, also known as subsequent entry biologics (SEBs) or follow-on biologics, refer to FDA-approved biotherapeutic products which are similar to their reference biologics. Biosimilars can only be manufactured after the patent of the reference product expires. The demand for biosimilars has been increasing in recent years as they help in reducing the overall cost of the treatment for a variety of chronic diseases including cancers, autoimmune diseases, kidney failure, diabetes, CVDs, hematological disorders, infectious diseases, rheumatoid arthritis, growth hormone deficiency, etc.

The biosimilar market reached a value of USD 5.1 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

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Global Biosimilar Market Trends:

Recent patent expiries of a large number of blockbuster biological drugs such as Humira, Remicade, MabThera, Enbrel, etc. have majorly boosted the growth of the biosimilar market. Another major growth-inducing factor is ageing population which has led to a rise in the prevalence of non-communicable diseases. Further, high costs of innovator biologics, especially monoclonal antibodies (mAbs), have encouraged several governments across the globe to promote the usage of biosimilars. For instance, European countries like the Netherlands, Denmark and Germany have established strategic models for discount pricing and introduced numerous incentive programs.

Apart from this, biosimilars do not require extensive marketing as the safety and efficacy profile of biologics has already been established. This has resulted into the low cost of these drugs in comparison to their branded counterparts, in turn, spurring their demand worldwide.

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

For more information about this report visit: https://www.imarcgroup.com/biosimilar-market

Global Biosimilar Market Segmentation:

Market Breakup by Molecule

1. Infliximab
2. Insulin Glargine
3. Epoetin Alfa
4. Etanercept
5. Filgrastim
6. Somatropin
7. Rituximab
8. Follitropin Alfa

Market Breakup by Type of Manufacturing

1. In-house Manufacturing
2. Contract Manufacturing

Market Breakup by Indication

1. Auto-Immune Diseases
2. Blood Disorder
3. Diabetes
4. Oncology
5. Growth Deficiency
6. Female Infertility

Market Breakup by Region

1. Europe
2. United States
3. Japan
4. India
5. South Korea
6. Rest of the World

Some of the key players operative in the market are Sandoz International GmbH, Pfizer Inc., Teva Pharmaceutical Industries Limited, Celltrion Inc., Biocon Limited, Samsung Biologics, Amgen, Inc., Dr. Reddy’s Laboratories Limited and Stada Arzneimittel Ag.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Browse related reports:

https://www.imarcgroup.com/generic-injectables-market

https://www.imarcgroup.com/europe-biosimilar-market

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