openPR Logo
Press release

Global Biosimilars Market | Global Biosimilars Industry | Global Biosimilars Market Research Report: Ken Research

01-27-2021 12:46 PM CET | Health & Medicine

Press release from: Ken Research Pvt Ltd

Global Biosimilars Market | Global Biosimilars Industry |

The biosimilars market involves of sales of biosimilars and associated services that are cast-off to treat chronic sicknesses such as diabetes, arthritis, and cancer. The Biosimilars are pharmaceuticals that are produced using cell lines and offers no clinical difference as linked to biologics. The Biosimilars are made once the patent of biologics is deceased.

According to the report analysis, ‘Biosimilars Market Global Report 2020-30’ states that the worldwide biosimilars market was worth USD 7.79 billion during 2019. It is predicted to augment at a compound annual growth rate (CAGR) of 31.70% and reach USD 23.63 billion by 2023.
Additionally, the production of fresh insulin biosimilars is trending in the biosimilars market. The foremost players functioning in the biosimilars market are contributing in generating a biosimilar of insulin. This is also encouraging competition amongst several biosimilar producers.

For instance, during 2019, Mylan, a U.S-based pharmaceutical company, in partnership with Biocon, an Indian grounded biopharmaceutical company launched biosimilar insulin glargine named Semglee. Also, during 2019, Oramed Pharmaceuticals, a Jerusalem based pharmaceutical company improved an oral insulin drug named ORMD-0801 to indulgence type 2 diabetes. Thus, corporates in the biosimilars market are underwriting in the improvement of insulin biosimilar to obtain the profits.
During June 2018, Japan-based Fuji Pharma Co., Ltd. obtained a 4.2% stake of Alvotech for USD 50 million. The acquisition comprises Alvotech to advance, produce and supply biosimilars and Fuji Pharma will sell the biosimilars during Japan. The Alvotech is an Iceland-based biopharmaceutical organization.

While, the shortage of awareness about biosimilars amongst the primary care physicians (PCPs) and specialists restricts the growth of the biosimilars market. Biosimilars are produced from cell lines and offer the similar effectiveness as biologics. However, shortage of familiarity with biosimilars decreases the likelihood of suggesting the drugs to patients which affects the requirement for fresh biosimilars in the market. For instance, during 2018, according to the PwC's Health Research Institute, out of 442 clinicians surveyed 55% of clinicians were unfamiliar with the biosimilars and 35% were disinclined to prescribe them owing to concerns involved protection of the follow-on biologic. Thus, the shortage of awareness about biosimilars amongst the primary care physicians (PCPs) and specialists limits the growth of the biosimilars market.

Whereas, the effective growth in the prevalence of chronic diseases such as arthritis, asthma, and cancer is predicted to be a foremost driver of the biosimilars market. Long working hours, restricted physical activity, unhealthy eating and drinking habits underwrite to the pervasiveness of chronic syndromes and biosimilars are progressively used to cure these chronic syndromes. Biosimilars activate the immune system rejoinder against the cancer cells thus supporting the immune system to eradicate the cancer cells from the body.

According to a United Nations article, by 2030 the proportion of worldwide deaths owing to chronic diseases is predicted to augment to 70% of total deaths. The worldwide burden of chronic disease is predicted to reach nearly 60%. Therefore, the augment in the prevalence of chronic diseases is predicted to propel the demand for biosimilars, thus influencing the biosimilars market.

For More Information, Click on the Link Below:-

Related Reports:-

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. Ken Research provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Serving over 70% of fortune 500 companies globally, some of top consulting companies and Market leaders seek Ken Research’s intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Biosimilars Market | Global Biosimilars Industry | Global Biosimilars Market Research Report: Ken Research here

News-ID: 2231665 • Views: 389

More Releases from Ken Research Pvt Ltd

Global Chest Drainage Catheters Market Report 2020 by Key Players, Types, Applic …
The Global Chest Drainage Catheters Market has grown at a significant growth rate in the past few decades. The report insights into the market shares, revenues, and trends. It discusses the data assessments and specifics of the market size and the industry. The report signifies the trending branding assessments of the top grooming companies of the world. The report gives a bright light to the regional and volumetric analysis of
Market Research in United States : Ken Research
Everyone internationally believe that United States is one of the world's strongest economies led by the policies which allow the freedom to private segments to underwrite to economic decisions made by the government and set different directions for the optimum utilization of the resources. A strength of the United States lies in its rich mineral resources and fertile farm soil and coastlines on both Atlantic and Pacific Oceans makes it
Online Advertising Market
Digital marketing is the digital promotion of the products or services, mostly through the internet, but also counting mobile phones, advertisement displays, and any other new digital medium. Digital marketing methods such as search engine optimization (SEO), search engine marketing (SEM), content marketing, content management, campaign marketing, display advertising, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, e-books, and optical disks and games are becoming
Global Liver Function Tests Market Is Predicted to Propel Due to Increase In Use …
Liver functions tests (LFT) are blood tests that are used to analyze the condition of liver and biliary framework. The liver processes and channels the blood as it flows through the body. It functions numerous indispensable capacities that incorporate planning blood coagulating proteins, employment of supplements, and detoxification of destructive substances. The cells in the liver entail compounds that are liable for completing the synthetic rejoinders. At the point when

All 5 Releases

More Releases for Biosimilars

Global Oncology Biosimilars Market | Global Oncology Biosimilars Industry | Onco …
The oncology biosimilars market involves of sales of medicine and drug interrelated products for cancer treatment. Biosimilars are pharmaceuticals which are produced using cell lines and are fashionable to the manufacturer. The manufacturing of such cell line processes is a multipart and time-consuming procedure. According to the report analysis, ‘Oncology Biosimilars Market Global Report 2020-30’ states that the worldwide oncology biosimilars market was worth USD 2990.34 million in 2019. It is
Global Biosimilars Market Research Report
This report studies the global Biosimilars market status and forecast, categorizes the global Biosimilars market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia). The major manufacturers covered in this report Pfizer Sandoz International GmbH Teva Pharmaceuticals Industries Amgen Inc Biocon Dr. Reddy’s Laboratories F. Hoffmann-La Roche Celltrion Samsung Bioepis
Insulin Biosimilars Market, by Biosimilar Type Rapid-acting Biosimilars, Long-ac …
Diabetes is a group of metabolic disease characterized by high blood sugar level due to inadequate secretion of insulin. Common symptoms of diabetes include increased hunger, tiredness, weight loss, and excessive thirst and urination. The prevalence of diabetes is increasing, in turn, boosting demand for insulin biosimilar. For instance, according the World Health Organization (WHO) report in 2014, globally around 422 million adults were living with diabetes and 1.5 million
Insulin Biosimilars Market, by Biosimilar Type Rapid-acting Biosimilars, Long-ac …
Biosimilar is a medicine developed on the original biological reference product. The production process of biopharmaceuticals vary from one manufacturer to another, thus every biosimilar product is unique from the other. Biosimilar manufactures use different culture conditions, master cell lines, purification techniques, and raw materials. This in turn, helps meet the rising prevalence of diabetes due to inadequate healthcare services, rising prevalence of obesity, For instance, According to 2013 American
Enbrel Biosimilars Clinical Trial Insight
“Enbrel Biosimilars Clinical Trial Insight” report by PNS Pharma gives comprehensive clinical insight on 36 biosimilars version of Enbrel drug in clinical pipeline. More than 5 of these biosimilars are in Phase-III trials and are expected to be commercially available in next 5-8 years. Currently 5 biosimilar version of Enbrel are commercially available in Iran, Mexico, India, UK and Australia. The patent on Enbrel was originally set to expire on
Europe Biosimilars Market & Pipeline Insight
Biosimilars have emerged as one of the most promising segment of the European pharmaceutical industry in recent years. The biosimilars segment has been experiencing a steady growth driven by patent expiration of blockbuster drugs, amenable regulatory framework, economic incentives along with favorable pricing and reimbursement policies adopted across multiple markets in Europe. The current biosimilars market is highly fragmented in nature due to their accessibility in various therapeutic categories. The