Biosimilars Market Forecast 2025 | Amgen, Biocon, Biogen, Boehringer Ingelheim, Celltrion, Coherus BioSciences
Technological developments have also been claimed to bring about a wave of transformation in the overall biosimilar business space in the upcoming years. According to market estimates, development of biosimilars by recombinant DNA technology acquired a market share of 80 per cent, while recording a valuation of USD 8,123.6 million in 2018. This growth is mainly ascribed to the rising use of this technology to realize various biosimilar products including the likes of human growth hormones, insulin, and others. Use of rDNA technology enhances the capability of biosimilars to treat ailment effectively and within no time. Apparently, this stands as a major reason for manufacturers to use recombinant DNA technology to produce biosimilar products.
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Speaking on these lines, several companies have been laying focus on strengthening their reach in the overall biosimilars market while being a part of acquisitions, collaborations, facility expansion, and novel product launches. One such company, Biocon- an Indian biotechnology firm, in early 2020, announced that a private equity firm-True North would be investing USD 75 million in the company’s subsidiary Biocon Biologics. As per official sources, the investment would support Biocon’s aim to expand its research and development and manufacturing capabilities worldwide. Mention of such initiatives is expected to bolster the market’s stance in healthcare and medical cosmos in the future.
However, biosimilars market is subject to witness sluggish growth on grounds of high developmental cost, which would hinder its adoption in some of the under-developed or developing economies. Nevertheless, intrinsic initiatives taken up by market players in this aspect is expected to propel the market dynamics over the span of six years.
The global biosimilars market size is poised to exceed a valuation of USD 69 billion by the end of 2025. Recombinant non-glycosylated proteins have been gaining widespread acclamation globally. These products consist of human growth hormone, insulin, granulocyte colony-stimulating factor- Filgrastim, and interferon.
Estimates claim that the market held a lion’s share in the overall market share in 2018, while also exhibiting a growth rate of 26.1 per cent through 2025, on grounds of recent technological developments in high throughput analytical techniques and cell technology. These developments have been proclaimed to support effective production of biosimilars thereby accelerating the product sales.
Blood related disorders have stood out as one of the prominent diseases amongst people globally. In this case, it is prudent to mention that application of biosimilars is highest in hematology. Estimates suggest that the hematology segment captured a considerable revenue stake of USD 4,552.1 in the overall biosimilars market share. Elaborating further, it was showcased in a report by American Society of Hematology that over 3 million Americans suffer from anemia. These statistics are poised to drive the sales of biosimilars across the region.
When speaking of North America, it is crucial to highlight that the region, led by the United States is anticipated to record a CAGR of 38.1 per cent through 2025, subject to the robust presence of new technologies, big pharma companies, and state-of-art facilities. Additionally, biosimilar approvals by FDA will also present tremendous growth prospects for the North America biosimilars market in the ensuing years. Talking on these terms, FDA has in 2019 approved first ever biosimilar for treatment of adult patients with Hodgkin’s lymphoma.
Various industry majors operating in biosimilars market space have been gradually shifting towards adoption of in-house manufacturing owing to its endless advantages including easy monitoring and assessment of production and reduced costs related to production, delivery, and shipping. In line with these, merits like enhanced flexibility and efficiency of work have likewise increased the operational and financial capabilities of the companies.
It was depicted that the in-house manufacturing segment across biosimilars market seized a market share of 75 per cent while looking forward to growing at a CAGR of 26.5 per cent through 2025. These trends are expected to stimulate the overall dynamics of biosimilars market in the years to come, allowing it to take up a major position in the global healthcare and medical industry.
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Partial Chapter of the Table of Content
Chapter 6. Biosimilars Market, By Manufacturer
6.1. Global biosimilars market share by manufacturer, 2018 & 2025
6.2. Contract Research and Manufacturing Services
6.2.1. Market size, by region, 2014 – 2025 (USD Million)
6.3.1. Market size, by region, 2014 – 2025 (USD Million)
Chapter 7. Biosimilars Market, By Technology
7.1. Global biosimilars market share by technology, 2018 & 2025
7.2. Recombinant DNA Technology (rDNA technology)
7.2.1. Market size, by region, 2014 – 2025 (USD Million)
7.3. Monoclonal Antibodies (MAb) Technology
7.3.1. Market size, by region, 2014 – 2025 (USD Million)
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