Biosimilar Market Expected to Grow at 26.1% CAGR during 2022-2027

According to the recent report by IMARC Group, entitled "Biosimilar Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027", the Biosimilars market reached a value of US$ 13.0 Billion in 2021. Catalyzed by these factors, the market is expected to reach US$ 60.8 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027. Biosimilars or follow-on-biologics is a biotherapeutic product that is particularly similar to a reference biologic drug. The biologic is produced using living cells or organisms that have a complex molecular structure. A biological drug must be proved similar in terms of safety, quality, and efficacy to be labeled as a biosimilar. When compared with generic drugs, biosimilars are expensive as it requires significant investments in research and development (R&D), and their production process is comparatively complex.  

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The global biosimilar market is primarily driven by several initiatives undertaken by the governments of various nations and the key players to encourage the use of biosimilars over branded biologics, primarily due to their cost-effectiveness. Several blockbuster biologic drugs are losing patent protection, which is further providing an impetus to market growth. The increasing cases of chronic diseases, such as cancer and various autoimmune diseases and the rapidly increasing geriatric population are other factors creating a positive outlook for the market.  

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Biosimilar Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

Novartis 
Pfizer
Teva
Celltrion
Merck & Co
Samsung Bioepis 
Eli Lilly
Biocon
Reddy's Laboratories
Amgen
Boehringer Ingelheim

Molecule insights: 

Infliximab
Insulin Glargine
Epoetin Alfa
Etanercept
Filgrastim
Somatropin
Rituximab
Follitropin Alfa

Indication Insights:

Auto-Immune Diseases
Blood Disorder
Diabetes
Oncology
Growth Deficiency
Female Infertility

Manufacturing Insights:

In-house Manufacturing
Contract Manufacturing

Regional Insights:

United States
Germany
France
Italy
Spain
United Kingdom
Japan
India
South Korea 
Others

Full Report with TOC & List of Figures: https://www.imarcgroup.com/biosimilar-market

Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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