The Rapidly Growing Biosimilars Market: Increasing Access to Life-Saving Treatments

According to the report, the global biosimilars industry was estimated at $15.9 billion in 2021, and is anticipated to hit $143.6 billion by 2031, registering a CAGR of 24.7% from 2022 to 2031.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭:

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Biosimilars are similar but not identical versions of biological drugs (also called biologics), which are medicines made from living organisms or their components.

Like generic drugs, which are exact copies of chemical drugs, biosimilars are intended to be lower-cost alternatives to their branded biologic counterparts. However, because biologics are much more complex than chemical drugs, it's not possible to make an exact copy of them.

Instead, biosimilars are developed to be as similar as possible to the original biologic in terms of safety, purity, and effectiveness. They undergo rigorous testing and must demonstrate that they have a similar profile to the original biologic before they can be approved and made available to patients.

Although biosimilars are not identical to the original biologics, they have been shown to be just as safe and effective in treating a variety of conditions, including autoimmune diseases, cancer, and other chronic conditions.

Covid-19 scenario-

The COVID-19 pandemic created difficulties for the pharmaceutical industry to focus on R&D activities including biosimilar development, which impacted the global biosimilars market negatively.

Moreover, there was a delay in product approvals and product launches, owing to the global health crisis, which further restricted the expansion of the market.

Biosimilars are used in a variety of therapeutic areas, including oncology (cancer treatment), autoimmune diseases (such as rheumatoid arthritis and psoriasis), endocrinology (such as diabetes), and hematology (blood disorders).

Some specific examples of biosimilars that are currently available or in development include:

Biosimilar versions of the cancer drugs Avastin, Herceptin, and Rituxan, which are used to treat a variety of cancers including breast cancer, lung cancer, and lymphoma.

Biosimilar versions of the autoimmune drugs Humira, Enbrel, and Remicade, which are used to treat conditions such as rheumatoid arthritis, psoriasis, and inflammatory bowel disease.

Biosimilar versions of the diabetes drug insulin, which is used to control blood sugar levels in people with type 1 and type 2 diabetes.

Biosimilar versions of the blood disorder drugs Epogen and Neupogen, which are used to treat anemia and neutropenia, respectively.

Overall, biosimilars have the potential to make these and other life-saving treatments more affordable and accessible to patients around the world.

𝐀𝐬𝐤 𝐭𝐨 𝐎𝐮𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐄𝐱𝐩𝐞𝐫𝐭:

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𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:-

Exxon Mobil Corporation
Haihang Industry Co., Ltd.
Kent elastomer products
Kuraray Co.
Shell,Ltd.
SIBUR
Dupont
The Goodyear Tire & Rubber Company

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

Ostomy Drainage Bags Market: https://www.alliedmarketresearch.com/ostomy-drainage-bags-market

Radiofrequency Ablation Devices Market: https://www.alliedmarketresearch.com/radiofrequency-ablation-devices-market

Negative Pressure Wound Therapy (NPWT) Devices Market: https://www.alliedmarketresearch.com/negative-pressure-wound-therapy-market

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