openPR Logo
Press release

Biosimilars Market is projected to expand at a CAGR of 14.1% and reach a size of US$ 100.5 Bn by the end of 2032

04-19-2023 08:59 AM CET | Health & Medicine

Press release from: Persistence Market Research

The biosimilars market refers to a range of pharmaceutical products that are designed to be highly similar to existing biologic drugs, known as reference products. Biosimilars are developed using complex manufacturing processes and are designed to be equivalent in terms of safety, efficacy, and quality to their reference products.

The global biosimilars market is projected to expand at a noteworthy CAGR of 14.1% and reach a size of US$ 100.5 Bn by the end of 2032, up from the current industry value of 30.1 Bn.

The hematology vertical, based on application, accounts for almost 45% of the total share of market revenue after having been valued at US$ 13.6 Bn at the end of 2021.

Need More Insights on Competitor Analysis of the Biosimilars Market, Request for Sample@ https://www.persistencemarketresearch.com/samples/2782

One of the key drivers of the biosimilars market is the increasing demand for cost-effective biologic drugs. Biologic drugs are often expensive and can be a burden on healthcare systems and patients. Biosimilars offer a more affordable alternative to reference products and are expected to play a critical role in increasing access to biologic drugs.

 Companies

Pfizer Inc.
Sandoz International GMBH
Eli Lily & Company
Hospira Inc.
Amgen, Inc.
Biocon Ltd.
Actavis, Inc.
Cipla Ltd.
Teva Pharmaceutical Industries, Ltd.
Dr. Reddy's Laboratories Ltd.
Celltrion, Inc.
Stada Arzeimittel Ag
Mylan, Inc.
Wockhardt Ltd.

If You Want To Know The Business Opportunity/Market Value, Purchase The Premium Insight @ https://www.persistencemarketresearch.com/checkout/2782

Another factor driving the biosimilars market is the increasing prevalence of chronic diseases such as cancer, autoimmune diseases, and diabetes. Biologic drugs have revolutionized the treatment of these diseases, but their high cost has limited access to these life-saving therapies. Biosimilars offer an opportunity to increase access to these therapies, which is driving their adoption.

However, there are also some challenges facing the biosimilars market. One of the main challenges is the complex regulatory environment for biosimilars. Biosimilars are subject to rigorous testing and approval processes, which can be time-consuming and costly. In addition, there is a lack of awareness and understanding of biosimilars among healthcare providers and patients, which may limit their adoption.

Market Trends and Opportunities

Discounted biosimilar prices will continue to hold a major impact on overall biosimilar sales, as patients will remain the key beneficiaries. Innovators' price dropping with heavy discounts is a recent, ongoing trend among manufacturers based in progressing biosimilar markets. This will be a popular trend throughout the forecast period as well, eventually spurring the global biosimilars market growth.

Furthermore, biosimilar manufacturers are likely to trial multiple production volumes or production on different scales. The potential profitability of manufacturing multiple biosimilar products in the same facility can also be a favorable growth opportunity for biosimilar manufacturing companies during the forecast period.

A number of leading manufacturers are focusing on strategic collaborations. In addition, a large number of players are increasingly outsourcing the production of biosimilar products. Both these trends will favor the market over the next few years.

If you want to Purchase Specific Insights by Segment/Region/Competitor, Request For Customization @ https://www.persistencemarketresearch.com/request-customization/2782

Biosimilars Industry Research by Category

By Product Type:

Recombinant Glycosylated Proteins
Recombinant Non-Glycosylated Proteins

By Application:

Hematology
Growth Hormone Deficiency
Oncology
Diabetes Autoimmune
Disease
Others

By Distribution Channel:

Hospital Pharmacies
Online Pharmacies
Retail Pharmacies

By Region:

North America
Latin America
Europe
South Asia and Pacific
East Asia
Middle East and Africa

Top Market Research Reports:

Gene Expression Analysis Market: https://www.persistencemarketresearch.com/market-research/gene-expression-analysis-market.asp

X-ray Photoelectron Spectroscopy Market: https://www.persistencemarketresearch.com/market-research/xray-photoelectron-spectroscopy-market.asp

Arthroscopic Devices Market: https://www.persistencemarketresearch.com/market-research/arthroscopic-devices-market.asp

Medical X-Ray Detectors Market: https://www.persistencemarketresearch.com/market-research/medical-x-ray-detectors-market.asp

Media Contact:
Persistence Market Research
305 Broadway,7th Floor New York City, NY 10007 United States
Call +1-646-568-7751
Call +1 800-961-0353
sales@persistencemarketresearch.com

About Us

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

This release was published on openPR.

Permanent link to this press release:

Copy
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 Biosimilars Market is projected to expand at a CAGR of 14.1% and reach a size of US$ 100.5 Bn by the end of 2032 here

News-ID: 3019203 • Views:

More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by Sustainability and Supply Chain Efficiency
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Growth - Persistence Market Research
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Healthcare Demand
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained

All 5 Releases


More Releases for Biosimilars

Transformative Trends Impacting the Biosimilars Market Landscape: Innovative Pro …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. Biosimilars Market Size Valuation Forecast: What Will the Market Be Worth by 2025? The dimensions of the biosimilars market have been rapidly expanding over the last couple of years. The escalation, from a worth of $18.65 billion in 2024 to an estimated value of $21.95 billion in 2025, denotes
Evolving Market Trends In The Biosimilars Industry: Innovative Product Launched …
The Biosimilars Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories]. What Is the Expected Biosimilars Market Size During the Forecast Period? The dimension of the biosimilars market has experienced substantial expansion in the last few years. The market value, which was at $18.65 billion in 2024,
Prominent Rituximab Biosimilars Market Trend for 2025: Collaborative Innovations …
Which drivers are expected to have the greatest impact on the over the rituximab biosimilars market's growth? The rituximab biosimilars market is anticipated to grow due to the projected increase in non-Hodgkin's lymphoma (NHL) cases. NHL is a cancer that originates in the white blood cells and lymphocytes, which are integral parts of the body's immune system. For example, the American Cancer Society, a cancer advocacy group based in the US,
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 | Global Biosimilars Industry | Global Biosimilars Mar …
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
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