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Global Biosimilars Market Key Players, Demands, Trends, Growth Rate, Sales, Size, Share and Forecasts to 2028
Biosimilars Market
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Lists of Companies Profiled in the Report:
Novartis AG (Switzerland)
Pfizer Inc. (US)
Dr. Reddy's Laboratories Ltd. (India)
F. Hoffmann-La Roche Ltd (Switzerland)
Eli Lilly & Company (US)
Amgen Inc. (US)
Teva Pharmaceutical Industries Ltd. (Israel)
Samsung Biologics (South Korea)
Fresenius SE & Co. KGaA (Germany)
Boehringer Ingelheim International GmbH. (Germany)
STADA Arzneimittel AG (Germany)
CoherusBioSciences (US)
FUJIFILM Kyova Kirin Biologics Co., Ltd. (Japan)
USV Limited (India),
Amneal Pharmaceuticals LLC. (US)
Celltrion Healthcare (South Korea)
Biocon (India)
Intas Pharmaceuticals Ltd. (India)
Reliance Life Sciences (India)
AMEGA Biotech (Argentina)
Apotex, Inc. (Canada)
BIOCAD (Russia)
mAbxience (Spain)
Probiomed (Mexico)
KashivBioSciences, LLC (US),
Formycon AG (Germany)
Polpharma Biologics Group (Poland)
Amphastar Pharmaceuticals, Inc. (US)
Alvotech (Iceland)
UCB SA, (Belgium)
The biosimilars market refers to the market for pharmaceutical products known as biosimilars. Biosimilars are biological products that are highly similar to an approved reference biologic, also known as the originator or reference product. They are developed to be comparable in terms of quality, safety, and efficacy to the reference product.
"The monoclonal antibodies product segment accounted for the highest growth rate in the biosimilars market, by drug class, during the forecast period"
In 2022, the monoclonal antibodies product segment accounted for the largest share of the biosimilars market, mainly due to the low prices of biosimilar monoclonal antibodies compared to the reference drugs and increased adoption of labs in the treatment of cancer, autoimmune disorders, and osteoporosis. The growth of the fastest-growing segment was attributed to the rising incidence of cancer and chronic diseases globally. Increased approval for interchangeability insulin is likely to have positive impact on market.
"Oncology segment accounted for the largest share of the indication segment in 2022."
Based on the indication, the biosimilars market is segmented into oncology, inflammatory and autoimmune diseases, chronic diseases, blood disorders, growth hormone deficiency, infectious diseases, and other indications. Rising demand for cancer drugs, growth hormones across various regions is propelling the growth of the market.
"Asia Pacific region is likely to grow at a faster pace."
The biosimilars market is segmented into Europe, Asia Pacific, North America, latin America and Middle East and Africa. The APAC market is expected to be the fastest-growing regional segment during the forecast period due to the presence of numerous emerging players, less-stringent government regulations, and increasing cooperation among leading and regional players for development, manufacturing and commercialization of biosimilars.
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