Press release
Biosimilar Market Analysis, Growth Report, Key Factor, Top Companies and Revenue 2023-2028
The global biosimilar market size reached US$ 16.8 Billion inย 2022. Looking forward, IMARC Group expects the market to reach US$ 77.1 Billion byย 2028, exhibiting a growth rate (CAGR) of 25.9% duringย 2023-2028.ย
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/biosimilar-market/requestsample
What are Biosimilars services?
Biosimilars are medical products highly similar to an already-approved biological product, known as the "reference product," in terms of safety, purity, and efficacy. They are derived from living organisms, such as cells and tissues, and are commonly used for the treatment of various diseases, including cancer, diabetes, and autoimmune disorders. Due to their complex nature and manufacturing process, biosimilars offer an alternative, usually at a lower cost, without compromising on the quality and efficacy of treatment.
What are the growth prospects and trends in the Biosimilars industry?
The rise in chronic diseases and the growing emphasis on cost-effective treatment options are fueling the demand for biosimilars. Their affordability compared to reference biological products serves as a significant driver of market growth. Furthermore, the expiration of patents for multiple blockbuster biological drugs is paving the way for the entry of biosimilars, thereby expanding market opportunities. Manufacturers are investing in research and development to match the safety and efficacy of reference biological products, which, in turn, supports market growth. Regulatory approvals also play a crucial role; streamlined guidelines from health authorities can expedite the introduction of new biosimilars to the market.
Besides their use in treating chronic diseases, biosimilars are also gaining traction in preventive medicine. For instance, biosimilar vaccines are being developed to combat a range of infectious diseases, thereby broadening their consumer base and contributing to market expansion. Specialized companies that focus on the development of high-quality biosimilars are enhancing their portfolios, aiming to offer effective yet affordable solutions for both common and rare diseases. Distribution channels for biosimilars include pharmacies, healthcare providers, and online platforms specializing in healthcare products. Additionally, their increasing adoption in emerging markets, where the focus on affordable healthcare solutions is intense, further propels market growth.
Who are the key players operating in the Biosimilars industry?
The report covers the major market players including:ย
Novartis
Pfizer
Teva
Celltrion
Merck & Co
Samsung Bioepis
Eli Lilly
Biocon
Reddy's Laboratories
Amgen
Boehringer Ingelheim
What is included in market segmentation?
The report has segmented the market into the following categories:
Molecule insights:ย
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
๐๐ฉ๐๐๐ค ๐ญ๐จ ๐๐ง ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐จ๐ซ ๐๐๐ญ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/request?type=report&id=497&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email:ย sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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