US Biosimilar Market Size, Share, Growing Trends and Report Forecast 2023-2028

According to IMARC Group's latest research report, titled "United States Biosimilar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the United States biosimilar market. The report also includes

How Big Is the United States Biosimilar Market?

The United States biosimilar market is projected to exhibit a growth rate (CAGR) of 21.4% during 2023-2028. The increasing need for cost-effective treatments due to rising healthcare costs, the escalating number of collaborations and partnerships between companies, and investment in education and clear communication strategies around biosimilars are some of the key factors driving the market.

What is Biosimilar?

Biosimilar refers to biological products that are similar to, but not identical to, an already approved reference biologic medicine. It comprises interchangeable and non-interchangeable biosimilars, which are not deemed interchangeable with the reference biologic and require healthcare provider involvement in the decision to switch or initiate treatment. It relies on comprehensive testing to demonstrate its similarity with the reference product, including structural, functional, and pharmacokinetic studies. It is passed through an immunogenicity assessment to identify potential risks related to the development of antibodies. Furthermore, as biosimilar can reduce treatment costs significantly, making healthcare more affordable and accessible, its demand is rising in the United States.

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United States Biosimilar Market Trends and Drivers:

At present, the increasing demand for biosimilars in oncology for the treatment of cancer, as well as in the management of autoimmune diseases like rheumatoid arthritis, psoriasis, and Crohn's disease, represents one of the crucial factors impelling the growth of the market in the United States. Besides this, the rising prevalence of chronic ailments, such as cancer, diabetes, and autoimmune conditions, is propelling the growth of the market. In addition, the growing advancements in manufacturing technologies and analytical techniques to improve the quality and consistency of biosimilar products are offering a favorable market outlook. Apart from this, the increasing focus on providing access to advanced biological treatments to patients is bolstering the growth of the market in the United States.

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What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Molecule Insights:
• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa
• Adalimumab
• Pegfilgrastim
• Trastuzumab
• Bevacizumab
• Others

Manufacturing Type Insights:
• In-house Manufacturing
• Contract Manufacturing

Indication Insights:
• Auto-Immune Diseases
• Blood Disorder
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility
• Others

Regional Insights:
• Northeast
• Midwest
• South
• West

Key Benefits for Stakeholders:
• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States biosimilar market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the United States biosimilar market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States biosimilar industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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