Press release
Biosimilar Interleukins Market 2024 - By Analysis, Trend, Future Scope, Demand, Leading Key Players And Industry Growth Forecast Till 2033
Biosimilar Interleukins Market
The Business Research Company offers in-depth market insights through Biosimilar Interleukins Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The biosimilar interleukins market size has grown exponentially in recent years. It will grow from $3.9 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 39.0%. The growth in the historic period can be attributed to rising prevalence of autoimmune diseases, increasing awareness of biosimilar interleukins, growing government support for biosimilars, expansion of the biosimilar, increasing patient demand for biosimilars.
The biosimilar interleukins market size is expected to see exponentially grown in the next few years. It will grow to $20.79 billion in 2028 at a compound annual growth rate (CAGR) of 40.0%. The growth in the forecast period can be attributed to growing patient population, increased access to healthcare, growing demand for personalized medicine, growing demand for minimally invasive procedures. Major trends in the forecast period include advances in biosimilar technology, targeted immunotherapies, quality control and manufacturing, global collaboration.
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Market Segmentation:
The biosimilar interleukins market covered in this report is segmented -
1) By Type: IL-17, IL-23, IL-1, IL-5, IL-6
2) By Application: Psoriasis, Psoriatic Arthritis, Rheumatoid Arthritis, Asthma, Inflammatory Bowel Disease (IBD), Other Applications
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, Clinics, Research Institutes
Major Driver - Surging Autoimmune Diseases Propel Growth In Interleukin Biosimilars Market
The increasing prevalence of autoimmune diseases such as psoriasis and rheumatoid arthritis is expected to boost the growth of the interleukin biosimilars market in the forecast period. Autoimmune disorders are conditions in which the immune cells cannot distinguish healthy cells from potentially dangerous antibodies. Biologic drugs such as anti-interleukin antibodies have shown significant clinical benefits in regulating the cells, and in directing proliferation, activation, and migration of the cells. According to a Johns Hopkins University report published in 2021, autoimmune diseases affected approximately 3% of the population in the United States or approximately 10 million people. Therefore the increasing prevalence of autoimmune diseases is increasing the demand for the biosimilar interleukins market and is expected to drive the growth of the market.
Competitive Landscape:
Major companies operating in the biosimilar interleukins market include Mabpharm Limitied, Gedeon Richter plc, Bio-Thera Solutions Ltd., Sorrento Therapeutics, Sunshine Guojian Pharmaceutical, Stada Arzneimittel AG, Teva Pharmaceutical Industries, 3SBio Inc., Shanghai Fosun Pharmaceuticals, Biogen Inc., Novartis AG, Pfizer Inc., AbbVie Inc., Amgen Inc., F. Hoffmann-La Roche AG, Sanofi SA, Merck & Co. Inc., GlaxoSmithKline plc, Eli Lilly and Company, AstraZeneca plc, Bristol-Myers Squibb Company, Qilu Pharmaceutical, Tonghua Dongbao, PROBIOMED S.A. de C.V., Biosidus S.A., LG Life Sciences, Mylan N.V.
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Top Trend - Biogen Launches Tofidence, An Innovative Biologic Treatment
Major companies operating in the biosimilar interleukins market are innovating new products such as Tofidence (tocilizumab-bavi) to increase their profitability in the market.Tofidence is a monoclonal antibody that targets and attaches to interleukin-6 receptors, employed in the treatment of various inflammatory autoimmune disorders. For instance, in September 2023, Biogen, a US-based biotechnology company got approval from the FDA for Tofidence (tocilizumab-bavi) as the first biosimilar to reference Genentech's Actemra (tocilizumab).Tofidence is administered through intravenous infusion and has received approval for the treatment of severely active rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, and systemic juvenile idiopathic arthritis.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biosimilar Interleukins Market Characteristics
3. Biosimilar Interleukins Market Trends And Strategies
4. Biosimilar Interleukins Market - Macro Economic Scenario
5. Biosimilar Interleukins Market Size And Growth
…..
27. Biosimilar Interleukins Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Email: info@tbrc.info
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