Biosimilar Market Size Worth USD 132.47 Billion in 2032 | Emergen Research

The global biosimilar market size was USD 25.50 Billion in 2022 and is expected to register a rapid revenue CAGR of 17.9% during the forecast period. The global biosimilar market is witnessing substantial growth, fueled by factors such as the increasing prevalence of cancer and autoimmune diseases, alongside a surge in regulatory approvals for biosimilar products. The latest market research report highlights key trends, developments, and insights driving the growth of the biosimilar market.

Market Drivers:

The increasing prevalence of various cancer types, including lung cancer, blood cancer, and brain tumors, is a significant driver of market revenue growth. Biosimilars, such as Ziextenzo by Novartis, play a crucial role in cancer treatment, offering complementary therapy alongside chemotherapy. With lung cancer being the second most commonly diagnosed cancer in Europe, biosimilar development remains pivotal in enhancing patient outcomes.

Click the link to get a Free Sample Copy of the Report@ https://www.emergenresearch.com/request-sample/2536

Market Developments:

The market has witnessed a rise in biosimilar development efforts, with regulatory authorities granting approvals for an increasing number of biosimilar products. As of December 2022, the Food and Drug Administration (FDA) had greenlit 40 biosimilars, with 25 available in the U.S. This trend indicates a growing focus on advancing biosimilar technology to address unmet medical needs.

Market Restraints:

Despite the promising growth trajectory, factors such as lack of awareness and high treatment costs pose challenges to market expansion. Biosimilars present a viable solution to improve access to life-saving treatments, particularly in regions where affordability remains a concern. Regulatory exclusivity and patent expiration timelines also influence market dynamics, creating both opportunities and constraints for market players.

Market Trends:

Recent trends include the approval of new biosimilar products by regulatory authorities worldwide. Companies are actively engaged in research and development efforts, leveraging advanced manufacturing methods and analytics to enhance biosimilar efficacy and accessibility.

Application Insights:

The global biosimilar market is segmented into oncology diseases, chronic and autoimmune diseases, blood disorders, and others. Chronic and autoimmune diseases account for a significant revenue share, driven by the increasing prevalence of conditions like rheumatoid arthritis. Oncology remains a key segment, with rising cancer incidence globally.

Drug Class Insights:

Monoclonal antibodies and insulin are among the leading drug classes in the biosimilar market. Monoclonal antibodies play a crucial role in targeting specific antigens, while biosimilar insulin offers cost-effective treatment options for diabetes patients.

Request For An Discount@ https://www.emergenresearch.com/request-discount/2536

End-use Insights:

Hospitals, retail pharmacies, and online pharmacies constitute the end-use segments of the biosimilar market. Retail pharmacies dominate the market, driven by increased awareness and accessibility of biosimilar products. Hospital pharmacies, on the other hand, offer convenient access to patients, contributing to steady market growth
.
Biosimilar Top Companies and Competitive Landscape

The global biosimilar market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective biosimilar solutions.

Some major players included in the global biosimilar market report are:

• Novartis AG
• Orion Pharma AB
• Pfizer Inc.
• Samsung Bioepis.
• Coherus BioSciences, Inc.
• Amgen Inc.
• Eli Lilly and Company
• Takeda Pharmaceutical Company Limited
• Bristol-Myers Squibb Company
• Merck KGaA
• Teva Pharmaceutical Industries Ltd.
• Biocon
• Bayer AG
• AbbVie Inc.
• Allergan
• Reddy's Laboratories Ltd.
• Boehringer Ingelheim International GmbH
• Biogen
• Mylan Inc.
• Sandoz Group AG

Biosimilar Latest Industry News

• In September 2022, Celltrion USA received US FDA approval for its oncology biosimilar Vegzelma for the treatment of six types of cancer, including metastatic colorectal cancer, recurrent or metastatic non-squamous Non-Small Cell Lung Cancer (nsNSCLC), recurrent glioblastoma, metastatic renal cell carcinoma, persistent, recurrent, or metastatic cervical cancer, and epithelial ovarian. Fallopian tube, or primary peritoneal cancer Vegzelma is Celltrion's third oncology biosimilar to be approved by the US FDA.

• In September 2021, BYOOVIZ (ranibizumab-nuna), a biosimilar to LUCENTIS (ranibizumab), was approved by the Food and Drug Administration (FDA) for the treatment of neovascular age-related macular degeneration, macular edema following retinal vein occlusion, and myopic choroidal neovascularization. BYOOVIZ was the first ophthalmology biosimilar to be licensed in the U.S.

Make Payment [Buy your Exclusive copy] @ https://www.emergenresearch.com/select-license/2536

Biosimilar Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global biosimilar market on the basis of application, industry vertical, end-use industry, and region:

• Biosimilar Application Insights: (Revenue, USD Billion; 2019-2032)
o Chronic and Autoimmune Diseases
o Oncology Diseases
o Blood Disorders
o Others
• Biosimilar Drug Class Insights: (Revenue, USD Billion; 2019-2032)
o Monoclonal Antibodies
1. Infliximab
2. Rituximab
3. Trastuzumab
4. Adalimumab
5. Others
o Granulocyte Colony-Stimulating Factor
o Insulin
o Erythropoietin
o Recombinant Human Growth Hormone
o Etanercept
o Follitropin
o Teriparatide
o Interferons
o Anticoagulants
o Others
• Biosimilar End-use Insights: (Revenue, USD Billion; 2019-2032)
o Hospitals Pharmacies
o Retail Pharmacies
o Online Pharmacies
• Biosimilar Insights: (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

Interested in knowing more relevant information? Click here: https://www.emergenresearch.com/industry-report/biosimilar-market

Look Over transcripts provided by Emergen Research

Plant-Based Food & Beverages Alternatives Market
https://www.emergenresearch.com/jp/industry-report/植物ベース-食品-飲料-代替品-市場
Cardiac Monitoring and Cardiac Rhythm Management Devices Market
https://www.emergenresearch.com/jp/industry-report/心臓監視および心臓リズム管理デバイス市場
Medical Devices Testing Services Market
https://www.emergenresearch.com/jp/industry-report/医療-デバイス-テスト-サービス-市場
Smart Irrigation Controllers Market
https://www.emergenresearch.com/jp/industry-report/スマート-灌漑-コントローラ-市場

Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights

About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

This release was published on openPR.