Press release
Australia Biosimilar Market Projected to Reach USD 5,512.5 Million by 2033
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 741.6 Million
Market Forecast in 2033: USD 5,512.5 Million
Market Growth Rate 2025-2033: 22.20%
Australia Biosimilar Market Overview
Australia's biosimilar showcase is encountering critical development, driven by strong government arrangements, postings beneath the Pharmaceutical Benefits Conspire (PBS), and expanding request for cost-effective biologic medicines. The government's center on reasonable biologics has encouraged broader get to to progressed treatments whereas empowering competition among biosimilar engineers. This environment is cultivating more prominent acknowledgment among healthcare suppliers and patients, driving to upgraded accessibility and decreased treatment costs over the healthcare framework.
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Australia Biosimilar Market Trends and Drivers
The Australian biosimilar showcase is being formed by administrative bolster and national repayment methodologies. The government's center on reasonable biologics has empowered broader get to to progressed treatments whereas empowering competition among biosimilar designers. A key driver has been the Pharmaceutical Benefits Admonitory Committee (PBAC), which assesses solutions for subsidization beneath the Pharmaceutical Benefits Plot (PBS). These assessments are fundamental to guarantee patients get cost-effective medicines without compromising on quality. In May 2024, PBAC prescribed Amgen's Wezlana, the primary ustekinumab biosimilar, for PBS posting. This proposal taken after the product's endorsement by the Restorative Merchandise Organization (TGA) in January 2024. Wezlana was endorsed for Crohn's malady, ulcerative colitis, plaque psoriasis, and psoriatic arthritis-indications already served as it were by higher-cost originator items. This move signaled a turning point, empowering the integration of biosimilars into cutting edge treatment plans. The showcase has since seen more prominent acknowledgment among healthcare suppliers and moved forward accessibility over healthcare frameworks. As a result, patients presently have more reasonable choices, and biosimilar engineers pick up certainty to enter the Australian advertise. With proceeded PBAC supports and streamlined pathways for PBS postings, showcase members are anticipated to extend, boosting accessibility and decreasing treatment costs.
Australia Biosimilar Market Segmentation:
1. By Molecule:
• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa
• Adalimumab
• Pegfilgrastim
• Trastuzumab
• Bevacizumab
• Others
2. By Indication:
• Auto-Immune Diseases
• Blood Disorders
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility
• Others
3. By Manufacturing Type:
• In-house Manufacturing
• Contract Manufacturing
4. By Region:
• New South Wales
• Victoria
• Queensland
• South Australia
• Western Australia
• Tasmania
• Northern Territory
• Australian Capital Territory
Browse Full Report with TOC & List of Figures:
https://www.imarcgroup.com/australia-biosimilar-market
Australia Biosimilar Market News:
• May 2024: Amgen's Wezlana, the first ustekinumab biosimilar, was recommended by the Pharmaceutical Benefits Advisory Committee for listing under the Pharmaceutical Benefits Scheme.
• January 2024: The Therapeutic Goods Administration approved Wezlana for multiple indications, including Crohn's disease and plaque psoriasis.
Key Highlights of the Report:
1. Market Performance (2019-2024)
2. Market Outlook (2025-2033)
3. COVID-19 Impact on the Market
4. Porter's Five Forces Analysis
5. Strategic Recommendations
6. Historical, Current, and Future Market Trends
7. Market Drivers and Success Factors
8. SWOT Analysis
9. Structure of the Market
10. Value Chain Analysis
11. Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
Ask analyst for your customized sample:
https://www.imarcgroup.com/request?type=report&id=31900&flag=E
Other report by Imarc Group -
https://www.imarcgroup.com/australia-distributed-energy-market
https://www.imarcgroup.com/australia-management-consulting-market
https://www.imarcgroup.com/mobile-virtual-network-operator-market
https://www.imarcgroup.com/australia-fantasy-sports-market
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IMARC Group
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Email: sales@imarcgroup.com
Tel No: (D) +91-120-433-0800
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients across all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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