Top Market Shifts Transforming the Biosimilars Market Landscape: Key Insights

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What Is the Expected CAGR for the Biosimilars Market Through 2025?
The expansion of the biosimilars market has been swift in recent times. Its growth is projected to shoot from $18.65 billion in 2024 to $21.85 billion in 2025 at a compound annual growth rate (CAGR) of 17.2%. The considerable growth in the historical period is due to several factors, namely, the surge in cancer cases, robust economic growth in emerging economies, increase in expenditures on pharmaceutical research and development, increased spending on healthcare, burgeoning government initiatives, a solid lineup of drugs in the pipeline, affordability of biosimilars, and a rise in the expiration of patents.

What's the Projected Size of the Global Biosimilars Market by 2029?
The biosimilars market is predicted to experience a substantial surge in the coming years, reaching a valuation of "$41.34 billion in 2029" with a CAGR of 17.3%. The expected growth during the forecast period is largely attributable to the rising rates of cancer, heightened demand for granulocyte colony-stimulating factor (G-CSF) prophylaxis, escalated healthcare spending, the immense potential of developing economies, advancements in technology, widespread use of biological drugs, an aging demographic, and improved healthcare accessibility. Key trends for the forecast period comprise a significant concentration on rigorous R&D activities to develop innovative and effective medications, a focus on growth strategies through mergers and acquisitions, an emphasis on forging strategic partnerships, an initiative to boost investments, and an inclination towards artificial intelligence.

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Top Growth Drivers in the Biosimilars Industry: What's Accelerating the Market?
An upsurge in chronic illnesses such as arthritis, asthma, and cancer has been identified as a significant factor propelling the biosimilars market. Extended work hours, inadequate physical exercise, together with unhealthy dietary and drinking practices, contribute to the rise of these chronic diseases. Biosimilars, which are increasingly utilized in the treatment of these conditions, stimulate the immune system to combat cancer cells, thereby aiding in their eradication from the body. As per an article published by the United Nations, chronic diseases are projected to account for about 70% of total global mortality by 2030. Also, the global burden of chronic diseases is anticipated to approximate to 60%. Hence, the increasing incidence of chronic illnesses is predicted to boost the demand for biosimilars, thereby enhancing the growth of the biosimilars market.

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Which Fast-Growing Trends Are Poised to Disrupt the Biosimilars Market?
In the biosimilars market, major companies are concentrating on the creation of innovative products in order to maintain and increase their competitiveness. AMJEVITA, the first U.S. biosimilar for Humira, a drug used to treat serious inflammatory diseases in over a million patients, is an example of this. Amgen Inc., a biotechnology firm based in the United States, introduced AMJEVITA (adalimumab-atto) in January 2023 as a biosimilar to Humira (adalimumab) and is now accessible in the US. AMJEVITA (40 mg) is listed at a wholesale acquisition cost that is 55% lower than the current list price for Humira. Additionally, AMJEVITA is offered at a list price that is 5% lower than the current list price for Humira.

What Are the Main Segments in the Biosimilars Market?
The biosimilars market covered in this report is segmented -

1) By Type: Monoclonal Antibodies, Insulin, Erythropoietin, Granulocyte-Colony Stimulating Factor, Other Hormones, Others
2) By Product: Recombinant Non-glycosylated Proteins, Recombinant Glycosylated Proteins
3) By Application: Oncology, Chronic And Autoimmune Diseases, Growth Hormone Deficiency, Infectious Diseases, Other Applications

Subsegments:
1) By Monoclonal Antibodies: IgG Biosimilars, Non-IgG Biosimilars
2) By Insulin: Rapid-Acting Insulin Biosimilars, Long-Acting Insulin Biosimilars, Premixed Insulin Biosimilars
3) By Erythropoietin: Epoetin Alfa Biosimilars, Darbepoetin Alfa Biosimilars
4) By Granulocyte-Colony Stimulating Factor (G-CSF): Filgrastim Biosimilars, Pegfilgrastim Biosimilars
5) By Other Hormones: Growth Hormones, Hormonal Replacement Therapy Biosimilars
6) By Others: Enzyme Biosimilars, Vaccines, Other Biologics

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Which Top Companies are Driving Growth in the Biosimilars Market?
Major companies operating in the biosimilars market include Amgen, Novartis AG, Samsung Bioepis Co., Ltd., Viatris, Celltrion, Inc., Coherus Biosciences, Eli Lilly and Company, Dr. Reddy's Laboratories, Roche India Pvt Ltd, Abbott India Limited, bioMérieux India, Becton Dickinson Private Limited, Danaher Corporation, Wuxi biologics, shanghai Henlius biotech, Innovent Biologics, Hisun Pharma, 3SBio, Beijing ShuangLu Pharmaceuticals, Qilu Pharmaceutical, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, AGC Biologics, Bio-Thera, Sandoz Pty Ltd, Apotex Pty Ltd, Cadila Pharmaceuticals, BiosanaPharma, GlaxoSmithKline, AstraZeneca, Bayer, Merck, Boehringer Ingelheim, Sanofi, Fresenius Kabi, Napp Pharmaceuticals, Mundipharma Deutschland GmbH & Co. KG, Geropharm, Valenta, NovaMedica, SynBio, Rani Therapeutics, Johnson & Johnson, Biogen Inc., Aché, Eurofarma, Teva Pharmaceuticals, Oramed Pharmaceuticals, Entera Bio, Julphar, Hikma Pharmaceuticals, BIOPHARMA-MEA, NeoTX, AID Genomics Limited, Altis Biologics, Cipla Medpro South Africa, Next Biosciences, Viome, Inqaba Biotechnical Industries (Pty)

Which Regions Will Dominate the Biosimilars Market Through 2029?
North America was the largest region in the global biosimilars market in 2024. Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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