Manufacturers are always focused on R&D activities in improving their already approved products and developing novel drugs. This figure is forecasted to grow at a remarkable compound annual growth rate (CAGR) of 39.39% and reach USD 32.93 billion by 2027. With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the China Biosimilar market to help players . USA: +1-302-846-7766 High influx of funds in innovating treatment for the coronavirus led the pharmaceutical industry into an overdrive. The hematology segment accounted for around 45% revenue share in 2021 and was valued at USD 13,600 million during the same year. The COVID-19 pandemic rendered catastrophic effects on the worlds economy, which did not spare the healthcare ecosystem. FutureWise Research has . It is anticipated to exhibit a CAGR of 34.2% during the forecast period. Filgrastim is majorly used to treat the neutropenia caused by cancer medications by aiding the bone marrow to produce new granulocytes. The U.S. accounted for the largest revenue share in the North American market owing to the growing number of product approvals, rising demand for biosimilars, and regional presence of leading players in the market. Figure 1. The death rate due to cancer is high in low- and middle-income countries with about 70% deaths caused by cancer. TBRC global biosimilar therapeutic market report includes parenteral route, transdermal route, cancer, cardiovascular, central nervous systems, metabolic disorders. Biosimilar Market in Europe: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 ABOUT US CONTACT US FAQ LOGIN / REGISTER 0 USDUSD +353-1-416-8900 REST OF WORLD 1-800-526-8630 U.S. (TOLL FREE) Healthcare Medical Devices Respiratory Medical Imaging Needles & Syringes Surgical Hospital Disposables Cardiovascular The Biosimilars Market is projected to be worth USD 70.14 Billion by 2028, registering a CAGR of 24.3% during the Forecast Period - 2022-2028 . Biosimilars are derived from yeast, animals, bacteria, plants, and viruses. as per the latest research report by Spherical Insights & Consulting. According to the International Agency for Research on Cancer, around 19.3 million new cancer cases and around 10 million cancer related deaths were reported in the year 2020, across the globe. The rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer, and kidney failure can be treated effectively using biosimilars, which is expected to drive the market growth in the upcoming years. The rising prevalence of leukemia is directly proportional to the high demand for biologic medical products globally and is expected to help the market surge over the analysis period. For instance, in January 2021, Biogen and Samsung Biologics entered into a strategic partnership by forming Samsung Bioepis which has launched several biosimilars of infliximab, etanercept, adalimumab, and trastuzumab in Europe. Biosimilars market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030, for the following segments: The above information is provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. The major players operating in the biosimilars market are Novartis, Synthon Pharmaceuticals, Inc., TevaPharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono, Biogen idec, Inc., Genentech. Access to only 1 person; cannot be shared; cannot be printed, Access for 2 to 5 users only within same department of one company, Access to a company wide audience; includes subsidiary companies or other companies within a group of companies, We use cookies to enhance user experience, Industry The shortened method will minimize needless and unethical biosimilar testing in both animals and humans. Additionally, increasing prevalence of arthritic disorder and obesity across the globe in geriatric population is anticipated to drive the demand for . Biosimilars, for example, are 30 percent less expensive than traditional biologic medications in Europe, where 21 have been approved. Major market players in the biosimilars market include Amgen Inc.; F. Hoffmann-La Roche Ltd.; Sandoz International GmbH; Dr. Reddys Laboratories Ltd.; Teva Pharmaceutical Industries Ltd.; Pfizer Inc.; Samsung Bioepis; Biocon; and Mylan N.V. b. Biosimilars Market - Strategic Insights To Get a Free Sample Click here Sie knnen Ihre Einstellungen jederzeit ndern. Several leading companies such as Hospira, Celltrion, Pfizer, Inc., Samsung Bioepis, and Biocon have announced positive outcomes from the clinical trials of their biosimilar candidates. For instance, according to the American Cancer society, around 200,000 new cases of breast cancer and 60,000 new cases of leukemia were diagnosed in the U.S. in 2022. See for yourself. 6. Browse key industry insights spread across 196 pages with 119 market data tables and figures & charts from the report Global Biosimilars Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Product (Recombinant Human Growth Hormone (RHGH), Granulocyte Colony-Stimulating Factor, Interferon, And Others), By Manufacturing Type (In-House Manufacturing, And Contract Manufacturing), By Technology (Recombinant DNA, And Monoclonal Antibodies), By Application (Offsite Treatment, Oncology, Chronic Disorder, Autoimmune Disease, And Others) And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2021 2030 in detail along with the table of contents, Buy Now Full Report: https://www.sphericalinsights.com/checkout/1140. The favorable regulatory environment, government support, and increasing prominence to cut down healthcare expenditures in these countries are some of the key reasons for high product adoption in these regions. Europe held the largest market share in terms of revenue in 2021 due to the presence of a well-defined regulatory framework for biosimilars and major biopharmaceutical companies such as Johnson & Johnson, Novartis, AstraZeneca, Pfizer, Merck, Sanofi, and GlaxoSmithKline. This drug is a biosimilar to Avastin, developed by Roche and was approved by Health Canada for four oncology indications. This is attributed to the rising demand for biosimilars worldwide. The country's market has amassed 382 biologic drugs and vaccines, but only 21 are originator products. Hence, the aforementioned parameters will impede the industry growth. U.S. biosimilars market value is anticipated to cross USD 21 billion by 2030 as the government has increased the approval rate for several pharmaceutical products in recent years. The global biosimilars market size was valued at USD 4.36 billion in 2019. Please wait while we are processing your request Biosimilars Market Size & Share, Industry Report, 2020 - 2025. SPHERICAL INSIGHTS LLP. Your personal details will remain secure and confidential. We estimate sales will potentially triple in size to $15 billion by 2020, or closely thereafter. The rising number of kidney related diseases are expected to propel the growth of this segment. The rising prevalence of diseases and the effective treatment of these chronic diseases at affordable costs are the two major drivers of the global biosimilars market. Europe has already approved over 60 biosimilar brands and accounts for around 50% of the market value. New Jersey, United States - In a recently published report by Verified Market Research, titled, "Global Infliximab And Biosimilar Market Report 2022", the analysts have provided an in-depth overview of Global Infliximab And Biosimilar Market.The report is an all-inclusive research study of the Global Infliximab And Biosimilar market taking into account the growth factors, recent trends . In addition, increasing incidence of chronic diseases such as diabetes, cancer, arthritis, Alzheimers disease, chronic kidney disease, and chronic pain is expected to boost the market growth. The technological advancements have led to cancer being a somewhat manageable disease during the recent times. The Biosimilar market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. The Global Biosimilars Market size is estimated to be USD 10.54 billion in 2019 and is predicted to reach USD 263.57 billion by 2030 with a CAGR of 34.0% from 2020-2030. Similar biological products, follow-up biologics, subsequent entry biologics, second entry biologics, biogenetics, multisource goods, and off patent biotech products are all synonyms for biosimilars. Biosimilars market is expected to reach US$ 100.5 Bn by the year 2032 as compared to the value of US$ 30.1 Bn . As a result, it's simple to understand how the type and number of resources required for biosimilar research can create significant obstacles to entry, not just for small to mid-sized businesses, but also for bigger, well-established generics companies and multinational biopharmaceutical firms. The patent and Intellectual Property Rights (IPR) expirations of these biological drugs are presenting huge opportunities for biosimilar manufacturers to tap this market. Research, Media The European market is expected to continue to mature and the US offers opportunities, despite many practical challenges. Manufacturers also pose challenges in controlling the variability during the production of biosimilars as opposed to their reference products. Catalyzed by these factors, the market is expected to reach US$ 60.8 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027. For instance, in April 2022, Amgen reported positive outcomes from the phase III study of its biosimilar candidate (abp 654) to Stelara (ustekinumab). Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. [150 Pages Report] The Biosimilars Market size was valued at USD 12,915.10 million in 2021 and is estimated to reach at a compound annual growth rate CAGR of 12.4% over the forecast period 2022 to 2029. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Therefore, there is an increasing demand for low-cost therapeutic drugs that are highly effective and less expensive. Moreover, they are also focusing on maintaining competitive pricing. Market Overview: Biosimilars are biotherapeutic products that are particularly identical to a reference biologic drug. All the aforementioned factors prove in-house manufacturing to be a more efficient to develop the products. . High prevalence of chronic diseases such as diabetes, cancer, growth hormone deficiency, and anemia is expected to further fuel market expansion in the near future. Thus, there is a rising demand for innovative therapeutic products at low cost which is expected to drive growth. The China Biosimilar market size is projected to reach US$ 5673.39 million by 2027, from US$ 631.56 million in 2020, at a CAGR of 27.44% during 2021-2027. Different regulatory bodies including European Medicines Agency, U.S. Food and Drug Administration (FDA), and China Food and Drug Administration have diverse regulations for drug approvals. Please fill out the form below for a free PDF report sample & This allows for the evaluation of the overall competition within the market. The Global Biosimilars market is segmented by type, application, and geographic region. More? Some of the prominent players in the global biosimilars market include: No cookie-cutter, only authentic analysis take the 1st step to become an Precedence Research client. Stringent government regulations for the development and production of biosimilars could hinder biosimilars market growth. The market is slated to witness a CAGR of 14.1% between 2022 and 2032 . The cost-effectiveness of biosimilar drugs and the high prevalence of chronic disorders globally are some major factors contributing to biosimilars market growth. Thus, the COVID-19 pandemic proved to be an accessory in the fast-growing demand for biologic medical products and positively impacted the biosimilars market statistics. & Specialty Chemicals, Electronics According to many nations' rules, a similar biologic is a biological product/drug created using genetic engineering techniques and claimed to be "similar" to a reference biologic in terms of safety, efficacy, and quality. Based on region, Europe dominated the global biosimilars market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. The biosimilars market recorded a notable revenue share in the market in 2021 and is set to be worth more than USD 66.2 billion by the end of 2030. Biosimilars are simply two similarly manufactured rDNA technology products. The Global Biosimilars Market size is expected to reach $59 billion by 2028, rising at a market growth of 24.4% CAGR during the forecast period. The growing popularity of the biosimilars in the North America and the presence of numerous market players in the region are investing heavily in the research of the biosimilars, which arew expected to drive the growth of the market in this region. Biosimilars market is expected to reach US$ 100.5 Bn by the year 2032 as compared to the value of US$ 30.1 Bn at present. // Electromagnetic Turtle Ruling, Vertical Bottle Drying Rack, 2001 Playoff Bracket Nba, Bloomer School District, High School Years In Order, Stargate Finance Bridge, Naruto Booster Box List, Fs Achs Medical Abbreviation, American Campus Pay Rent,