Biosimilars Market Developments, Emerging Trends, Future Plans and Regional Forecast to 2027
Overview
The biosimilars market is projected to grow at a CAGR of 7.5% during the forecast period. As per the biosimilars market research report, the global market for biosimilars is projected to grow swiftly. According to analysts, the rising pressure on the industry to reduce healthcare expenditures as well as the rising demand for biosimilars owing to the cost-effectiveness of solutions will drive the market growth during the forecast period. The biosimilars market research report offers a comprehensive analysis of the global biosimilars market and its applications, end users, region, and product segments. The dearth of healthcare professionals along with slow approval process in some regions are the elements that could influence the biosimilars market advancement throughout the forecast period. The biosimilars market research report by the healthcare and wellness industry’s expert analysts is developed to assist organizations in the biosimilars market.
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Market Segmentation:
The global biosimilars market Share has been segmented on the basis of product, application and manufacturing. Based on product, the biosimilars market is segmented into recombinant glycosylated proteins, recombinant non-glycosylated proteins and others. The recombinant glycosylated proteins segment includes monoclonal antibody (mAb) and EPO. The recombinant non-glycosylated proteins segment is sub-segmented into insulin, growth hormones and others. Based on application, the biosimilars market is segmented into immune diseases, oncology, blood related disorders and others. Based on manufacturing, the biosimilars market is segmented into contract manufacturing and in-house manufacturing.
Regional Analysis:
Geographically, the global biosimilars market has been segmented into four major regions such as North America, Asia Pacific, Europe and the Middle East and Africa. Among these, the Europe region is projecting dominance over the global biosimilars market owing to the rise in research and development activities in the healthcare sector and high healthcare expenditure by the population of this region. With respect to market size, the North America region stands second in the global biosimilars market. The high prevalence of chronic and acute diseases and easy adoption of advanced technology for diagnosis of these diseases in the well-developed healthcare sector is majorly driving the biosimilars market in the North America region. The biosimilars market in the Asia Pacific region is projecting significant growth owing to increasing demand for advanced diagnostic techniques and increasing prevalence of chronic diseases in this region.
Key Players:
The prominent players profiled by MRFR in the report on the global biosimilars market are Pfizer Inc. (the U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Sandoz International GmbH (Germany), Celltrion, Inc. (South Korea), Astra Zeneca (the UK), Amgen Inc. (the U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Biocon Ltd. (India), Dr. Reddy’s Laboratories Ltd. (India), Novartis (Switzerland), Accord Healthcare (the U.K.), Eli Lilly (the U.S.) and Samsung Bioepis (South Korea).
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS
FIGURE 2 MARKET STRUCTURE OF THE GLOBAL BIOSIMILARS MARKET
FIGURE 3 MARKET DYNAMICS OF THE GLOBAL BIOSIMILARS MARKET
FIGURE 4 GLOBAL BIOSIMILARS MARKET SHARE, BY PRODUCT, 2020 (%)
FIGURE 5 GLOBAL BIOSIMILARS MARKET SHARE, BY APPLICATIONS, 2020 (%)
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