Biosimilars Market Forecast 2024 to 2032

Biosimilars Market Forecast 2024 to 2032

Biosimilars are biological products that are highly similar to and have no clinically meaningful differences from an already approved reference biologic product. They are developed to be used as alternatives to existing biologics, offering comparable safety, efficacy, and quality. Biosimilars are produced using living organisms or cells, making them more complex than traditional chemical drugs. By providing more affordable treatment options and promoting competition in the biopharmaceutical market, biosimilars play a crucial role in expanding patient access to life-saving therapies.

Report Overview

The Biosimilars Market was valued at USD 5666.75 Million in 2022 and is expected to register CAGR of 18.43% by 2032.

The biosimilars market, which refers to the market for biologic drugs that are highly similar to existing approved biologic products, is influenced by various drivers such as cost savings, patent expirations, increasing demand for biologics, regulatory support, etc.

The Biosimilars industry is segmented By Type (Recombinant Non-glycosylated Proteins (Insulin, rHGH, Interferon), Recombinant Glycosylated Proteins), By Application (Oncology, Blood Disorders, Growth Hormonal Deficiency, Chronic and Autoimmune Disorders)

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Report Coverage:

 Market Restraints

1. Development Complexity: Developing biosimilars requires substantial investments in research, development, and manufacturing processes. The complexity involved in demonstrating biosimilarity and ensuring comparable efficacy and safety profiles to the reference biologics can pose challenges and delays in bringing biosimilar products to market.
2. Intellectual Property and Legal Challenges: The biopharmaceutical industry is characterized by extensive patent protections and legal complexities. Reference product manufacturers often employ patent strategies and litigation to protect their market exclusivity, creating legal barriers for biosimilar manufacturers.

Key Companies

Pfizer
Novartis
Biocon
Biogen
Fresenius Kabi AG
Boehringer Ingelheim
Merck KgaA
Mylan
Eli Lilly
Teva Pharmaceutical
Dr. Reddys Laboratories
Amgen
Celltrion
Samsung Biologics
Roche
Probiomed
Apotex
Chong Kun Dang
JCR Pharmaceuticals
Gan & Lee Pharmaceuticals
Gedeon Richter
Biocad
Coherus Bioscience
Stada Arzneimittel AG

Our report takes into consideration revenues of all the Tier 1, 2, 3 players in the market.

Recent News
1. India’s Biocon Biologics launches biosimilar for AbbVie’s Humira in US (Click here)
2. Biogen, Samsung Bioepis launch first US biosimilar, a copycat of Roche’s Lucentis, at 40% discount (Click here)

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Key Questions Addressed in the report Include:

Which market segments are generating the most revenue?

What is the geographical outlook for various market segments?

Where are the future investment opportunities considering the recent trends?

What is the effect of various market dynamics on the market and how will the market shape in future?

Which are Potential & niche segments and regions exhibiting promising growth?

What are the current challenges in Biosimilars Market?

Who are the major players in the Biosimilars Market and what does market share analysis looks like?

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