Biosimilar Market Research Report

Growth Opportunities in the global biosimilar market look promising over the next six years. An increase in fast food consumption among people and a rise in the inactive lifestyle are the key factors driving the growth of the global biosimilar market.

Introduction of the Biosimilar Market:

Biosimilar refers to the type of biologic medical product, which is similar in reference to biologic. It does not have a clinically meaningful difference with regards to safety, purity, and potency. It is a type of drug which is produced by proteins and pieces of proteins (either natural or artificial). Biosimilars are made from living cells and require expertise and state-of-the-art technology in development and manufacturing. Biosimilar goes through multiple paths for FDA approval. Once approved, it needs special approval, which must be considered before it gets replaced automatically for its brand name drug.

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Biosimilar Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The global biosimilar market is projected to witness strong growth in the market during the forecast period. This is mainly due to growth in the penetration of chronic diseases worldwide driven by the increase in fast food consumption among people and the rise in inactive lifestyle. According to the biosimilar market forecast, the decreased clinical trials have improved patients' access to the treatment due to the low cost of biosimilars. This is a major factor in boosting the growth of the biosimilars market share in terms of revenue. There has been an upsurge in demand for the market in the upcoming years include an increase in the number of diagnoses of specific pathologies and the growth in the introduction of new biologic products. As per the biosimilar market research, the increasing geriatric population, growing R&D activities across different regions like Asia-Pacific, and rising focus on minimizing the healthcare cost across developing economies are the major factors fuelling the growth of the global biosimilar market size across the world. On the other hand, the presence of several complexities in the manufacturing process and limited definitive standards for approval are the factors restraining the growth of the global biosimilar market.

Based on the region, the Europe region is projected to dominate the market during the forecast period. This is attributed to the strong demand for biosimilars among the population, driven by the growing number of patients with chronic diseases across the region. Additionally, the presence of various key biopharmaceutical companies in the region and an increase in the geriatric population are some other key drivers propelling the growth of the biosimilars market in the region.

Key Players of the Global Biosimilar Market:

·        Pfizer Inc.

·        Sandoz International GmbH

·        Teva Pharmaceutical Industries Ltd.

·        Eli Lilly and Company

·        Biocon

·        Celltrion Healthcare Co., Ltd.

·        Samsung Biologics

·        Amgen Inc.

·        Dr. Reddy’s Laboratories Ltd.

·        Viatris Inc.

Biosimilar Market Segmentation:

Segmentation by Product:

·        Insulin

·        Monoclonal Antibodies

·        Erythropoietin

·        Granulocyte Colony-Stimulating Factor

·        Etanercept

·        Recombinant Human Growth Hormone

·        Teriparatide

·        Follitropin

·        Interferons

·        Enoxaparin Sodium

·        Calcitonin

·        Glucagon

Segmentation by Type of Manufacturing:

·        Contract Manufacturing

·        In-House Manufacturing

Segmentation by Indication:

·        Chronic Diseases

·        Oncology

·        Blood Disorders

·        Autoimmune Diseases

·        Infectious Diseases

·        Growth Hormone Deficiency

·        Other Indications

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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