The global Biosimilars market was valued at USD 8.69 Billion in 2020 and is expected to reach USD 72.74 Billion by year 2028, at a CAGR of 30.8%. Biosimilar are alternatives to existing patented, and approved biologicss and possess similar medicinal properties as compared to the original biologics. The biosimilars vary a little from original biologics in terms of structure but must have similar safety and efficacy as compared to the originator biologics. Biosimilars development does not require Phase II clinical trial for approval and the focus is put on determination of ‘biosimilarity’ to the reference originator biologics. Thus it has much reduced clinical development timelines and reduced product costs as compared to use of original biologics.
The global market is driven by various of factors such as global prevalence of target disease prevalence across the globe, launch of biosimilars by various market players, favorable investments scenario, and upcoming patent expiry.
The Biosimilars market is characterized by presence of significant number of pharmaceutical giants as well as emerging players operating across the globe. Additionally, availability of research fundings, demand for cheaper biologics alternative and favorable regulatory scenario in Europe and Asia pacific is propelling the market in these regions. However, some regions such as U.S are facing slow adoption of biosimilars with first biosimilar approved in 2015 for Sandoz’s Zarxio (filgrastim), and 3, 5, and 7, biosimilars approved by FDA in 2016, 2017, and 2018, respectively..
Top Companies Profiled in the Report Include:
Dr. Reddy’s Laboratories
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1177
Further key findings from the report suggest:
- Biosimilars market is growing at a CAGR of 2% in Asia Pacific followed by North America and Europe, with 21.0% and 31.4% CAGR, respectively. High chronic disease prevalence across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, Recombinant Non-glycosylated Proteins is the dominating Biosimilars which holds over 60% of the global market. European regional market is the chief revenue generating source for this product segment, followed by North America and Asia-Pacific regions.
- Recombinant Glycosylated Proteins is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 33.4%. However, regulatory obstacles and manufacturing complexity are major challenge for the market growth of this market segment.
- Recombinant Peptides segment was estimated to account for USD 501.00 million in 2018 and is expected to grow reach USD 4.38 Billion by year 2028.
- Asia Pacific is expected to account for the 32.8% of the global Biosimilars market. Developing nations such China, and India are likely to witness high growth.
- Some regions such as U.S. and Latin America are facing slow adoption of biosimilars due to stringent regulatory framework..
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1177
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Biosimilars market in these key regions.
Country-wise regional analysis covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
To know more about the report @ https://www.reportsanddata.com/press-release/biosimilars-market
Additionally, the report consists a detailed analysis of the segmentation of the Biosimilars market based on product types and end-use/application offered in the Biosimilars market.
Type (Revenue, USD Million; 2018–2028)
Recombinant Non-glycosylated Proteins
Recombinant Human Growth Hormone
Granulocyte Colony-stimulating Factor
Recombinant Glycosylated Proteins
Other Monoclonal Antibodies
Disease Type (Revenue, USD Million; 2018–2028)
Growth Hormone Deficiency
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1177
Read More Reports –
Pharmacogenomics (PGx) Market – https://www.7newswire.com/press-release/pharmacogenomics-pgx-market-segmentation-industry-analysis-by-production-consumption-revenue-and-growth-rate-by-2027-reports-and-data/
Mammography Equipment Market – https://www.7newswire.com/press-release/mammography-equipment-market-size-top-countries-data-industry-share-company-overview-industrial-statistics-regional-economy-development-and-forecast-to-2028/
Thank you for reading our report. For customization inquiry or further information, please connect with us and we will ensure you get the report that meets your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370