The “Global Biosimilars Market Size By Product (Monoclonal Antibodies, Insulin, Erythropoietin), By Indication, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Biosimilars Market, including its growth prospects, market trends, and market challenges
JERSEY CITY, N.J., Oct. 6, 2023 /PRNewswire/ — The Global Biosimilars Market is projected to grow at a CAGR of 24.9% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 14.7 Billion in 2022 and is expected to reach USD 109.2 Billion by the end of the forecast period.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=8889
Browse in-depth TOC on “Biosimilars Market“
202 – Pages
126 – Tables
37 – Figures
Global Biosimilars Market Shows Robust Growth: Market Drivers and Emerging Opportunities Highlighted
The global Biosimilars Market is witnessing significant growth, driven by a surge in demand for cost-effective biologic drugs, an aging population, and strategic industry collaborations. A biosimilar, defined as a biological medical product mirroring an original product but manufactured by a different company, has become a cornerstone of the pharmaceutical landscape. These officially approved copies gain prominence after the expiration of the original product’s patent, offering accessible and effective treatment options.
Biosimilars Market Definition:
Biosimilars, marked by their high molecular complexity and sensitivity to manufacturing processes, are a vital segment of the pharmaceutical industry. These products, maintaining consistent quality and clinical performance throughout their lifecycle, are poised to revolutionize healthcare by providing innovative and affordable therapies.
Biosimilars Market Drivers:
The Biosimilars Market is propelled by several key drivers:
- Demand and Cost-Effectiveness: The escalating demand for biosimilar drugs, owing to their cost-effectiveness, has significantly bolstered market growth. Biosimilars, priced 20–30% lower than their branded counterparts, ensure substantial cost savings and enhance patient accessibility to highly effective treatments.
- Strategic Partnerships and Agreements: Collaborations among pharmaceutical companies are driving innovation and accessibility. These alliances aim to make high-quality, low-cost therapies available to patients, shaping the market landscape.
- Regulatory Framework: Despite challenges, the market is evolving, supported by a robust regulatory framework. Regulatory approvals are facilitating the market entry of biosimilars, contributing to their global adoption.
Biosimilars Market Outlook and Opportunities:
The Biosimilars Market is set for remarkable expansion in the coming years, driven by:
Emerging Markets: Developing economies present lucrative opportunities for market growth. Increasing healthcare awareness and rising demand for affordable treatments are propelling the adoption of biosimilars in emerging markets.
Patent Expirations: The expiration of patents on blockbuster biologics opens avenues for biosimilar manufacturers. This creates a competitive landscape and encourages research into new indications, driving market innovation.
Technological Advancements: Ongoing research and technological advancements are enhancing the development and production processes, ensuring high-quality biosimilars for patients worldwide.
Biosimilars Market Key Players:
Prominent players in the Biosimilars Market, contributing significantly to its growth, include Pfizer Inc., Sandoz (Germany), Amgen Inc., Biocon (India), Celltrion (South Korea), Samsung Biologics (South Korea), Novartis AG, Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd, Fresenius Se & Co. KGaA, Stada Arzneimittel AG, Boehringer Ingelheim, Gedeon Richter Plc.
The Biosimilars Market’s trajectory is defined by innovation, affordability, and strategic collaborations. As the market continues to evolve, it promises groundbreaking solutions, making high-quality therapies accessible to a broader population. With a focus on research, regulatory compliance, and strategic partnerships, the Biosimilars Market is poised for a vibrant future.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Biosimilars Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Biosimilars Market into Product, Indication, And Geography.
- Biosimilars Market, by Product
- Monoclonal Antibodies
- Insulin
- Granulocyte Colony-Stimulating Factor
- Erythropoietin
- Recombinant Human Growth Hormone
- Etanercept
- Follitropin
- Teriparatide
- Interferons
- Enoxaparin Sodium
- Glucagon
- Calcitonin
- Biosimilars Market, by Indication
- Oncology
- Inflammatory And Autoimmune Diseases
- Chronic Diseases
- Blood Disorders
- Growth Hormone Deficiency
- Infectious Diseases
- Other Indications
- Biosimilars Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Browse Related Reports:
Human Insulin Market By Application (Type I Diabetes, Type II Diabetes), By Delivery Device (Syringes, Pens, Pen Needles), By Brand (HI Analogs And Biosimilars, HI Biologics), By Type (Insulin Analogs And Biosimilars, HI Biologics), By Product Type (HI Drugs, HI Delivery Devices), By Geography, And Forecast
Biopharmaceutical CMO and CRO Market By Product (Biosimilars, Biologics), By Source (Mammalian, Non-mammalian), By Service (Contract research, Contract Manufacturing), By Geography, And Forecast
Biosimilar Monoclonal Antibodies (mAbs) Market By Product (Erythropoietin (EPO), Human Growth Hormone (HGH), Granulocyte- Colony Stimulating Factor (G-CSF)), By Application (Anti-Cancer and Anti-Inflammatory/Autoimmune), By Geography, And Forecast
Biostimulants Market By Active Ingredient (Humic Substances, Microbial Amendments, Seaweed Extracts), By Application Method (Seed Treatment, Soil Treatment, Foliar Treatment), By Crop Type (Turfs and Ornamentals, Fruits and Vegetables, Row Crops), By Form (Liquid and Dry), By Geography, And Forecast
Top 10 Biostimulant Companies researching trace elements through agronomical activities
Visualize Biosimilars Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research® is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research® provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.
Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/2015407/VMR_Logo.jpg
View original content to download multimedia:https://www.prnewswire.com/news-releases/biosimilars-market-size-worth-usd-109-2-billion-globally-by-2030-at-24-9-cagr-verified-market-research-301949447.html
SOURCE Verified Market Research
Featured image: Megapixl © Nikesidoroff