Biosimilars have a very complex molecular structure and they have similar characteristics as compared to their reference medicine. Biosimilars are mainly used to derive known effective medicinal products that have an expired patent. They are highly reliant on data analysis and they go through high quality and safety standards similar to that of Biological medicines. Biologics have a range of therapeutics and diagnostics based on them for prevalent diseases, although the cost incurred during this treatment is very high. Therefore, Biosimilars is a cost-effective substitute for Biologics since it provides the same quality of treatment at a lower cost.
Since the Biosimilars market is growing popular with time, it is seen that increasing awareness has been the main driver for this market. Concerning application, Oncology has been another key driver for this market mainly due to widespread Cancer in different parts of the world. Some of the key market players include Pfizer (US), Sandoz (Germany), Biocon (India), Biogen (US), etc.
The increasing frequency of chronic diseases such as diabetes, cancer, others that can be treated with biosimilars is probable to boost the market growth. Moreover, the prevalence of health problems like diabetes which has a means of treatment via biosimilars also aids the market growth in this case. Based on the product, Recombinant non-glucosylated protein has the biggest market share.
The total Global Market for Biosimilars is estimated to have a value of USD 20 Billion in 2020 and the market is anticipated to grow to USD 110 Billion by 2028. The Biosimilars market is expected to grow at a CAGR of around 12 %. The market revenue generated in the year of 2019 was estimated to be around USD 8 Billion.
The market segmentation for this sector is done based on Region, Product, and Manufacturing. There are three major products present in this market including- Recombinant Peptides Market, Recombinant glycosylated market, and Recombinant Non-glucosylated market. Amongst the three, the Recombinant Non-glucosylated market constitutes up to 48% of the market. Segmentation based on manufacturing gives us In-house and Contract manufacturing. On the basis of region gives us North America, Europe, APAC, the Middle East, and ROW. APAC constitutes for about 25-30% of the market. The In-house market for this segment constitutes up to 65%.
"The Global Biosimilars- Market and Technology Forecast to 2028
" report focuses on key market trends between the forecast period from 2020 to 2028. The Biosimilars market in this report is segmented based on Region, Product, and Manufacturing. The study period is from 2018-2028
The report is aimed at:
Segmentation covered in this Report:
- The drivers, restraints, and challenges faced in this market have been discussed in detail within the report which gives a comprehensive analysis of the market.
- The key technologies that can have an impact on shaping this market's growth have been discussed.
- The competitors in the field both regionally and company-wise have been covered in this report
- The applications of this field’s products and leading competitors within the same have been discussed.
- A strategic plan of the report has been provided using the key tools.
- The opportunities within this market for expired patents have been discussed.
- The market study period for this report ranges from 2019-2028
The market is segmented based Region, Manufacturing Technique, and Product:
- North America
- Middle East
- Contract Manufacturing
- Inhouse Manufacturing
- Offsite Treatment
- Chronic Disorder
- Autoimmune Disease
- Blood Disorders
- Infectious Disease
- Other Diseases
Reasons to Buy:
- United States
- United Kingdom
Who is this report aimed for:
- The key trends which would impact the market during the forecast period, 2020-2028 have been identified within this report which could help new entrants develop a comprehensive view.
- New players could use this report to study the impacts of the drivers, restraint, and challenges on the Biosimilars market.
- A detailed discussion of the key technologies and their impact on the market has been provided in this report which could be of use to existing players wanting to study upcoming technologies within this sector.
- The existing players in the market could benefit from this report through the comprehensive analysis provided for the strategies employed by the key market players. Therefore, they could use this report to develop strategies of their own in reference to the data provided.
- The sales team of the Biosimilars market could use this report to develop new strategies' to approach their clients with the help of the data provided.
- Biosimilars Manufacturers: Can use his report to identify the potential markets for growth.
- Biosimilars Therapeutic Markets: This particular market could adhere to the growing demand with the help of this report.
- Financial Institutions: Can use this report to study the current market and evaluate investment strategies.
- Governments, Associations, and Industrial Bodies: Could use this report to find scope for expansion of this field.
- Sales Teams: They can make use of this report to understand the drivers of the market and use it while making sales.