Global Biosimilars Market Size is Projected to Gain USD 103.94 Billion, at a CAGR of 25.6% by 2022 to 2028 | Vantage Market Research


WASHINGTON, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Biosimilars Market finds that the increasing chronic diseases and rising cost effectiveness of biosimilars to expedites market growth. In addition, increasing biosimilars adoption in several countries is likely to expand the development of the Global Biosimilars Market during the forecast period.

The Global Biosimilars Market size is projected to reach USD 103.94 Billion by 2028.

The Global Market revenue was valued at USD 28.46 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 25.6% during the forecast period; states Vantage Market Research, in a report, titled “Biosimilars Market by Product Class (Monoclonal Antibodies, Recombinant Hormones, Immunomodulators, Anti-Inflammatory Agents), by Application (Blood Disorders, Growth Hormonal Deficiency, Chronic and Autoimmune Disorders, Oncology), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

Get Free Sample Copy of This Report: @ https://www.vantagemarketresearch.com/biosimilars-market-1279/request-sample

(Request a sample to get comprehensive insights into the Biosimilars Market)

Key Industry Findings & Insights from the report:

  • The global Biosimilars Market was valued USD 28.46 Billion in 2021 and is all set to surpass USD 103.94 Billion by 2028, exhibiting a CAGR of 25.6% during the forecast period 2022-2028.
  • In terms of revenue, the product segment grasps the largest revenue share in 2021 and is appraised to continue its dominance during the forecast period.
  • In terms of revenue, the application segment grasps the second largest market share of in 2021 and is projected to grow rapidly during the forecast period.
  • The market growth is driven by rapid urbanization, technological advancement, an increase in investment by developed and developing countries.
  • North America accounts the lion share in 2021 and is projected to continue its position during the forecast period. This can be attributed to the existence of a significant number of biosimilars industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

List of Leading Players in the Biosimilars Market:

  • F. Hoffmann-La Roche Ltd. (US)
  • Sandoz International GmbH (Switzerland)
  • Dr. Reddy’s Laboratories Ltd. (India)
  • Teva Pharmaceutical Industries Ltd. (Israel)
  • Pfizer Inc. (US)
  • Samsung Bioepis (South Korea)
  • Biocon (India)
  • Mylan N.V (US)

Market Dynamics:

Driver:

Rise in Cost Effectiveness of Biosimilars to Drive the Market Growth

The cost-effectiveness of the biosimilars in the treatment of several chronic diseases common among the population across the globe is impelling the growth of the global biosimilars market. In fact, according to Vantage Market Research, the biosimilars priced are about 20-30% reduced than the branded counterparts, which is resulting as both costs cutting as well as access to highly efficient treatments for the patients. Also, the less investment in research & development lower the cost for biosimilars. Low-priced biosimilars also reduce the impact on reference biologic prices through price competition among manufacturers. The valuable cost-to-benefit ratio provided is anticipated to raise its demand in the near future.

The burden of chronic diseases is increasing across the globe and the available biosimilars are used to treat a wide range of chronic diseases. The growing number of chronic diseases can be largely attributed to increasing age and changing lifestyles of people. Some of the common chronic diseases & disorders including cancer, type 1 and 2 diabetes, growth hormone disorders, rheumatoid arthritis, anaemia, psoriasis, kidney failure, infectious disorders, and post-menopausal osteoporosis. Biosimilars or copy biologics are increasingly being adopted by clinicians, authorities and patients, as are the much-needed improvements in access to clinically viable options for the treatment of various diseases. Additionally, biosimilars have potential for the development of other chronic disorders such as breast cancer, adult T-cell leukemia, meningitis, obesity and hepatitis E.

Purchase This Premium Report (Price 4500 USD for a single-user license) at @ https://www.vantagemarketresearch.com/buy-now/biosimilars-market-1279/0

COVID-19 Impact Analysis

The COVID-19 outbreak has affected number of industries across the globe and the Biosimilars Market is not an exception. Administrative bodies worldwide implemented several measures like strict social distancing, lockdown in order to stop swift spread of Covid-19 pandemic. Biosimilars Market suffered as the Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Small and medium-scale companies which are the backbone technology providers to the Biosimilars industry were witnessing a steep drop due to the pandemic. Additionally, Biosimilars Market was also impacted by the restricted movement of goods and people due to the lockdown measures in place during the beginning stages of the epidemic spread.

Moreover, the rollout for the Biosimilars industry too is taken into consideration as the after effects of the pandemic are moderately coming down since the beginning of 2022. Hence, market players faced several challenges as disruptions in the supply chain were observed. However, workforce and supplies are expected to resume normal in the second half of 2022 which will further fuel Cannabis Testing industry coming back on track. In addition, the study by Vantage Market Research, also deep dives into the after-effects of the COVID-19 pandemic on the subsidiary units of the Biosimilars industry. The impact of COVID-19 on the market demand is considered while estimating the present and future market size and growth trends of the Biosimilars industry for all the regions and countries primarily based on the aforementioned data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Key Strategies Undertaken by Companies to Tackle COVID-19 Pandemic
  3. Quarterly Market Revenue Forecast by Asia Pacific 2021 & 2022
  4. Long Term Dynamics
  5. Short Term Dynamics

Schedule a FREE Consultation Call with Our Analysts to Find Solutions for Your Business at@ https://www.vantagemarketresearch.com/biosimilars-market-1279/contact-analyst

The report on Biosimilars Market highlights:

  • Evaluation of the market
  • Premium Insights
  • COVID Impact Analysis
  • Competitive Landscape
  • Global and Regional Dynamics
  • Historic Data, Estimates and Forecast
  • Company Profiles

Regional Analysis:

Europe Dominated the Global Biosimilars Market

Europe dominated the Global Biosimilars Market and will continue to dominate during the forecast period. This dominance is attributable to impending patent expiry of biologic products, the rising prevalence of chronic disorders, launch of new biosimilars, coupled with the growth of new players as well as early entry into the market. In addition, regulatory authorities have been instrumental in the adoption of biosimilars by making suitable and favorable changes towards the approval of biosimilar drugs. Biosimilar drugs are regulated by establishing a solid framework for approval in Europe and shaping biosimilar development throughout the world. Currently, biosimilars are an important part of the effective biological therapies available in Europe.

On the other hand, the Biosimilars are becoming especially popular in North America. The growing popularity of biosimilars in North America and the presence of several market players in this region are investing heavily in the research and development activities of biosimilars, which is expected to fuel the growth of the market in this region.

Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on “Biosimilars Market by Product Class (Monoclonal Antibodies, Recombinant Hormones, Immunomodulators, Anti-Inflammatory Agents), by Application (Blood Disorders, Growth Hormonal Deficiency, Chronic and Autoimmune Disorders, Oncology), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)

Recent Developments:

1. In July, 2021: The US Food and Drug Administration (FDA) has agreed for the first interchangeable biosimilar product for the treatment of diabetes with the approval of insulin glargine-yfgn (Semglee) to enhance glycemic control in adults and pediatric patients with type 1 diabetes and in adults with type 2 diabetes, according to the FDA.

2. In January, 2022: India's premier biopharmaceutical company Biocon is developing a pipeline of 20 biosimilar drugs or similar but not identical copy of biologic medicines, to tap the huge opportunity in the future.

Key Questions Answered by Vantage Market Research:

  • Which region will grow with highest CAGR in the near future?
  • Which are the top seven players and their weakness and strength?
  • What will be the future innovation in the forecast of six years?
  • Which application and product accounts the largest share of the global market during the forecast period?
  • What are the growth drivers, opportunities, restraints and challenges of the industry?
  • What will be the CAGR and size of the Biosimilars Market for the base year and forecast period 2022-2028?

This market titled “Biosimilars Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Key Market PlayersF. Hoffmann-La Roche Ltd. (US), Sandoz International GmbH (Switzerland), Dr. Reddy’s Laboratories Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Pfizer Inc. (US), Samsung Bioepis (South Korea), Biocon (India), and Mylan N.V (US)
Segments Covered
Product Class

     • Monoclonal Antibodies
     • Recombinant Hormones
     • Immunomodulators
     • Anti-Inflammatory Agents
     • Other Product Classes

Application

     • Blood Disorders
     • Growth Hormonal Deficiency
     • Chronic and Autoimmune Disorders
     • Oncology
     • Other Applications

Quantitative Data - UnitsRevenue in USD Million/Billion and CAGR from 2022 to 2028
Regions Covered
 • North America
    • U.S.
    • Canada
    • Mexico

 • Europe
    • U.K
    • France
    • Germany
    • Italy
    • Spain
    • Rest Of Europe

 • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South East Asia
    • Rest Of Asia Pacific

 • Latin America
    • Brazil
    • Argentina
    • Rest Of Latin America

 • Middle East & Africa
    • GCC countries
    • South Africa
    • Rest Of Middle East & Africa

Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives are 24/7 there for you and will be happy to understand your needs and provide you with the most suitable reports.

Browse More Related Report:

  • Medical Imaging Market Size, Share & Trends Analysis Report by Products (X-Ray, Ultrasound, Computed Tomography, Magnetic Resonance Imaging (MRI), Nuclear Imaging), by End Users (Hospitals, Diagnostic Imaging Centers, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
  • Cancer Biomarkers Market Size, Share & Trends Analysis Report by Biomarkers Type (Protein Biomarkers, Genetic Biomarkers, Other), by Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer), by Profiling Technologies (Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics), by Application (Research & Development, Prognostics, Risk Assessment, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
  • Biobanking Market Size, Share & Trends Analysis Report by Product and Service (Equipment, Consumables, Services, Software), by Sample Type (Blood Products, Human Tissues, Nucleic Acids, Cell Lines), by Application (Regenerative Medicine, Life Science Research, Clinical Research), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
  • IVD Contract Manufacturing Services Market Size, Share & Trends Analysis Report by Type (Assay Development, Manufacturing), by Category (Reagents, Systems), by Technology (Immunoassay, Molecular Diagnostics, Clinical Chemistry, Hematology), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/

Follow Us on Twitter: https://twitter.com/vantagemarketr

Follow Us on Facebook: https://www.facebook.com/vantagemarketresearch

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website: https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases @https://www.vantagemarketresearch.com/insight/press-releases

Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs

Blog: