Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Oral Biologics & Biosimilars Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global oral biologics & biosimilars market will grow from $5377.47 million in 2022 to $6471.49 million in 2023 at a compound annual growth rate (CAGR) of 20.3%. The oral biologics & biosimilars market is expected to grow from $13687.6 million in 2027 at a CAGR of 20.6%.
The rising prevalence of chronic diseases such as arthritis, asthma, and cancer is expected to propel the growth of the oral biologics and biosimilar market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases, and biologics are increasingly used to treat these chronic diseases.
Biologics stimulate the immune system's attack on cancer cells, aiding the body's natural defenses in getting rid of the disease-causing cells. According to a United Nations article, a US-based intergovernmental organization, by 2030, chronic diseases are predicted to account for 70% of all fatalities worldwide. It is anticipated that chronic disease will account for nearly 60% of all deaths worldwide. Therefore, the rise in the prevalence of chronic diseases is driving the growth of the biologics and biosimilar market.
Stringent regulations imposed on the approval of biosimilar are anticipated to hinder the growth of oral biologics and the biosimilar market in the forecast period. The governments of different regions impose different rules regarding the production and use of biologics and biosimilars.
Further, issues such as patent infringement or agreement issues restrict the manufacturers of biologics and biosimilars from commercializing the government-approved biosimilars. The US Food and Drug Administration requires a double regulatory approval for biosimilars, restricting the use of biosimilars as interchangeable drugs for biologics whereas, in Europe, the European Medicines Agency (EMA) approves biosimilars as interchangeable products for biologics, out of the total 17 approved biosimilars only 7 biosimilars including 4 originating biologics could enter the US commercial market. The robust government policies for approval of these drugs impact the manufacturers in oral biologics and biosimilar markets.
The creation of new insulin biosimilar is a key trend gaining popularity in the oral biologics and biosimilar market. The key players operating in the oral biologics and biosimilar market are investing in creating a biosimilar copy of insulin to capture the market share. For instance,In November 2021, Biocon, an India-based biopharmaceutical company launched inter-changeable biosimilar insulin.
These products help to control high blood sugar in pediatric patients with type 1 diabetes and adults with type 2 diabetes and are available in a vial and prefilled pen presentations. These are interchangeable for the reference brand, Lantus (insulin glargine), allowing for substitution at the pharmacy counter. Thus, companies in the oral biologics and biosimilar market are investing in the trend of developing biosimilar of insulin to gain profit.
North America was the largest region in the oral biologics and biosimilar drugs market in 2021. The Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the oral biologics &biosimilar drugs market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Scope
Markets Covered:
1) By Therapy: Lymphocyte Modulators; Interleukin Inhibitors; Tumor Necrosis Factor-Alpha Inhibitors
2) By Disease: Asthma; Crohn's Disease, Carcinoma; Arthritis, Diabetes; Multiple Myeloma; Enterocolitis; Multiple Sclerosis; Sarcoma; Psoriasis and Other Diseases
3) By Molecule Type: Vaccines; Proteins and Peptides; Monoclonal Antibodies; Other Molecule Types
4) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
Key Topics Covered:
1. Executive Summary
2. Oral Biologics & Biosimilars Market Characteristics
3. Oral Biologics & Biosimilars Market Trends And Strategies
4. Impact Of COVID-19 On Oral Biologics & Biosimilars
5. Oral Biologics & Biosimilars Market Size And Growth
6. Oral Biologics & Biosimilars Market Segmentation
7. Oral Biologics & Biosimilars Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Novartis
- Rani Therapeutics
- Eli Lilly and Co
- AstraZeneca plc
- Novo Nordisk A/S
- Biocon Limited
- Oramed Pharmaceuticals
- BiosanaPharma
- Entera Bio Ltd.
- Allergan plc
- Emisphere Technologies
- Enteris BioPharma
- Chiasma
- Allena Pharmaceuticals
- Gelgen
- Ganlee
- 3sbio
- Innovent
- Retractable Technologies, Inc.
- Changchun High Tech
- Dong Bao
- CP Guojian
- GlaxoSmithKline Plc
- Concord Biotech
- Aurobindo Pharma Ltd.
- H. Lundbeck A/S
- Sanofi-Aventis
- Roche.
For more information about this report visit https://www.researchandmarkets.com/r/t4221a
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