Global Biosimilars Market: Industry Analysis , Application& Forecast to 2027
Biosimilars Market by Product (Insulin, rhGH, Granulocyte colony-stimulating factor, Interferon, Erythropoietin, Etanercept, Monoclonal antibodies, Follitropin, Glucagon, Calcitonin, Teriparatide, and Enoxaparin Sodium), By Manufacturing (In-house, Contract) & Indication (Offsite Treatment, Oncology, Chronic Disease, Blood Disorder, Autoimmune Disease, Blood Disorders, Infectious Disease, and Other Diseases), By Geography (North America, Europe, APAC, and RoW) Global Opportunity Analysis and Industry Forecast up to 2026
Biosimilars or follow-on-biologics are the "duplicated" and authorized variants of those reference biologics that have experienced patent expiration. Biosimilars improvement and approval with reference biologics is a significant part of the general advancement and development process. Guidelines for biosimilars assume an essential job in keeping up the suitability and harmony among unique and biosimilars items. Different regulatory specialists, for example, EMA and FDA effectively control Biosimilars commercialization and advancement.
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The biosimilars market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology, along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
The market is driven by factors such as the rising prevalence of chronic diseases such as cancer and diabetes supplement the growing demands of pharmaceutical drugs. However, market growth is limited by manufacturing complexities and resistance from biological manufacturers. Furthermore, the growth of the biosimilars market is hampered with multiple factors including the lack of regulatory guidelines, consumers’ brand preferences, the reluctance of physicians to prescribed biosimilars, and the high capital required for research and development.
Based on the parameter of manufacturing, the market of Biosimilars is segmented into two segments:
The in-house manufacturing segment makes up for the larger market share, while the contract manufacturing segment is expected to witness the highest CAGR during the forecasting period.
Based on the product, the biosimilars market monoclonal antibody industry is prominently segmented into trastuzumab, infliximab, rituximab, adalimumab, and other monoclonal antibodies. The infliximab segment accounted for the largest biosimilars market share in 2019. The growing prevalence of autoimmune diseases drives market growth.
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Last Update : 23 September 2020 5:19 AM
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