Market Overview:

Biosimilars are biologic medical products that are highly similar to the existing biologic medicines which are complex molecules or mixture of molecules that may be composed of living materials. As per the report that has been recently published by Market Research Future (MRFR).

Market Drivers and Restraints:

Increasing consumer inclination towards biosimilars over generic medicine is majorly driving the global biosimilars market. The high demand for cheap medical products that provide similar result as that of the expensive ones and rise in prevalence of various acute and chronic diseases due to the changing lifestyle, food habits and biological factors are projected to be propelling the growth of the global biosimilars market in the coming years. However, lack of awareness regarding biosimilars and physician skepticism are the primary factors that are likely to hamper the growth of the global biosimilars market.

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Market Segmentation:

The global biosimilars Management Market has been segmented on the basis of product, application and manufacturing. Based on product, the biosimilars market is segmented into recombinant glycosylated proteins, recombinant non-glycosylated proteins and others. The recombinant glycosylated proteins segment includes monoclonal antibody (mAb) and EPO. The recombinant non-glycosylated proteins segment is sub-segmented into insulin, growth hormones and others. Based on application, the biosimilars market is segmented into immune diseases, oncology, blood related disorders and others. Based on manufacturing, the biosimilars market is segmented into contract manufacturing and in-house manufacturing.

Competitive Landscape

Rapid biosimilar drug approvals are presumed to drive the biosimilars market growth worldwide. The global biosimilars market could be challenged by the lack of investment in healthcare across developing countries, nevertheless, organizations in the biosimilars market will carry the growth rate forward. The biosimilars market research report presents company profiles of major companies active in the biosimilars market globally. Furthermore, the global biosimilars market report offers an all-inclusive analysis of the market collected from the biosimilars market’s primary and secondary sources covering both decision makers and thought leaders. The biosimilars market research report highlights such key areas assisting businesses operating in the biosimilars market to build better growth strategies.

Industry News

In 2021, Sudarschan Jain, PGDM secretary general of the Indian Pharmaceutical Alliance was appointed to the new head of the International Generic and Biosimilar Drugs Association (IGBA) a trading organization of global members. He substitutes for Hanan Sboul, the outgoing IGBA chair. In a joint study with IQVIA, IGBA pointed out that reducing the terms of product exclusiva would limit investment in new and enhanced medicines. IQVIA also pointed out that the team claimed to have found several examples of how exclusivity rights for originating goods limited the savings that generic and biosimilar competition might have resulted.

LIST OF TABLES

TABLE 1 GLOBAL BIOSIMILARS MARKET SYNOPSIS, 2020-2027

TABLE 2 GLOBAL BIOSIMILARS MARKET ESTIMATES & FORECAST, 2020-2027 (USD MILLION)

TABLE 3 GLOBAL BIOSIMILARS MARKET, BY PRODUCT, 2020-2027 (USD MILLION)

TABLE 4 GLOBAL BIOSIMILARS MARKET, BY APPLICATIONS, 2020-2027 (USD MILLION)

TABLE 5 GLOBAL BIOSIMILARS MARKET, BY END USERS, 2020-2027 (USD MILLION)

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