WiseGuyRerports.com Presents “Global Biosimilar Market Professional Survey Report 2019” New Document to its Studies Database
In 2018, the global biosimilar product market stood at USD 5.95 Billion and in the coming years, the market is expected to witness a steady and rapid growth. The global biosimilar products market is expected to grow at a Common Annual Growth Rate (CAGR) of 32.1% to reach an astounding figure of USD 71.97 Billion by 2027. The biosimilar products are bound to increase in demand over the next few years because of their cost-effectiveness and easy availability. Biosimilar product is a biological product that has the same characteristics as the reference biological product. Biosimilar products are also approved by the FDA and can be used much the same way as the reference biological product.
Biosimilar products are made from complex molecules. The process of genetic engineering is used to make these products. Genetic engineering copies the code of the original biological product to copy and produce the genetic code. This in turn enables the production of biosimilar products with the same characteristics as the original biological product. Biosimilar products can be used in the same effective manner as the original products. The fact that these products are as effective as the original biological products is driving their increased demand and thus the expansion of the market.
Biosimilar drugs and products are cost-effective alternatives to actual biological products. These can help to save almost 30% to 40% of the total cost of the actual biological drugs. Biosimilar products are used for treating several types of illnesses and diseases. These products can be used effectively to treat anaemia, cancer, diabetes, kidney-related diseases, arthritis, etc. The fact that the cases of chronic illnesses and diseases are increasing has led to the expansion of the global market for these products.
Dr. Reddy’s Laboratories
Intas Pharmaceuticals Limited
Reliance Life Sciences
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Biosimilar products on the basis of their type are segmented into glycosylated proteins insulin, peptides, human growth hormones, and monoclonal antibodies. Of these, the glycosylated proteins hold the maximum market share in the global market. This is because they are used to treat chronic and autoimmune diseases – the incidences of which are on a rise across the globe. The share of glycosylated biosimilar products is further expected to witness a growth of almost 28.7% in the coming years.
The global biosimilar market on the basis of application is segmented into application in oncology, autoimmune diseases, growth hormone deficiency diseases and infectious diseases. The autoimmune disease segment on the products exceeded USD 1387 Million in 2018 and is bound to grow at a fast pace in the coming years because of the increased prevalence of autoimmune diseases like arthritis, psoriasis etc.
There are several key manufacturers who manufacture biosimilar products. These key players contribute in a significant manner to the global market of these products. The key contributors include Biocon, Celltrion, Allergan, BIOCAD, Dr. Reddy’s Laboratories, Pfizer, Reliance Life Sciences, Novartis etc. These manufacturers need to make sure that they provide good quality products and manufacture these in good conditions.
Europe has led the market growth of these products in 2017. Asia has closely followed the global market. North America has also contributed in a significant manner to the growth of this market. The rising incidences of chronic diseases in these areas are leading to a significant share in the market of these products. In addition, manufacturers in these regions are investing more in research and development of biosimilar products.
The cost-effectiveness of the biosimilar products is leading to an expansion of this market at the global level. The biosimilar products can be used in an effective manner and can be great alternatives to the use of biological products.
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Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion
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