The U.S. biosimilars market will gain momentum from the increasing government support to adopt biosimilars in the healthcare sectors. According to a report by Fortune Business Insights, titled, “Biosimilars: U.S. Market Analysis, Insights and Forecast, 2019-2026,” the U.S. biosimilars market is projected to reach US$ 17,696.0 Mn by 2026. The report provides valuable insights into the drivers influencing growth of the market. As per the report, the U.S. biosimilars market is anticipated to report an impressive CAGR of 54.7% during the forecast period. The report also states that the U.S. market was valued at US$ 436.1 Mn in 2018.
The report includes thorough compilation of the quantitative analysis of the industry for the period of 12 years in order to assist players to grow in the market. Insights on specific revenue figures generated are also given in the report, along with projected revenue at the end of the forecast period. This study includes a widespread analysis of the key segments of the industry. This analysis sheds light in the current trends and opportunities in the U.S. Biosimilars Market.
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Key Points of the U.S. Biosimilars Market Report:
- The report provides a basic overview of the industry including its definition, applications, and manufacturing technology.
- The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value along with the market shares for each company.
- Through the statistical analysis, the study depicts the global market including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
- Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.
- The report then estimates the market development and trends of the U.S. Biosimilars Market.
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Increased Research and Development Initiatives to Drive the Market
Biosimilars are the copies of original products. Due to the high cost of pharmaceutical drugs, healthcare facilities are not accessible to people from every economical stratum. This is where biosimilars come to recuse. Being an identical copy, biosimilars help in treating chronic diseases like cancer and arthritis in an effective manner just as original medications do. The market is likely to grow during the forecast period because of an increasing demand from the masses. Also, a rise in research and development initiatives by prominent organizations have increased market opportunities. This has led to tough competition in the U.S. biosimilars market.
Top manufactures of U.S. Biosimilars Market are:
- Hoffmann-La Roche Ltd.
- AbbVie Inc.
- Merck & Co.
- Celltrion Inc.
- Coherus BioSciences, Inc.
- Teva Pharmaceutical Industries Ltd.
- Eli Lilly and Company
- and others.
Autoimmune Diseases Segment Projected to Dominate the Market in the U.S.
The U.S. biosimilars market is classified into three segments, namely, by distribution channel, by disease indication, and by drug class. By distribution channel, the market is grouped into online pharmacy, hospital pharmacy, and retail pharmacy. In terms of disease indication, the market is divided into cancer and autoimmune diseases such as arthritis, neutropenia, psoriasis, and others. In 2018, the autoimmune diseases held a market share of 92.0%. The segment is anticipated to remain in the leading position the U.S. biosimilars market during the forecast period. Factors like increasing adoption of biosimilars, rise in the prevalence of autoimmune diseases, and availability of limited drugs are likely to boost the segment. The Centers of Disease Control and Prevention declared that approximately 26% adults are estimated to have arthritis by 2040.
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U.S. Biosimilars Market Segmentation:
By Drug Class
- Filgrastim & Pegfilgrastim
- Monoclonal Antibodies
By Disease Indication
- Autoimmune Diseases
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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