Biosimilars Market Research Report: By Product (Recombinant Non-Glycosylated Proteins (Human Growth Hormone [RHGH], Granulocyte Colony-Stimulating Factor [Filgrastim], Insulin and Interferons), Recombinant Glycosylated Proteins (Erythropoietin [EPO], Monoclonal Antibodies [MABS] and Follitropin) and Recombinant Peptides [Glucagon and Calcitonin]), by Applications (Oncology, Chronic Diseases, Autoimmune Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases and others) by End-users (Hospitals and Clinics, Research Institutes and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) – Global Forecast till 2025
The biosimilars market is projected to grow at a CAGR of 7.5% during the forecast period. As per the biosimilars market research report, the global market for biosimilars is projected to grow swiftly.
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According to analysts, the rising pressure on the industry to reduce healthcare expenditures as well as the rising demand for biosimilars owing to the cost-effectiveness of solutions will drive the market growth during the forecast period. The biosimilars market research report offers a comprehensive analysis of the global biosimilars market and its applications, end users, region, and product segments. The dearth of healthcare professionals along with slow approval process in some regions are the elements that could influence the biosimilars market advancement throughout the forecast period. The biosimilars market research report by the healthcare and wellness industry’s expert analysts is developed to assist organizations in the biosimilars market.
The global biosimilars market has been segmented based on applications, end users, region, and product. On the basis of product, the market for biosimilars is segmented based on recombinant non-glycosylated proteins (granulocyte colony-stimulating factor [filgrastim], insulin and interferons, human growth hormone [rhgh]), recombinant glycosylated proteins (monoclonal antibodies [mabs] and follitropin) and recombinant peptides [glucagon and calcitonin], erythropoietin [epo]. Additionally, the market on the basis of applications, is segmented into autoimmune diseases, blood disorders, chronic diseases, growth hormone deficiency, infectious diseases, oncology, and others. The global market for biosimilars is also covered based on the end-users segment which is further split into research institutes, hospitals and clinics, and others.
Major elements such as lack of favorable policies could obstruct the biosimilars market growth. However, according to the biosimilars market research report, the growing prevalence of chronic diseases along with patent expiration of various popular drugs will propel growth throughout the forecast period. The biosimilars market is set to register growth at a high CAGR owing to these key factors. The exploration of applications, end users, region, and product segments along with regional markets has been given in the global biosimilars market research report. The research analysts studying the biosimilars market have put out market forecasts in the biosimilars market research report in order to support biosimilars market-based companies. The biosimilars market research report provides extensive understanding of the biosimilars market based on the information and forecasts till 2025.
North America, Europe, Asia Pacific and the rest of the world regional market for biosimilars are predominantly covered in the global biosimilars market research report. Country-level biosimilars markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level biosimilars markets are covered in the report. In Asia-Pacific (APAC) region, the country-level biosimilars markets covered are Japan, India, China, and others. The biosimilars market research report also explores the regional market for biosimilars present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The biosimilars market research report also covers regional markets from the rest of the world alongside biosimilars markets of Africa and the Middle East.
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.
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.
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