Antidiabetic Biosimilars are new products that mimic the properties of natural insulin. While they don’t have the same therapeutic benefits, they are cheaper and have fewer side effects. In addition, patients should be educated and aware of the benefits of using antidiabetic drugs. An antidiabetic biosimilar will help control blood glucose levels in diabetics. It is compatible with other antidiabetic medicines. According to the World Health Organization (WHO), nearly 342 million people in the U.S. have the disease, up from just 4% in 1980. The European Union (EU) has a strict policy on the pricing of antidiabetic biosimilars, and the cost of a generic drug is much lower than that of a branded brand.
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Major companies contributing to the global antidiabetic biosimilars market include Eli Lilly & Co., Boehringer Ingelheim GmbH, Merck Sharp & Dohme Corporation, Biocon, Wockhardt, Mylan N.V., Samsung Bioepis, and Sanofi-aventis U.S. LLC.
Mounting cases of diabetes and hypertension as a result of rapidly changing consumption patterns are expected to augment growth of the antidiabetic biosimilars market during the forecast period.
Moreover, growing government initiatives to create health awareness by initiating favorable reimbursement policies for diabetic patients are expected to boost growth of the antidiabetic biosimilars market over the forecast period.
Summary of the COVID-19 Aftermath
The emergence of the COVID-19 virus had a bitter-sweet effect on the global antidiabetic biosimilars market. In the light of the virus transmission, diabetic patients and healthcare providers choose to delay/cancel appointments. However, on the plus side, the market is regaining its pre-pandemic pace with the adoption of remote diagnostic solutions.
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- The antidiabetic biosimilars market is anticipated to grow at a CAGR of XX % during the forecast period owing to the increasing incidences of diabetes in parallel to the rising investments in the research activities for biosimilars development. For instance, in June 2020, the Centers for Disease Control and Prevention (CDC) reported that around 34.2 million individuals in the U.S. are suffering from diabetes.
- On the geographical front, the North American region is well-positioned to reign supreme in the global antidiabetic biosimilars market at the helm of an increasing approval rate for biosimilar insulin products by regulatory authorities amidst growing cases of diabetes.
- Another noteworthy region is Asia Pacific, which is viewed as a future ace in the global antidiabetic biosimilars market on account of increasing awareness over diabetes, rising expenditure in the healthcare sector, and a large diabetic patient pool.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Antidiabetic Biosimilars Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Antidiabetic Biosimilars Industry Impact
Chapter 2 Global Antidiabetic Biosimilars Competition by Types, Applications, and Top Regions and Countries
2.1 Global Antidiabetic Biosimilars (Volume and Value) by Type
2.3 Global Antidiabetic Biosimilars (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Antidiabetic Biosimilars Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Antidiabetic Biosimilars Market Analysis
Chapter 6 East Asia Antidiabetic Biosimilars Market Analysis
Chapter 7 Europe Antidiabetic Biosimilars Market Analysis
Chapter 8 South Asia Antidiabetic Biosimilars Market Analysis
Chapter 9 Southeast Asia Antidiabetic Biosimilars Market Analysis
Chapter 10 Middle East Antidiabetic Biosimilars Market Analysis
Chapter 11 Africa Antidiabetic Biosimilars Market Analysis
Chapter 12 Oceania Antidiabetic Biosimilars Market Analysis
Chapter 13 South America Antidiabetic Biosimilars Market Analysis
Chapter 14 Company Profiles and Key Figures in Antidiabetic Biosimilars Business
Chapter 15 Global Antidiabetic Biosimilars Market Forecast (2021-2027)
Chapter 16 Conclusions
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